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Trade finance software provider Surecomp has acquired UK-based ELCY Limited in a move to consolidate the increasingly digital trade finance landscape. ECLY provides e-commerce solutions for processing international trade finance.
The acquisition, announced on Monday, will integrate ELCY’s multi-bank platform, called elcyMBP, into Surecomp’s RIVO™ ecosystem.
The deal brings together two established players in the trade finance technology sector. Toronto-based Surecomp, which has operated for nearly four decades, will absorb ELCY’s customer base across Europe and Asia, particularly in the commodities sector where ELCY has built a strong presence since its founding in 2001.
The acquisition comes as traditional trade finance processes face mounting pressure to digitise, with banks and corporates seeking more efficient ways to manage complex international transactions. Both companies’ solutions are cloud-native and run on Amazon Web Services, which should smooth technical integration.
“Following a strong year and momentum building in digital trade finance adoption, we are proud to expand our network with such prestigious customers,” said Guy Perry, Surecomp’s chief executive.
ELCY’s founder Robin Cohen characterised the timing as “very exciting” for digital trade finance, suggesting the combination would allow the companies to “shape the future of digital trade” by leveraging Surecomp’s global reach and integrated back-office capabilities.
The deal marks further consolidation in the trade finance technology sector, as providers seek scale to meet growing demand for digital solutions that can streamline traditionally paper-heavy processes.
Surecomp said that elcyMBP will become a module within its RIVO™ platform, potentially offering clients expanded functionality and access to a broader network of trade finance participants.
