Ocean is a cross-border trade platform that utilizes Web3 and AI technology to provide instant credit limits and financing solutions for small and medium-sized enterprises in the global supply chain. By paying suppliers directly and offering flexible repayment terms, Ocean addresses the cash flow challenges faced by businesses when importing goods.
Funding
$10.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
FCSVSCFounders
Product
Problem
Small and medium-sized enterprises (SMEs) often face cash flow challenges when importing goods, due to the time lag between paying suppliers and receiving payment from customers. Traditional financing options can be slow, inflexible, and require significant collateral, hindering SMEs' ability to compete in the global market.
Solution
Ocean provides a cross-border trade platform that leverages Web3 and AI to offer instant credit limits and financing solutions to SMEs in the global supply chain. The platform directly pays suppliers on behalf of the SME, offering flexible repayment terms aligned with their cash cycle. By connecting to the SME's accounting, e-commerce, and banking data, Ocean assesses creditworthiness and provides access to capital without requiring personal guarantees or equity dilution. This enables SMEs to secure better pricing from suppliers through bulk purchasing and manage inventory more effectively. Ocean offers open credit lines and a stock-and-release program, allowing businesses to buy goods from overseas suppliers on extended terms or finance, ship, and stock inventory in Ocean's warehouse for local pickup and payment.
Target Audience
The primary target audience includes B2B, B2C, e-commerce, subscription, wholesale, and retail businesses located in the US, UK, EU, Canada, Australia, New Zealand, and Singapore, with monthly revenues exceeding $50,000.
Features
- Instant credit limit assessment via connection to accounting, e-commerce, and banking data
- Direct payment to overseas suppliers on behalf of the SME
- Flexible repayment terms (30, 60, 90, or 120 days) aligned with the SME's cash cycle
- Open credit lines for creditworthy companies, enabling purchases on 90-120 day terms
- Stock-and-release program for businesses without credit insurance, offering financing, shipping, and warehousing
- AI-powered risk assessment and fraud detection
- Web3-based platform for secure and transparent transactions