ADVERTISEMENT
TechEconomy
Thursday, June 5, 2025
No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Podcast

Home » FrontEdge Secures $10 Million to Boost African Cross-Border Trade

FrontEdge Secures $10 Million to Boost African Cross-Border Trade

Joan Aimuengheuwa by Joan Aimuengheuwa
November 22, 2023
in StartUPs
0
FrontEdge Secures $10 Million to Boost African Cross-Border Trade
Moni Alli, FrontEdge Founder

Moni Alli, FrontEdge Founder

RelatedPosts

Mobile Commerce: Samsung Partners Glance to Launch AI Shopping Experience

Mobile Commerce: Samsung Partners Glance to Launch AI Shopping Experience

June 4, 2025

Thunder Code: African Founders Behind $120M Exit Return with $9M AI Testing Startup

June 4, 2025

FrontEdge, a Lagos-based fintech, has raised $10 million in a debt and equity seed round, with over 70% of the funding coming from the debt component.

The fund will help in achieving the mission of facilitating the growth of African cross-border trade by providing SME exporters and importers with working capital and innovative software tools, FrontEdge has set for itself.

Founded in 2021 by Moni Alli, a former McKinsey consultant with a background in digital transformations for major banks in Nigeria, South Africa, and Morocco, FrontEdge addresses the SME financing gap in Africa. The fintech offers a lending-first platform that goes beyond traditional banking models, enabling SMEs to access upfront capital without the need for collateral.

Alli, in an interview with TechCrunch, highlighted the outdated nature of traditional banking processes, where balance sheets are often geared towards large corporates, leaving SMEs underserved. FrontEdge seeks to digitise and tailor financing processes specifically for African SME exporters engaged in cross-border trade.

Unlike banks that rely on collateral-based lending, FrontEdge intervenes with upfront capital based on transaction-based underwriting. The fintech steps in when goods are on an actual vessel or at the warehouse, providing capital with average payment terms set between 60-90 days. This accelerates receivables, allowing exporters to engage in more transactions.

FrontEdge has evolved beyond its lending-first approach, integrating with databases to gain insights into cross-border trading dynamics and underwriting offshore credits. The platform facilitates the setup of overseas offshore accounts, addressing challenges related to capital controls and high fees within the banking system.

The fintech operates as a vertical bank, offering financing, cross-border payments, and offshore accounts tailored to the specific needs of African traders. In addition to financial services, FrontEdge provides software tools such as logistics management, cargo insurance, and document management to complement its offerings.

FrontEdge, listing JP Morgan and Providus Bank among its partners, aims to empower African exporters with funding and tools to compete on a global scale. The company’s CEO emphasizes the importance of creating a level playing field for African exporters against counterparts in South America, Europe, and the U.S.

Since its launch, FrontEdge claims a 20% month-on-month growth of SME exporters on its platform, with customers reportedly tripling their sales. The fintech’s revenue comes from a spread of the transactions it finances, and it emphasizes avoiding losses while demonstrating successful repayments.

FrontEdge plans to use the capital raised to hire more talent, expand its financing product across multiple African countries, and launch additional products to diversify revenue streams. The lead investor, TLG Capital, expresses confidence in FrontEdge’s mission to empower African SMEs and facilitate their engagement in global trade.

Loading

Advertisements
MTN ADS

Author

  • Joan Aimuengheuwa
    Joan Aimuengheuwa

    Joan thrives at helping individuals and businesses scale via storytelling...

    View all posts
0Shares
Tags: Cross-Border TradeFrontEdgeMoni Alli
Previous Post

SAHCO CEO Basil Agboarumi Bags Best Practice Award

Next Post

How South African Companies can Empower Themselves with Authentic Change Leadership

Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

Related Posts

Mobile Commerce: Samsung Partners Glance to Launch AI Shopping Experience
StartUPs

Mobile Commerce: Samsung Partners Glance to Launch AI Shopping Experience

by Joan Aimuengheuwa
June 4, 2025
0

Glance, the consumer technology company backed by Google has launched an integrated lock screen version of Glance AI, an AI...

Read more
Thunder Code: African Founders Behind $120M Exit Return with $9M AI Testing Startup

Thunder Code: African Founders Behind $120M Exit Return with $9M AI Testing Startup

June 4, 2025
Moniepoint to Acquire 78% of Kenya’s Sumac Bank After Regulatory Approval

Moniepoint to Acquire 78% of Kenya’s Sumac Bank After Regulatory Approval

June 3, 2025
BPC Expands Operations in Nigeria, Appoints Dapo Adeosun as MD

BPC Expands Operations in Nigeria, Appoints Dapo Adeosun as MD

June 2, 2025

LuminX Closes $5.5M Round to Scale Edge AI for Smarter Warehousing

June 2, 2025
Top U.S. Cities Where Tech Professionals Earn Over $100k

Top U.S. Cities Where Tech Professionals Earn Over $100k

June 2, 2025
Next Post
South African associations in Germany

How South African Companies can Empower Themselves with Authentic Change Leadership

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Techeconomy Podcast

Techeconomy Podcast
Techeconomy Podcast

Infowave is brought to you by TechEconomy. Every week we will bring new stories from startups and influencers who are shaping and changing the world we live in. We’ll also bring you reports on topics you should know.

Follow us @techeconomyng for more.

TECH TALK EPISODE 2
byTecheconomy

PRODUCTIVITY AND WORK-Life Balance

TECH TALK EPISODE 2
TECH TALK EPISODE 2
May 22, 2025
Techeconomy
CYBERSECURITY ESSENTIALS
April 24, 2025
Techeconomy
Digital Marketing Trends and strategies for 2025 and beyond
February 27, 2025
Techeconomy
Major Lesson for Techies in 2024 and Projections for 2025
December 6, 2024
Techeconomy
Major Lessons for Techies in an AI-Driven World | Techeconomy Business Series Highlights
November 26, 2024
Techeconomy
Maximizing Profitability Through Seasonal Sales: Strategies For Success
November 8, 2024
Techeconomy
Techeconomy Business Series
October 15, 2024
Techeconomy
PRIVACY IN THE ERA OF AI: GETTING YOUR BUSINESS READY
May 30, 2024
Techeconomy
Unravel the Secrets of Marketing Everywhere All At Once with Isaac Akanni from Infobip | Infowave Podcast Episode 1
February 9, 2024
Techeconomy
The Role of Ed-tech in Life Long Learning and Continuous Education
October 19, 2023
Techeconomy
Search Results placeholder

WHAT IS TRENDING

https://www.youtube.com/watch?v=g_MCUwS2woc&list=PL6bbK-xx1KbIgX-IzYdqISXq1pUsuA4dz

Follow Us

  • About Us
  • Contact Us
  • Careers
  • Privacy Policy

© 2025 Techeconomy - Designed by Opimedia.

No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS

© 2025 Techeconomy - Designed by Opimedia.

Translate »
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.