GTR Ventures, the world’s first investment and venture-building platform specialized in trade and supply chain, has announced an investment in Orbitt — an African-focused fintech deals platform.
GTR Ventures will strengthen Orbitt’s trade finance capabilities from a product and innovation perspective, as well as develop its relationships with global and digital trade financiers.
The announcement falls during the Global Trade Review (GTR) Africa Trade and Investment Conference in London, which has become a key annual gathering for international trade, export and project finance professionals interested in the continent.
“Our partnership with GTR Ventures comes at an exciting time for us,” said Lanre Oloniniyi, CEO and Co-Founder of Orbitt. “Africa’s trade finance gap exceeds $100bn. By leveraging GTR’s tremendous footprint in Africa — Nigeria, South Africa, Kenya, and Zambia, we see Orbitt working alongside banks and funds, in bridging this gap.”
Singapore-based Kelvin Tan, CIO of GTR Ventures adds, “Africa-Asia trade today stands at $500 bn, annually. However, capital providers to Africaremain hampered by the lack of financial tools and access to data. Orbitt’s technology can help lenders manage their risks, and to complete timely transactions in otherwise disconnected markets. We welcome partnerships with all stakeholders to improve credit transparency on the continent.”