Trade X operates an AI-driven vehicle marketplace (the TRADE X ‘Brain’) that connects buyers and sellers, aggregates global pricing analytics, and automates compliance, payments, inspection, transport, customs, retitling and other cross-border processes. The platform lets users search, post vehicles for sale, request specific vehicles, access arbitrage opportunities, obtain trade financing and transact in their chosen currency via mobile, tablet or desktop. Trade X handles quality checks, international payments, logistics, homologation, customs clearance and speedometer conversion, simplifying previously manual cross-border transactions. The company intends to use the new funds for acquisitions and global expansion across North America, Europe, Asia, Africa and the Middle East. Financially, Trade X completed an additional US$10.0M equity round at a US$250.0M pre-money valuation and earlier raised US$35.0M in equity from Aimia Inc.; it also closed a US$50.0M senior secured revolving credit facility (with an accordion to US$100.0M). The business is led by Founder and CEO Ryan Davidson and EVP/COO Luciano Butera and is based in Toronto, Canada. TRADE X operates a 24/7 global B2B platform that simplifies buying and selling pre-owned vehicles across international borders via mobile, tablet or desktop. The fully integrated marketplace handles compliance, insurance, payments, transport, logistics, retitling, customs clearance and other cross-border requirements and stands as a third-party escrow. Its proprietary 'Brain' technology uses machine learning and AI to power search, global pricing analytics, trade financing, arbitrage opportunities and user onboarding. Users can post vehicles, request specific inventory, transact in multiple currencies, and benefit from instant local-currency seller payments and strict license/compliance verification. For the 12 months ending December 31, 2020 TRADE X reported gross vehicle sales of C$65 million; gross vehicle sales for the six months to June 30, 2021 were C$77 million and the company generated positive EBITDA. TRADE X plans to use new capital for strategic acquisitions and to expand its cross-border platform to dealers, fleets, rental and mobility providers, and importers/exporters across multiple continents.

Total raised

$45M

Funding rounds

2

Latest round

Equity

Latest activity

Aug 2021