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Skip navigation today announced the completion of its US$50 million 1st round funding. The company provides an integrated internet-based service enabling the rapid and secure transfer of data and documents to facilitate world trade flows. Created by the world’s banking and logistics communities, is the emerging global standard in international trade.

Barry Morse, Chief Executive of said, "Investors recognise that provides the enabling infrastructure to revolutionise the processes of world trade, and there has been a tremendous response to our offer. We will be investing in developing our global reach and deepening our relationship with our client base, which comprises many of the world’s largest manufacturing, financing and shipping companies. The funds will also be used to make our services faster to implement, easier to use and cheaper to deliver as we consolidate our position as the world standard in the electronic transfer of trade documentation."

Fifty of the world’s largest multinational corporations, banks, logistics companies and B2B exchanges have already joined the service. The growing list of customers includes seven out of the top ten international banks, five out of the top ten container shipping companies, B2B exchanges such as Ferrous Exchange and EMETRA (backed by Enron and MG); and multinationals such as Hitachi, Samsung Electronics, Mitsui & Co, Otto Versand and Tate & Lyle.

The community is further supported by 35 technology, application and services partners, including Sun Microsystems, AMS and Mercator.

Independent observers have suggested that the cost of documentation and administration absorbs $420 billion a year, representing 7% of the total value of world trade. Some customers say that the service can reduce these costs by over 30%.

UBS Warburg arranged the funding. According to Managing Director Tom Cooper, "US$50 million is a significant amount to raise against a difficult investment climate. The success of this financing demonstrates the robustness and exciting potential of's business."

Baring Asia Private Equity Fund II, a leading technology investor in Asia, has invested USD $15 million, and Palio Portfolio Ltd. has invested USD $5 million. This funding was led by Apax Partners Europe IV fund, which has invested $30 million in the company in this funding round. The existing shareholders, SWIFT (the Society for Worldwide Interbank Financial Telecommunication) and the Through Transport (TT) Club have maintained their participation.

Jean Eric Salata, Managing Partner, Baring Private Equity Partners (HK) Limited, who will join the board of, said "Our investment in is consistent with our focus on leading B2B enabling solutions and their application to existing bricks & mortar business processes. Asia’s economies are powered by trade flows, and, which has made enormous strides in gaining acceptance among the Asian trading community, will play a key role in reducing inefficiencies that exist in today’s manual trade documentation processes."

Mr. J.W.Metcalfe, Director of Palio Portfolio Ltd. and Chairman of the parent company, Palio AG stated, " Palio is very excited to participate as an investor in With these funds can aggressively roll-out its services worldwide and establish itself as the leader in its field.'s service has been proven to be of significant value to its existing users. "

Apax Partner’s Director Tim Wright said "This additional investment from international partners demonstrates the growing commitment of the world’s financial community to bolero’s global trading platform. We are delighted with the progress has made this year."


Issued by:

Dirk Singer +44(0)207 360 6061
Sian Morgan +44(0)207 360 6062

On behalf of

About Baring Private Equity Partners Asia and the Baring Asia Private Equity Funds

Baring Asia Private Equity Fund I and II ("Baring Funds"), advised by Baring Private Equity Partners Asia ("BPEP Asia"), has invested over USD 300 million in leading technology companies in Asia Pacific. In addition to investing in technology companies based in Asia, BPEP Asia leverages on its presence in Hong Kong, Singapore and San Francisco to add value to global companies such as BPEP Asia is the Asia-Pacific arm of Baring Private Equity Partners, a global private equity firm, a member of the ING Group. BPEP and its affiliates currently manage USD 1.7 billion in private equity.

About Apax Partners

Apax Partners is one of the world’s leading private equity investment groups. It pursues a balanced equity portfolio strategy, investing in companies at all stages of development from start-up to buy-out. Founded in 1972 in the United States (where it operates as Patricof & Co) and in Europe, Apax Partners currently has thirteen offices worldwide and over EUR 7 billion under management or advice on behalf of leading institutional investors. Some of Apax Partners Funds’ recent investments in the Internet sector include, EasyEverything, 12snap, Healy Hudson and The group has investments in 250 companies worldwide, 107 of which are in the TMT space.

About Palio Investments Ltd

Palio Portfolio Ltd. is a subsidiary of Palio AG, a Swiss Investment Company, that specialises in international investments in private and public equity, convertible and high yield debt securities focusing on the opportunities for capital appreciation created by the rapid convergence of technology, communication and commerce. Palio Portfolio Ltd. invested in because the b2 ecommerce sector is in line with the investment guidelines of the company and Palio Portfolio Ltd. believes to have a great potential for growth.

About was created at the end of September 1999 by the world’s financial institutions represented by Society for Worldwide Interbank Financial Telecommunication (SWIFT) and the world’s logistics community represented by the Through Transport (TT) Club and is a global initiative to move trade onto the Internet. The Bolero System provides secure electronic transmission of business data and documents along the entire trade chain from front end order processing and management to backend trade document exchange. is the trading name of Bolero International Ltd.

This press release was distributed by ResponseSource Press Release Wire on behalf of Bolero International Limited in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit