Havona, which focusses on digitising, streamlining, and automating post-trade processes, said GTRV’s backing would be key to expanding its geographical presence as it fine-tunes its proprietary post-trade platform.

“The platform enables our customers to exchange value with accurate data-points while managing risk and compliance from trade entry to completion,” said Havona co-founder and chief commercial officer Gregory Pradervand.

“Our product is the manifestation of many months and years of close collaboration with top global agriculture and metals commodity traders,” he said in a press release.

Havona’s platform addresses major pain points in the post-trade phase, connecting all relevant participants in the trade process into a single, secure digital environment.

Its real-time data access, blockchain security, and compliance automation features are designed to offer seamless collaboration and a significant reduction in manual errors, delays, as well as operational risks.

The investments secured from Havona’s global seed funding round will enable the startup to scale, market and deliver digital trade solutions for stakeholders in the global commodity services market.

This includes commodity traders in Singapore, where about 400 global traders are based and registering around US$1.6 trillion in offshore trade annually, according to Enterprise Singapore.

“We are pleased to welcome Havona into our global community of traders, lenders and trade techs,” said GTRV co-founder and CEO Rupert Sayer.

“Havona’s new Singapore footprint will allow the company to reach out to a critical mass of SME commodity traders in Asia who require simple and affordable tools for trade risk and operations management.”