News & Press

June 2021: TFM's blockchain applications featured in "Chain Reaction - How Blockchain Will Transform The Developing World"

With blockchain, we are about to witness a leapfrogging – one that will bring the next billion emerging consumers into the formal economy by creating reliable institutions of contract, ownership and trust among people previously denied such luxuries. The authors humanize the technology by taking the reader on a global journey through a multitude of applications – from registering property to voting and delivering aid.

“Chain Reaction is showcasing how blockchain is revolutionizing governance, building trust around the developing world, with many examples of what blockchain can do for society.” (Arunma Oteh, Academic Scholar at University of Oxford and former World Bank Treasurer)

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October 2020: TFM and Crowdz Partner To Tackle Invoice Finance Fraud

Invoice financing and payments company Crowdz will introduce fraud-detection application Invoice Check by Trade Finance Market (TFM) to reduce double-financing as small businesses flock to financial platforms to ease the COVID-19 cashflow crunch.

More info:

September 2020: Commodities Exchange Turns To TFM's Blockchain Technology To Increase Funding For African Farmers

AFEX Commodities Exchange Limited (AFEX) announced today that it will introduce Warehouse Receipt Check by Trade Finance Market (TFM) to reduce fraud and drive access to funding for the agricultural sector in Nigeria. The inability of smallholder farmers to access finance has had a devastating impact on the growth of Africa’s agriculture sector – worsened by the global pandemic.

As Nigeria’s first private sector commodities exchange, AFEX has developed and deployed a viable commodities exchange model for the West African market; building a strong supply chain infrastructure to support the securitization of agricultural products. AFEX’s Warehouse Receipts System (e-WRS) also allows farmers access credit facilities on the back of the value of their produce, giving them a path to reduce poverty. Since its inception in 2014, AFEX has reached and enhanced the livelihoods of over 106,000 farmers and aggregated over 135,000 metric tons of commodities.

By utilizing TFM’s blockchain application to reduce risk, funders are given added assurance that the transaction has been de-risked and the risk of fraud reduced. As each warehouse receipt is encrypted and stored on the blockchain, funders are able to check if a receipt has previously been financed – avoiding a problem which has globally cost the industry over $1 trillion.

CEO of AFEX, Ayodeji Balogun said “AFEX is constantly exploring innovative risk management structures for the agriculture sector in line with our focus on unlocking finance for the sector. This partnership with Trade Finance Market will enable us layer on its Warehouse Receipt Check on our existing technology stack to streamline the process of financing agriculture to smallholder farmers and other players in the commodities markets through blockchain.”

Executive Director of Trade Finance Market, Raj Uttamchandani sees this blockchain collaboration with AFEX as a game changer for the African continent – akin to the way mobile phone technology leap frogged landlines.

“We are very proud to work with AFEX to introduce cutting edge technology which removes obstacles for smallholder farmers in obtaining finance quickly. Warehouse Receipt Check provides a solution which utilizes blockchain in a way that has never been done before - providing funders with security and ensuring liquidity flows to the agricultural sector - the backbone of the economy - thereby protecting countless jobs and livelihoods,” he said.

"Using the Blockchain as the central component of the system provided the mechanism to enable uniqueness and single source of truth about the state of a Warehouse Receipt", added Brad Lucas, TFM's CTO.

Beyond a technology partnership, TFM also aims to provide selected transaction funding on the AFEX platform. The gains in liberating farmers from inefficiencies in existing financing systems is the biggest case for this partnership, which will empower smallholder farmers and lead to marked changes in trading and financing commodities.

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September 2020: TFM Unveils Blockchain Application To Reduce Fraud At GTR Commodities 2020

TFM's CTO, Brad Lucas, was invited to demo Warehouse Receipt Check - our blockchain application to reduce commodities finance fraud.

September 2020: Commodity traders in Asia: A risky business?

TFM's Executive Director, Raj Uttamchandani, spoke at a stellar panel event on how technology can increase transparency and reduce fraud.

September 2020: Trade Finance Market sponsors GTR ASIA 2020

The world's premier trade finance gathering went virtual this year and was a resounding success.

April 2020: Trade Finance Market appoints ex FIMBank President Margrith Lutschg Emmenegger as COO to develop and execute its trade finance growth strategy.

Former president of FIMBank and Chairman of International Factors Group (IFG), Margrith Lutschg Emmenegger, has joined Singapore based Trade Finance Market, a fintech pioneer utilising technology to provide an alternative source of impact capital for emerging market cross border trade.

Margrith has extensive trade finance experience with Barclays Bank and then as Global Factoring Head for West LB. She was also the founding Chairman of the Association of Forfaiters in the Americas and set up London Forfaiting.

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September 2019: Trade Finance Market At GTR Commodities (Geneva) 2019.

Honoured to present together with Incomlend our ideas on how blockchain can be used in trade finance and how the WBTC can play an important role.

September 2019: Trade Finance Market At GTR Asia Trade & Treasury Week.

