TradeCore, the Belgrade based fintech raises $3 million in funding led by South Central Ventures(SCV), the fund announced. Reportedly, the money will be used for international expansion with a special focus on the Far East as well as to raising the brand awareness.
“Investment funds will be used to support international expansion to the Far East and new offices in Tel Aviv and beyond. TradeCore has ambitious plans to expand its enterprise client base, increase product development velocity and raise brand awareness”, says the TradeCore CEO Stefan Pajković.
Founded in 2013 by the former banker Pajkovic, TradeCore is a fintech startup based in London and Belgrade that builds innovative tools for the retail trading and broader financial services industry. At the moment the company have more than 50 employees and still hiring. Committed to delivering smart and efficient fin-tech products and services, the TradeCore’s main product is their Broker IQ, an innovative broker management software that offers customer on-boarding and ID verification, comprehensive analytics, Back Office and CRM, Payment processing, Marketing integration and automation, and many custom-crafted features which helps brokers attract, convert, monetize, and retain customers.
Besides their flagship product Broker IQ, this Serbian startup is also working on their new product – ComplyIQ – a platform that suppose to provide customers with the ability to implement sophisticated KYC/AML (Known Your Customer/ Anti Money Laundering) workflows for individual and corporate clients, significantly accelerating the onboarding process, and augmenting customer data with that of leading industry service providers.
Being always at the forefront of innovation in the ever-changing finance industry, as explained in the SCV’s announcement, is the main reason for the fund’s investment in this fin-tech:
“The rules of the game in Fin-tech are changing rapidly, which creates new opportunities for innovative companies like TradeCore. It has repeatedly been able to prove itself in a competitive environment, catering to a global client base in an industry that allows no room for error. We are extremely pleased to be working with the TradeCore team and help enable the next stage of company’s growth,” said the SCV’s Managing Partner Jan Kobler in the announcement.
With offices in Belgrade, Zagreb and Skopje, South Central Ventures (SCV), through Enterprise Innovation Fund (ENIF), is focused on tech companies in the Balkans.
The € 40 million fund is dedicated primarily to early stage and growth investments. Within the fund’s ‘seed pocket’, € 1.5 million is allocated for investments of up to € 100 000 per company. The majority of the fund is allocated for early stage and growth investments of up to € 3 million per company. These investments are intended to fuel the international business expansion and growth of the most promising tech startups.