Tensec Secures $60M in Credit to Expand AI-Native Cross-Border Financial Services

10x expansion in transaction capacity positions fintech startup to meet booming demand from trading companies in the fast-growing cross-border payments sector

PALO ALTO, Calif., Oct. 21, 2025 /PRNewswire/ -- Tensec, a fintech startup focused on providing cross-border financial services, today announced a strategic $60 million credit facility with Upper90 Capital Management, LP ("Upper90"). The financing enables Tensec to expand its annual trade volume from $500MM to $5B, addressing surging demand from its import/export trading clients.

Tensec builds AI-native global financial tools for global trading companies on a zero-integration platform. Through Tensec and its banking partner, Stearns Bank, N.A., Member FDIC, these businesses can seamlessly offer foreign exchange (FX), cross-border payments, treasury, and other financial tools to their clients — unlocking new revenue streams and expanding service offerings. The company does this with a "Powered by Tensec" model, in which Tensec's AI engine handles all technical, operational and compliance requirements.

The $60 million credit financing will enable Tensec to support higher transaction volumes from new clients while increasing the wallet share with its existing clients, powering growth through flexible, real-time cross-border payments and financial tools. This funding comes as demand surges from trading companies eager to participate in the cross-border payments market. With global payment volumes projected to grow from $194.6 trillion in 2024 to $320 trillion by 2032 — a 64% increase — the opportunity for new market entrants is unprecedented.

"The credit partnership with Upper90 is a catalyst for Tensec's growth," said Helcio Nobre, Tensec's founder and CEO. "It allows us to rapidly scale our customer base and transaction volumes, bringing more global trade enablers into the cross-border financial services market. Upper90's sophisticated approach to structuring growth capital makes them an ideal partner. This credit partnership allows us to bring exponentially more companies into the market as we scale from $500M to $5 billion in transaction volume."

"We are thrilled to partner with Tensec as they embark on this next phase of exciting growth," said Billy Libby, co-founder and CEO of Upper90. "Cross-border trade is a theme we have been focused on since starting Upper90, and when we met Tensec we were immediately impressed by the tech-first approach to this opportunity utilizing AI to reduce transaction costs and improve the customer experience. The team's depth and breadth of experience, combined with their technology-first approach to the market, aligns perfectly with Upper90's focus on capital-intensive, early-stage, technology businesses. Tensec's platform is not only transforming how trading companies operate—it's opening up an entirely new market, and we're excited to support them on this journey."

Tensec raised $12 million in seed funding earlier this year, led by Costanoa, to build the foundation for its services. This new credit financing enables Tensec to accelerate transaction volume, optimize client penetration, and scale efficiently without integration barriers. Tensec aims to add more than a hundred new trading partners over the next 18 months, each gaining instant access to compliant U.S. banking and payment capabilities that would otherwise require years and millions of dollars to replicate - the kind of infrastructure no trading company could ever realistically prioritize building themselves.

About Tensec

Tensec is a Silicon Valley technology company reimagining B2B cross-border financial services by providing the fastest and simplest way for businesses to move money across global markets. Founded by veterans from PayPal, Meta, Goldman Sachs, Visa, Mastercard and Credit Karma, Tensec equips global trade companies and FX service providers with the tools to directly deliver cross-border payments and financial solutions to their clients. Backed by world-class investors, Tensec is headquartered in San Francisco, with offices in New York, Mexico City, and São Paulo.

Tensec is not a bank. Banking services in the United States are provided by Stearns Bank, Member FDIC. For more information, visit www.tensec.io.

About Upper90

Upper90 is a hybrid investment firm that is a first credit partner for early stage companies and solves complex bridge capital needs for later stage, profitable companies. Launched in 2018 by executives from Seamless-GrubHub and Goldman Sachs, Upper90 helps technology-enabled businesses with positive unit economics and collateral to accelerate growth.