Trace Finance

The company's core business revolves around providing cross-border banking and foreign exchange services tailored for startups and tech enterprises in Latin America. Trace Finance tackles the challenge of moving money internationally, which traditionally could take over a month and incur fees as high as 4%, by offering a more efficient platform. Through process automation and working with multiple banking partners, the firm significantly reduces transaction costs to as low as 0.2% and streamlines the onboarding process. The service portfolio includes creating U.S.-based bank accounts for Latin American startups, facilitating international money transfers, and offering foreign exchange services with real-time pricing. Additionally, Trace Finance provides paralegal services to assist with necessary registrations and compliance for offshore operations.

In February 2022, Trace Finance secured a $4.3 million seed funding round led by HOF Capital, with participation from Circle Ventures and Mantis VC, among others. This capital was earmarked for expanding its operations in both Brazil and the United States and for further developing its global banking solutions. The company serves a client base that includes startups, payment facilitators, tech enterprises, and companies in iGaming and e-commerce. Its product suite is delivered via APIs, enabling clients to integrate services like PIX, TED, and boleto payments, manage account balances, and execute cross-border transactions directly through their own systems.