Our aim is to provide a more efficient and cost effective financing framework for SMEs involved in global commerce.

We're excited to announce our $11 million Seed funding round, led by Team8 with participation from ZIM Integrated Shipping Services Ltd. As part of their strategic cooperation, ZIM has extended 40Seas a three-year, account receivables based, senior secured, revolving credit facility of approximately $100 million, with an option to extend it to $200 million.

To better serve customers in its ecosystem and generate new revenue streams, ZIM will embed 40Seas into the freight forwarding services offered by Ship4wd, its digital freight forwarding subsidiary, targeting the SME market. Through this integration, ZIM’s SME customers will benefit from a digital financing solution designed to reduce operational and administrative overheads and ease the burden of freight and inventory expenses.

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40Seas was founded by Eyal Moldovan, Co-founder and CEO and formerly the General Manager at Payoneer; Gil Shiff, Co-founder and COO, who co-founded ConvertMedia (later acquired by Taboola); Suki Gao, Co-founder and GM of 40Seas China, who spent a number of years at PayPal, Payoneer, and Ant Group; and Igor Zaks, Co-founder and Chief Risk Officer, formerly an executive at Dell, Citibank, Daiwa, and Commerzbank.

“As a kid working in my father's warehouse, I recall watching him routinely struggle with suppliers and banks to get extended payment terms and financing for his import business,” said Eyal Moldovan, 40Seas Co-founder and CEO. “In the 25 years since, the trade financing landscape hasn’t kept pace with the needs of SMEs operating in the digital era. Given today’s harsh macroeconomic conditions, now more than ever, SMEs need easy access to financing to have the best chance of survival.”

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Eli Glickman, President and CEO of ZIM, said: “With our significant investment in 40Seas, we continue to advance disruptive technologies to promote digital innovation in the shipping industry, while developing additional streams of revenue that complement our core shipping business. We are thrilled to partner with Team8, one of Israel’s leading and most innovative venture groups, on this ground-breaking initiative, which we will also soon offer to our customers worldwide, initially via our digital freight forwarder, Ship4wd. Importantly, with this strategic cooperation, 40Seas will be able to leverage ZIM’s in-depth knowledge of cross-border trade and our close relationship with the market and global SME customers to bring this advanced, much-needed digital financing solution to the market.”
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Rakefet Russak-Aminoach, Managing Partner at Team8, added: “Amidst challenging economic conditions and a fractured global supply chain landscape, SMEs need more streamlined and flexible ways to access financing. By participating in this investment round, ZIM, a multi-billion dollar industry heavyweight, has provided a major stamp of validation and confidence in the 40Seas platform.”

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