Great to participate in a lively panel discusion on using technology to reduce trade finance fraud. Thanks to our friends at GTR / GTR Ventures and our fellow panelists.

July 2019: Blockchain and Digital Invoice Finance — What’s Missing?

Trade Finance Market's blockchain app Invoice Check featured in Spend Matters.

June 2019: Trade Finance Market On BULL.IO Blockchain Media

Our Executive Director, Raj Uttamchandani, discusses how blockchain can be used to in trade and invoice finance to reduce fraud.

April 2019: Trade Finance Market At GTR West Africa 2019 - On Digital Innovation.

It was great to participate in a lively panel discusion on harnessing digital innovation to unlock West Africa’s value-add future - and demonstrate how Invoice Check can contribute to this. Thanks to our friends at GTR / GTR Ventures and our fellow panelists.

April 2019: Trade Finance Market's Invoice Check Features In EHDA's B2B Trade Blockchain Ecosystem.

Honoured to be recognized for our efforts in utilizing blockchain technology to make tradefinance and invoicefinance safer through our app - InvoiceCheck. Thanks to our friends at Euler Hermes Digital Agency.

March 2019: Trade Finance Market Addresses The Berne Union.

We were thrilled to present our ideas to the Berne Union on how blockchain can reduce invoice fraud. The Berne Union is the leading global association for the export credit and investment insurance industry and its members cover 13% of world trade.

February 2019: Introducing our podcast: The Real D.L.T – Beyond The Blockchain Hype

Our Executive Director, Raj Uttamchandandani, in conversation with pioneering entrepreneurs building Distributed Ledger Technology (D.L.T.) applications that may one day transform the world.

We explore the real world problems they are solving, challenges they face and discuss current trends in the blockchain sector - and what the future may look like.

For Episode 1, we were delighted to welcome Eugene Aseev, Co-Founder and CTO of Chainstack, to share his insights on How To Accelerate Enterprise Adoption Of Blockchain .

Check out the podcast and let us know what you think!

January 2019: Trade Finance Market recognised in the Top 40 rising fintechs supporting international trade.

We were thrilled to be featured in Trade Finance Global’s TradeTech 40 – check out the interview with our Executive Director, Raj Uttamchandani.

January 2019: Trade Finance Market featured in Iconiq Lab’s blockchain podcast.

We talk about the specific use case of blockchain within the ecosystem of Trade Finance Market and the value that blockchain brings in from a transparency standpoint. We discussed the use case and advantages of token sales. The discussion also dwelled on the blockchain space and the future of crypto for 2019. Listen here.

16 November 2018: Trade Finance Market joins APIX - developed and supported by AFIN (Asean Financial Innovation Network). to facilitate innovation and collaboration between Financial Institutions and FinTechs.

For more information, please visit APIX and Global Trade Review.

15 November 2018: The World Blockchain Trade Consortium (WBTC) launched at the iconic Singapore Fintech Festival 2018 – the world’s largest gathering for financial services innovation.

The WBTC is a TFM initiative and we are proud to be working with such innovative founder members.

For more information, please visit WorldBlockchain.Trade and Global Trade Review.

October 2018: Incomlend to use blockchain to reduce invoice finance fraud risk in partnership with Trade Finance Market.

We are delighted to announce our partnership with Incomlend - who will use our blockchain application, Invoice Check, to reduce invoice finance fraud.

Read the full article at Global Trade Review.

October 2018: Trade Finance Market invited to participate at the closing debate of The Supply Chain Finance Summit APAC.

Thank you to BCR for inviting our Director of Legal Affairs, Satish Uttamchandani, to speak on Supply Chain Finance 2020 and debate the future of trade finance.

September 2018: Trade Finance Market showcases blockchain technology at 6th International Symposium on Warehouse Finance and Collateral Management in Tianjin.

Thank you to the IFC for inviting our Executive Director, Raj Uttamchandani, to demonstrate our DLT applications Collateral Check and Collateal Trust to derisk warehouse receipt finance and collateral management.

September 2018: Trade Finance Market showcases pioneering distributed ledger technology at GTR Asia in Singapore.

We were thrilled to be invited to demonstrate our blockchain applications at Asia's largest trade finance conference.

June 2018: Trade Finance Market shares blockchain insights at Innovfest Unbound

Our Executive Director, Raj Uttamchandani, was invited to speak on "Effective Use Of Blockchain" at Innovfest Unbound - Asia's largest innovation festival.

Our use of blockchain technolgy for trade finance has grown exponentially and we were happy to share our insights.

Watch the event.

March 2018: GTR Ventures Invests in Trade Finance Market

For more information visit GTR Ventures.

August 2017: Blockchain solution aims to stop trade invoice fraud.

For more information visit GTR Asia.

August 2017: Trade Finance Market Launches Blockchain Tool to Reduce Risk of Invoice Finance Fraud

For the first time, banks and factoring companies will be able to derisk invoice and receivable finance transactions, reducing compliance costs and providing SMEs with lower finance rates.

