Tensec Scores $12 Million Seed Funding

<p><strong><span class&equals;"legendSpanClass"><span class&equals;"xn-location">PALO ALTO <&sol;span><&sol;span><&sol;strong>&&num;8212&semi; <a href&equals;"https&colon;&sol;&sol;c212&period;net&sol;c&sol;link&sol;&quest;t&equals;0&amp&semi;l&equals;en&amp&semi;o&equals;4451739-1&amp&semi;h&equals;1625501906&amp&semi;u&equals;https&percnt;3A&percnt;2F&percnt;2Fwww&period;tensec&period;io&percnt;2F&amp&semi;a&equals;Tensec" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener">Tensec<&sol;a>&comma; a company transforming cross-border financial services&comma; has secured <span class&equals;"xn-money">&dollar;12 million<&sol;span> in seed funding to provide real-time&comma; seamless payments and financial services for global companies operating in the <a href&equals;"https&colon;&sol;&sol;c212&period;net&sol;c&sol;link&sol;&quest;t&equals;0&amp&semi;l&equals;en&amp&semi;o&equals;4451739-1&amp&semi;h&equals;1016835135&amp&semi;u&equals;https&percnt;3A&percnt;2F&percnt;2Fwww&period;statista&period;com&percnt;2Fstatistics&percnt;2F1385187&percnt;2Fcross-border-payments-value-worldwide-by-segment&percnt;2F&amp&semi;a&equals;&percnt;24190&plus;trillion" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener"><span class&equals;"xn-money">&dollar;190 trillion<&sol;span><&sol;a> cross-border payments market&period; The funding will accelerate Tensec&&num;8217&semi;s mission to provide global trading companies and their clients access to cross-border real-time payments and transaction banking services that have historically been available only through large financial institutions&period;<&sol;p>&NewLine;<p>Led by Costanoa Ventures&comma; the round also includes investments from Quiet Capital&comma; WillowTree Investments&comma; Cambrian VC&comma; Ignia Partners&comma; Montage Ventures&comma; Renegade Partners&comma; and Endeavor Scale Up Ventures&period;<&sol;p>&NewLine;<p>&&num;8220&semi;SMBs drive nearly half of global trade but have long been excluded from the financial tools that larger players rely on&comma;&&num;8221&semi; said <span class&equals;"xn-person">Helcio Nobre<&sol;span>&comma; CEO and co-founder of Tensec&period; &&num;8220&semi;We&&num;8217&semi;re flipping the model by empowering global trading companies to deliver these services directly to their partners—making global commerce faster&comma; cheaper and more accessible&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Tensec leverages AI&comma; real-time payments and a global fintech infrastructure to create a no-integration platform that enables global trading companies to offer foreign exchange &lpar;FX&rpar; services&comma; cross-border payments&comma; treasury and other financial services to their SMB clients&period; The company is already working with customers who facilitate <span class&equals;"xn-money">&dollar;10 billion<&sol;span> in annual trade volume&period; Tensec projects this will grow to <span class&equals;"xn-money">&dollar;30 billion<&sol;span> in annual trade volume after its upcoming service expansion into APAC and the EU markets&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Tensec lets global trade companies seamlessly integrate financial services to better serve their clients&comma;&&num;8221&semi; said <span class&equals;"xn-person">Amy Cheetham<&sol;span>&comma; Partner at Costanoa Ventures&period; &&num;8220&semi;It&&num;8217&semi;s a win-win—new revenue for trading companies and modern financial tools for SMBs who&&num;8217&semi;ve been underserved for decades&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Tensec is targeting the massive cross-border payments infrastructure that still runs on 40-year-old SWIFT technology&period; With global cross-border payments projected to reach <span class&equals;"xn-money">&dollar;250 trillion<&sol;span> by 2030&comma; there has been significant fintech innovation in consumer and enterprise payments&period; However&comma; SMB cross-border payments remain largely untouched by innovation&comma; despite representing over 40&percnt; of the <span class&equals;"xn-money">&dollar;25 trillion<&sol;span> annual physical goods trade&period; Tensec is bridging this critical gap&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Legacy banks built their cross-border infrastructure when fax machines were cutting-edge&comma;&&num;8221&semi; said Helcio&period; &&num;8220&semi;We&&num;8217&semi;re skipping that entire stack&period; Our services let the companies already engaged in global trade to offer their own financial services innovations&period; It fills a real need &&num;8211&semi; and their clients thrive&period;&&num;8221&semi;<&sol;p>&NewLine;