visimoney
TLDR:
- Xalts, a fintech start-up, has acquired Contour Network to expand its trade finance platform.
- Founded in 2022 by former executives from HSBC and Meta, Xalts aims to digitize processes for financial institutions.
Xalts, a Singapore-based fintech platform, has announced the acquisition of Contour Network, previously owned by a consortium of global banks. This move allows Xalts to accelerate its growth by expanding its digital platform that enables banks to digitize processes and connect with clients. The acquisition will help Xalts offer these services to more banks and businesses globally. With a focus on trade and supply chain finance, Xalts aims to digitize a market that currently has less than 1% digitization. Supported by investors like Accel and Citi Ventures, Xalts is poised to innovate and drive change in the global trade finance industry.
