Electronic bills provider WaveBL raises $26m in Series B funding round
WaveBL, a prominent provider of electronic Bills, has successfully raised $26 million in its latest funding round, further solidifying its status as a key player in the digital trade document sector on a global scale.
The funding round was led by NewRoad Capital Partners, an investment firm focused on innovative and growth-oriented companies in the supply chain and logistics, retail, and marketing technology sectors.
Existing investors including ZIM, Contour Venture Partners, Marius Nacht, Frank Sica, and Techstars Central also participated in the round. Additionally, Reefknot Investments, backed by Temasek and Kuehne + Nagel, joined as a new investor, highlighting the growing interest in WaveBL’s solutions.
Gary Adams — NewRoad Capital Partners operating partner said: “NewRoad Capital Partners is excited to join WaveBL in an effort to accelerate the digitization of global trade from today’s manual, paper-based processes to technology that enables increased speed and security, reduces costs, and creates a more environmentally friendly solution. All reasons why we are excited to be a part of this transformational journey.”
Electronic bills provider WaveBL rakes in $26m in Series B round. (Photo courtesy of PRNewsfoto/WAVE BL)
WaveBL, led by former technological leaders and experts from the Israel Defense Forces, has emerged as a premier digital platform for the electronic transfer of trade documents.
Leveraging its proprietary blockchain technology, WaveBL enables secure, authenticated, and instantaneous transfer of unique electronic trade documents while ensuring compliance with universal processes and regulations.
The company’s multi-carrier platform has gained trust from leading ocean carriers and NVOCCs such as MSC, ZIM, Hapag Lloyd, ONE, Leschaco, and Saco. It is designed to cater to the needs of all parties involved in trade, providing a seamless experience.
WaveBL’s strategic partnerships with major customers and stakeholders in global trade have been instrumental in driving faster digitalization and widespread adoption of electronic trade documents.
The company is well-positioned to maintain its leadership in the digital trade document sector, setting new standards of trust and efficiency in international trade. With the latest funding infusion, WaveBL is poised to accelerate its growth and continue delivering innovative solutions that transform the way trade documents are managed in the digital era.
Noam Rosenfeld — WaveBL CEO said: “Our goal is to streamline, speed up and reduce the cost of global commerce by breaking the trade industry’s paper addiction.
“We offer blockchain technology as the new gold standard for trust between trade partners, a game changer for international trade. The investment will be used to expedite our growth by increasing our employee base, primarily in sales, marketing, and R&D.”