Led · Equity · Jul 2021

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.

Participated · Equity · Sep 2011

Cardlytics is an advertising and technology company that pioneered card-linked marketing, targeting ads to individual consumers based on recent purchase behavior. Through partnerships with nearly 400 banks, including Bank of America, PNC Bank and Lloyds Banking Group, Cardlytics has insight into consumer spending across stores and categories for roughly 70% of U.S. households. Thousands of advertisers use its patented technology to reach consumers with relevant messages while ensuring personally identifiable information never leaves the bank. The company plans to use the newly raised funds to extend and expand the breadth of its capabilities to make marketing more relevant and measurable. Its latest financing of $70 million brings total venture funding to just over $170 million, reflecting its growth-stage financial position. Cardlytics is headquartered in Atlanta and maintains offices in London, New York and San Francisco. Cardlytics operates a transaction-driven marketing platform that delivers targeted, merchant-funded offers via partner financial institutions' electronic channels, including mobile, SMS, email and online banking. The company deploys technology within banks to leverage household purchase data while fully protecting consumer privacy and financial institution data. Its platform runs on a pay-for-performance model that eliminates merchant risk and enables precise targeting and measurability. Cardlytics said it will reach 70% of U.S. households in Q1 2012 and is positioning the product as a global solution. The company is pursuing U.S. and international growth through a long-term strategic alliance with Groupe Aeroplan. Founded in 2008 and based in Atlanta, Cardlytics has closed multiple funding events to scale operations. Cardlytics provides a transactional marketing platform that connects national and regional retailers and service providers with consumers via online banking channels. The platform leverages consumer transaction data, such as purchasing history, to target highly relevant offers to individual customers. Its multi-channel approach includes online banking, SMS, email, mobile and social networks. The company says financial institutions will be providing retail offers as rewards to over 10 million consumers based on individual purchase behavior by next fall. Cardlytics announced an $18 million financing led by ITC Holdings and Kinetic Ventures. All prior investors participated in the round, including Canaan Partners, Polaris Venture Partners and Total Technology Ventures; the company has not disclosed total capital raised to date.