OpenBorder CEO Kruger starts raising cash

Jamie Kruger is out in the marketplace raising the next round of funding for OpenBorder – a multilingual, multi-currency platform which allows small and medium-sized firms to trade globally – in real time.

Jamie has raised the cash before – he was part of the original team that built in the UK, which sold for £48m in 2005. He has a proven track record for getting funding for such web-based, software solutions.

OpenBorder is initially looking at promoting the language services industry on its platform. Common Sense Advisory (CSA), the world’s leading translation industry analyst, sized the world translation market at US$26.3 billion in 2010, predicting it to climb to more than $38 billion by 2013, the growth being driven by increasing international

“OpenBorder enables buyers to leverage the liquidity of the global market to locate suppliers who can deliver exactly the sort of business services which match their real needs”, says Jamie. But what’s in it for the suppliers? “Providers, however large or small, can extend their market reach to the whole planet, and find new customers who need precisely the sort of specialised service they are able to deliver. Suppliers play to their
strengths. Buyers get just what they need.”

Enterprising language service providers will have the opportunity to invest in the venture. “Industry participation will benefit OpenBorder as it will provide domain knowledge and credibility to our business,” notes Kruger.

Given the global scope of the project, the New Zealand Government’s department of Trade and Enterprise is funding merchant bank Woodward Partners to assist OpenBorder raise the necessary capital develop the project.

Jamie Kruger’s LinkedIn profile is here.

Disclosure and disclaimer: I am a director and shareholder in OpenBorder. This post is for information purposes only, it is not investment advice, and it is not an offer to invest in OpenBorder.

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