Francis A. Rozario, the lead investor, used to head Temasek investments into Asian banks
CCRManager, a Singaporean company that facilitating for the trade industry, announced today it has raised a US$6.5 million Series A led by Francis A. Rozario, who used to lead Temasek investments in Asian banks.
Besides Rozario, who is now the Chairman and CEO of Asia Capital, was joined by Global eTrade Services, a subsidiary of CrimsonLogic. Family offices and individual investors from the banking and finance industry also participated.
The money will be used to expand the global CCRManager network. It will also go towards improving the product and technology.
The company has built a tool to help facilitate the transactions of trade finance assets (financial resources related to the trade industry). Essentially, the bank will post the asset they are selling on a marketplace-type forum. Two sides can then negotiate a contract and execute it digitally or manually.
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After the transaction, a series of tasks are generated to guarantee the legitimacy of the deal. Finally, CCRManager offers post-deal items like data analytics and compliance help.
“We are honoured by the confidence that our investors have shown in us. It was of paramount importance for us to work with investors who have a deep and personal understanding of our business, and an overwhelming passion for how our platform can truly be transformative for the global financial community,” said CCRManager Founder, Tan Kah Chye, in a statement.
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The company previously received support from a Monetary Authority of Singapore grant named the Financial Sector Development Fund.
The startup has 40 partners in 17 countries.
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