Tensec, a fintech startup focused on providing cross-border financial services, secured a $60 million credit facility with Upper90 Capital Management. The financing enables Tensec to expand its annual trade volume from $500 million to $5 billion, addressing surging demand from its import/export trading clients.
“The credit partnership with Upper90 is a catalyst for Tensec’s growth,” Helcio Nobre, founder and CEO of Tensec, said. “It allows us to rapidly scale our customer base and transaction volumes, bringing more global trade enablers into the cross-border financial services market. Upper90’s sophisticated approach to structuring growth capital makes them an ideal partner. This credit partnership allows us to bring exponentially more companies into the market as we scale from $500M to $5 billion in transaction volume.”
Billy Libby, co-founder and CEO of Upper90, said, “We are thrilled to partner with Tensec as they embark on this next phase of exciting growth. Cross-border trade is a theme we have been focused on since starting Upper90, and when we met Tensec we were immediately impressed by the tech-first approach to this opportunity utilizing AI to reduce transaction costs and improve the customer experience. The team’s depth and breadth of experience, combined with their technology-first approach to the market, aligns perfectly with Upper90’s focus on capital-intensive, early-stage, technology businesses. Tensec’s platform is not only transforming how trading companies operate — it’s opening up an entirely new market, and we’re excited to support them on this journey.”
