Summary overview of Sumara

Sumara enables companies in developing markets to easily conduct international trade by providing instant, low-cost payments and seamless access to financing, bridging the gap that banks can't fill.

Founded in 2024 by Ian Dillon, Sumara is built on my expertise in international finance and innovative technologies. Drawing from my experience co-founding NOW Money and my advocacy for Bitcoin and Web3 since 2016, I've focused on a major global problem in need of a fresh solution.

I have conducted extensive user research, which shows that companies in developing markets engaging in international trade have prohibitive issues with international payments, trust, and access to credit.

The $2.5 trillion trade gap for SMEs, as identified by the Asian Development Bank, represents the unmet demand for trade financing that prevents small and medium-sized enterprises from fully participating in global trade. This trade gap is primarily caused by banks' outdated systems and processes, de-risking efforts, and lack of trust between stakeholders.

Recent legal, technological, and market developments make it possible to deliver a solution that is 10x better than existing alternatives:

• Legal advancements give digital trade documents the same standing as physical ones.

• Blockchain enables instant, borderless transactions, and Web3 DeFi markets give deep access to credit.

• AI provides accurate automated AML and KYC solutions.

• Post-COVID, market needs are growing rapidly.

Sumara addresses each of the three primary issues in international trade:

• Credit: Immediate access to credit (subject to assessment).

• International Payments: Instant and low-cost payments.

• Trust: Instant, permissionless generation of trade instruments (eg. Letters of Credit).

Sumara’s solution is built on a core technical infrastructure, a smart contract protocol on an open, public EVM-compatible blockchain.

Initially, Sumara will be an end-to-end solution and sole client of the protocol, but the protocol will later be opened to allow other participants to access the protocol to process transactions.

Our product and design-led approach ensures a user-friendly interface- masking the Web3 backend for customers- and provides a 10x better value proposition than alternatives used today.

Sumara has an ambitious vision, but is adopting a focused phased approach to reach it:

• Sumara will initially target SME commodities importers in developing markets, addressing a creditworthy segment with unmet demand.

• We will master one industry vertical by expanding to service exporters. This strategy provides Sumara with extensive knowledge and data in one supply chain, allowing us to optimise for relevant countries enhancing our product fit and credit models.

• Based on market feedback, we will refine our approach and expand to additional industry verticals. Each phase will build on the success and insights gained from the previous ones.

• In initial phases, Sumara is an end-to-end proposition for SME customers. As the platform grows and gathers network effects, we will open access to our Web3 protocol to other distributors, developing broader market penetration.

With the strength of our team and our focus on customer needs, Sumara is poised to solve a significant market problem and achieve exceptional success.