South Africa:Trade Shield secures $826,253 from FNB's Vumela Fund
Trade Shield, a tech-driven company specialising in end-to-end credit risk management solutions, has raised R15m in funding from FNB's Vumela Enterprise Development Fund, in partnership with Edge Growth.
Trade Shield says the funding will be used to unlock growth opportunities in South Africa and globally. Since its launch in 2023, Trade Shield has demonstrated growth, strong market demand, and the potential to scale as a SaaS-based business.
The Vumela Fund was established in 2010 as a collaboration between FNB Business Banking and business development specialist Edge Growth to provide growth capital to Black-owned SMEs. Its objective is to invest in high-growth small and medium enterprises to support their development and expansion.
"Trade Shield is an exciting business with a relevant and novel product offering that radically improves its customers' credit management processes.
"They have an impressive management team, deep industry knowledge, and an innovative approach that is supported by a market with strong tailwinds. We are excited about the growth that our funding unlocks," says Sally Kitley, associate principal at Edge Growth.
"The Trade Shield product demonstrates impact by showing how trade credit can unlock business growth. It is innovative, relevant, and value-adding to the businesses that use it."
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