Proxtera Rolls Out Network For B2B Connections

Proxtera, a global trading network, has now launched, according to a press release on Monday (March 29).

The network touts its abilities to “empowering wholesale marketplaces to discover new buyers and sellers around the world, transact securely and access a range of financial and logistics services to support a successful trade.”

The company has support from the Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA)’s Business sans Borders (BSB) initiative.

Proxtera is an open global network to connect one’s network with a broader one of like-minded platforms across various industries and countries.

B2B platforms will be able to use it to let buyers and sellers access the global network, and it will expand the demand pool, allowing access to a curated list of small business-centric digital service providers. Proxtera lets B2B platforms capture transaction flows and become a primary trading platform for customers, boosting customer relations.

For service providers, Proxtera is an “alternative distribution channel” that will allow access to new customers in underserved platforms. Service providers will have access to enhanced discoverability, which can lower costs.

Proxtera will also be introducing a “sandbox environment” that will boost innovative solutions and incentivize experimentation, testing solutions and simulation of product performance.

For trade associations, Proxtera works to leverage fast digitalization of associate members through quick onboarding and enhanced connectivity.

“We are building the next-generation platform for the next generation of marketplaces around the world,” said Dr. Naveen Agnihotri, head of technology of Proxtera. “By utilizing sophisticated AI [artificial intelligence] and smart matches, we allow SMEs [small and medium-sized enterprises] to seamlessly access a much larger ecosystem of buyers, sellers, logistics service providers, financing and digital solution providers.”

Proxtera has teamed with Tazapay, an online escrow for international trade, on the Proxtera Project, a new global payment service to streamline international trade.

The service will offer online escrow services for purchasers and vendors by using Proxtera’s connectivity.