Founded: 2024

Products: Digital Negotiable Instruments: Promissory Notes and Bills of Exchange

Overview: Launched in November 2024 following two years of development, ETR Digital’s online Digital negotiable instruments (DNI) solution draws on more than 150 combined years of trade and financial services experience. It is aimed at assisting businesses to release trapped working capital, without the requirement for additional software or hardware. Using data extracted from accounting systems, corporates can use the platform to issue DNIs – bills of exchange and promissory notes – in digital form.

DNIs should enable firms to manage their payables and receivables more efficiently, being faster and safer than their paper counterparts. DNIs are globally recognised, highly secure, referenceable and enforceable, and are readily financed by FIs upon straightforward digital endorsement. By issuing digital promissory notes, for example, companies can extend payables while enabling suppliers to access early payment at a discount.

DNIs are scalable and transferable between any number of parties. They can help corporates benefit from a reduction in funding costs; ETR Digital claims businesses can reduce transaction charges by up to 80% by switching to its service. FIs can also benefit from an instrument that is negotiable and highly enforceable, enabling them to offer 100% financing, thereby maximising drawdown of available facilities.

ETR Digital services are being delivered in partnership with DocuSign, a “globally recognised electronic signature and ID verification provider”, and will also offer quantum encryption technology from Arqit where required.

ETR Digital’s leadership team comprises CEO Dominic Broom, former senior vice-president of working capital technology at Arqit and former head of global trade finance at BNY Mellon; Chief Operating Officer Roger Hynes, who previously served as Arqit’s director of business development for financial services cyber security; Chief Product Officer Wayne Mills, member of the International Chamber of Commerce’s digital taskforce and former head of transaction banking at Lloyds; and Chief Legal Officer Toby Schumacher, a trade-focused barrister.

Clients: Corporates and FIs

Revenue: Not disclosed

Active region(s): EMEA, APAC

Partners: Calculum, DocuSign, ICC UK, Lumin Capital, Traxpay

Employees: 10

Funding: Seed round

Ownership: Limited Partnership

Unique selling point:

• Global specialists in Digital negotiable instrument (DNI) technology dedicated to assisting businesses unlock trapped working capital.
• Freely negotiable/transferable instruments facilitate access to deep pools of available liquidity, lowering costs.
• Data rather than document-led, enabling easy integration with accounting systems and complete transaction auditability.
• DNI signature proofing and workflow management underpinned by proven DocuSign technology recognised in around 100 countries.
• Easy-to-adopt technology with best-in-class encryption tailored to suit customer requirements.

Website: https://etr.digital

Email: [email protected]

Phone: +447721007373

TMI view: Traditional paper-based trade documentation gives yet more ground to electronic forms with this platform to securely digitise negotiable instruments