Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


TradeWindow Raises NZ$15 Million In New Capital As Trade Tilts Towards Digitalisation

Auckland, NZ. TradeWindow, a trade-tech company helping importers and exporters on the front line of global trade to digitalise their trade processes has raised NZ$15 million in an over-subscribed capital raise, as it continues to pursue growth across the Asia-Pacific region.

The private capital raise was over-subscribed by $3 million, reflecting strong demand as TradeWindow demonstrates growth in customer numbers and value on both sides of the Tasman.

Leading the investment round were existing strategic shareholders ASB Bank (owned by Commonwealth Bank of Australia) which provides trade finance to hundreds of New Zealand exporters, and Quayside Holdings Ltd - majority shareholder of the Port of Tauranga.

Another notable name to join the share register in the latest capital raising is Anna Mowbray, one of the owners of ZURU Group and CEO of ZURU Toys, one of the world’s leading toy developers and manufacturers, and a major multi-national importer and exporter in its own right. She joins the Perth-based Rae Family (who established and sold the challenger fuel brand Gull in New Zealand and Australia), two family offices which formerly owned Sonfrana Unilines and Pacific Direct Line respectively, and the Wiltshire family in New Zealand.

TradeWindow’s CEO, AJ Smith says the capital will support the next phase of development for the rapidly-scaling business which has grown to 75 employees.

TradeWindow’s solutions facilitate more than 1.5 million TEU container movements and 89,000 tonnes of airfreight per year.

Leading exporters to use the company’s solutions span most major productive sectors, including T&G Global, Cedenco Foods (horticulture sector), Whittakers and Jack Link’s (processed foods), Greenlea Premier Meats, ANZCO, Silver Fern Farms (meat sector), Synlait, Open Country (dairy), Pan Pac Forest Products Ltd (forestry) and Sealord and Independent Fisheries (seafood).

“We are delighted with the strong continuing interest and support from strategic investors. We believe there is potential for a steep uptake of digital solutions as Australasia’s largest exporters wean off out-of-date paper systems and on to digital solutions in search of the productivity gains which many exporters are seeking out in the face of global supply pressures, rising inflation and likely impact of rising interest rates,” Mr Smith says.

The company has developed a digital platform known as TradeWindow Cube, which uses distributed ledger technology (also known as ‘blockchain’) which acts as a trusted intermediatory and ‘single source for the truth’ for all the parties who make trade happen including importers, exporters, customs departments, transport and finance providers.

TradeWindow has recently led successful pilot digital trades between New Zealand and Singapore, Taiwan and the United States in collaboration with leading exporters and Government agencies in each of these bi-lateral trade lanes.

The company is accredited by the New Zealand Government to issue Certificates of Origin and as an official storage solution certified by New Zealand Customs. It is also the official Australia and New Zealand representative of the Pan Asian E-Commerce Alliance (PAA), the influential regional body driving the digitisation of trade across Asia-Pacific.

Mr Smith said the latest capital raising will help the company continue to win market share in New Zealand and Australia.

“We are considering our options for a direct listing on the NZX later this year. Our stakeholders include large enterprises and government agencies both here in New Zealand and abroad which are risk-averse and want to ensure their business-critical data is handled by a partner that employs best practice corporate governance and reporting. In line with this we see that being a public company will support our status as a trusted partner in the global trade ecosystem, as opposed to looking to a possible listing as a mechanism to raise further capital,” Mr Smith says.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Energy Resources Aotearoa: New Law On Decommissioning Could Be Costly Overkill
A new law on decommissioning oil and gas fields passed by Parliament today has good intentions but is overkill, according to Energy Resources Aotearoa. "We strongly support operators taking responsibility and paying the costs for decommissioning, which is what all good operators do," says chief executive John Carnegie... More>>

Commerce Commission: News Publishers’ Association Seeks Authorisation To Engage In Collective Bargaining

News Publishers’ Association of New Zealand Incorporated seeks authorisation and provisional authorisation to engage in collective bargaining with Facebook and Google. The Commerce Commission has received applications from News Publishers’ Association of New Zealand Incorporated (NPA) seeking authorisation and provisional authorisation on behalf of itself... More>>

Reserve Bank: MPC Continues To Reduce Monetary Stimulus
The Monetary Policy Committee agreed to raise the Official Cash Rate (OCR) to 0.75 per cent. The Committee agreed it remains appropriate to continue reducing monetary stimulus so as to maintain price stability and support maximum sustainable employment... More>>

PriceSpy: Producer Prices Increase
New Black Friday and Covid-19 Report* released by PriceSpy says people’s fear of stepping inside physical shops during big sales events like Black Friday has risen since last year; Kiwis are still planning to shop, but more than ever will do it online this year... More>>

NZ Skeptics Society: Announce Their 2021 Awards, And Dr Simon Thornley Wins The Bent Spoon

Every year the New Zealand Skeptics presents its awards to people and organisations who have impressed us or dismayed us, and this year it’s been hard to pick our winners because there have been so many choices!.. More>>

REINZ: Sales Volumes Leveling Out

Data released today by the Real Estate Institute of New Zealand (REINZ) shows there were 44 fewer lifestyle property sales (-2.6%) for the three months ended October 2021 than for the three months ended September 2021... More>>

BNZ: Auckland Retail Card Spending Bounces Back In Step Two
Bank of New Zealand (BNZ) card spending data released today shows one week of retail therapy at Alert Level 3 Step 2 has been enough to raise card spending in Auckland to levels greater than before the Delta lockdown... More>>