According to TechCrunch, Polytrade, a blockchain-based trade finance protocol, completed a $3.8 million seed round led by Alpha Wave, Matrix Partners, Polygon Ventures and CoinSwitch Ventures, with other investors including Singularity Ventures and GTM Ventures. The company was previously backed by Polygon co-founder Sandeep Nailwal and QuickSwap co-founder Sameep Singhania, among others. Polytrade's initial modules include a financing arm to bring real-world yields to Web3, a platform designed to provide working capital financing and invoicing to SMEs and large corporations. The company is open to the retail market, but it is primarily focused on institutional players and also hopes to expand in Latin American, US and European markets.