Trade Finance Market (TFM) has launched InvoiceCheck, enabling any bank or factoring to quickly and easily check if an invoice is potentially being double financed.

Invoice finance fraud is a huge problem because a financier has no way of knowing if an invoice is fraudulent or has already been financed by another funder. When a default occurs, there may be several funders who all think they own the invoice or receivable. This problem is magnified in cross border transactions, especially when only paper invoices are used and in markets where there is no central registry on which to register a charge.

InvoiceCheck is quick, easy - and free to use. A bank or factoring company simply enters basic invoice parameters to perform an initial check - in less than 30 seconds. Using blockchain technology, InvoiceCheck keeps transaction data anonymous whilst also providing information on whether an invoice is potentially fraudulent or being double financed. A key difference with InvoiceCheck is that it does not rely on a central registry – using instead the power of a decentralized blockchain. Data is protected from potential competitors and is tamper resistant once on the blockchain.

London School of Economics alumnus and TFM Executive Director, Raj. Uttamchandani, explains that the tool was born out of his own frustrations in trade finance.

“The inability to validate invoices provides yet another obstacle for SMEs in obtaining finance. Combined with the high compliance costs and fines, traditional players are also currently unable to finance SMEs in a cost effective manner, which causes unnecessary obstacles for exporters and slows growth. With InvoiceCheck, we fill this gap by utilizing the blockchain in a way that has never been done before.”

For the first time, banks and factoring companies can all be easily linked for mutual benefit - without fear of giving the data to a competitor with vested interests.

InvoiceCheck has received a huge amount of interest and TFM is working with banks, factoring industry organizations and regulators to promote it's use – with the ultimate goal of eradicating fraud and providing liquidity to SMEs at reasonable rates.

Unlike other solutions, the data on InvoiceCheck is not owned by one central entity.

“We believe InvoiceCheck is a game changer and is an example of the perfect use of a decentralized blockchain.”

The product is still in the early phases and TFM will be implementing more functionality as suggested by users.

For more information, please visit: InvoiceCheck.

To view the full press release please visit: InvoiceCheck Press Release.

June 2016: Former President of FIMBank and Chairman of IFG joins Trade Finance Market

Margrith Lütschg-Emmenegger is a former President of FIMBank and has worked in trade finance for most of her professional life, firstly with Barclays Bank and WestLB AG, where she developed the forfaiting and factoring products into global market leaders.

Margrith was elected as Chairman of International Factors Group (IFG) and Association of Forfaiters in the Americas, founded the International Forfaiting Association (IFA) and has served as board member of the Swiss Association of Forfaiters.

She authored “A Guide to Forfaiting” (Euromoney) and is a globally recognised speaker on the subject of trade finance.

Margrith was awarded the National Order of Merit, the highest decoration of the Republic of Malta in recognition of her 'exceptional contribution towards the development of Malta as a financial centre.

We are pleased to welcome Margrith to our advisory team.

Trade Finance Market signs landmark agreement with the Dubai Multi Commodities Centre (DMCC)

Trade Finance Market will develop Islamic finance products as well as continue to provide inventory and receivables finance to commodity trading companies in the DMCC.

25 July 2015: Trade Finance Market “out to create a new world order on Wall Street”

Business Insider spoke to venture capitalists and banking veterans to put together a list of companies that are looking to usurp finance giants or fill the gaps they've left behind.

For more information visit Business Insider.

26 August 2015: Trade Finance Global: Trade Finance Market allows investors to tap in to a $10tn asset class

For more information visit Trade & Export Finance.

25 August 2015: Finextra - Trade Finance Market platform launches

For more information visit Finextra.

Trade Finance Market partners with the Orchard Platform

Trade Finance Market has signed a strategic partnership with New York based Orchard Platform.

This exciting development will enable Trade Finance Market to increase capital available for financing international trade through exposure to a diverse marketplace of funders.

For more information visit the Orchard Platform.

22 August 2015: Venture Reports: TMF’s platform aids financial trading processes

For more information visit Venture Reports.

21 August 2015: Trade & Export Finance - Trade Finance Market platform launches targeting exporters and investors

For more information visit Trade & Export Finance.

21 August 2015: Giga Startups: Launch of Trade Finance Market platform

For more information visit Giga Startups.

13 August 2015: Trade and Forfaiting Review - A platform for trade

In Trade and Forfaiting Review, a leading trade and supply chain finance industry publication, Peter from our team highlights how the Trade Finance Market platform innovates global trade finance for the 21st century.

For more information visit Trade and Forfaiting Review.

June 2015: Trade Finance Market gives even more protection to funders with credit insurance & collection on transactionss

Trade Finance Market has partnered with an A+ rated insurance company to provide trade credit cover on transactions.

Our partner’s team has over 70 million clients globally and benefits from over 100 years experience in trade, using rigorous credit analysis and proven risk mitigation tools. Further support is provided through robust follow-up and collection of overdue payments.

This exciting development is unique and will enable Trade Finance Market to give greater comfort to funders looking to achieve a higher yield through financing emerging market trade.