Crossborderit raised funding from Bring Ventures and other investors.

Crossborderit, a Stockholm, Sweden-based SAAS developer of an API connects shippers, merchants and carriers in order to handle customs duties and fees at the time of purchase - prepaid customs fees, announced signing an investment agreement for raising the capital.

The money was raised from Bring Ventures, Norway Post venture arm, joined by Per Victor founder of Firstvet, Clover Hill Holdings LTD and MEI Invest.

Crossborderit (CBIT), founded in 2019 by Damon Baca, CEO Marcus Oliveira and Peter Jacobsson, developed a SAAS that allows Integrators, Postal authorities and 3rd Party Logistic businesses to control the flow of data, enabling check-outs to integrate the total landed cost and subsequently collect paid duties, taxes and brokerage fees for the importing Customs Broker.

The tool also allows uploads of classifications, calculations of the total importing costs for the buyer, collecting all fees and forwarding them to the import broker, all this together with all the relevant master data, thus making a fully complete B2C customs declaration for a seamless cross border entry into the destination country.