Phlo Systems, the London-based Fintech startup serving customers in Africa, Europe, South America and the US, is going for further global growth.
Having successfully attracted an initial round of capital investment from private and angel investors, it is now seeking a second injection of funding.
Founded just five years ago, Phlo Systems delivers innovative digital solutions for physical goods supply chain operations. And it remains as passionate as ever to streamlining international trade, finance and customs management, making systems more secure, transparent and cost-effective for the traders, financiers, insurers, transport providers and risk managers who are amongst its growing customer base.
The expected funding will not only enable Phlo Systems to grow its operations in order to further digitise its international supply chain procedures but it will make it easier for SMEs to transact business.
Specifically to help SMEs with matters of procurement and to assist them to navigate their way through the maze of new post-Brexit customs requirements, Phlo Systems has launched tradePhlo, a new cloud-based customs compliance solution, which has already undergone extensive testing by HMRC to ensure it is fully compatible with their processes and procedures.
CEO of Phlo Systems Saurabh Goyal says “It has been designed to demystify complex trade procedures and to enable everyday users to file declarations accurately and efficiently without any need for prior Customs declaration knowledge.”
TradePhlo will be the development focus of the second investment round – as Phlo Systems prepares itself for the millions of new customs declarations which will be completed by UK traders for the first time since Brexit and changes to HMRC IT systems.
PhloSystems will be launching their fundraising campaign on Seedrs crowdfunding platform very soon.
