SINGAPORE, July 6, 2020 /PRNewswire/ -- Triterras today
announced that its Kratos™ marketplace has surpassed $6.6 billion of trade and trade finance
transaction volume since going live in June
2019.
Kratos is one of the world's largest commodity trading and trade
finance platforms that connects and enables commodity traders to
trade and source capital from lenders directly online.
As of its fiscal year ended February 29,
2020, Triterras reported over $3.7
billion in transaction volume for trade and trade finance on
the Kratos platform with an average monthly transaction volume over
$420 million.
In the first four months of fiscal year 2020, Kratos has
captured an additional $2.9 billion
of transaction volume with an average monthly transaction volume of
$720 million -- a more than 70%
increase over fiscal year 2019 levels.
Triterras Founder and Chairman Mr. Srinivas Koneru said: "Our Kratos platform's
growth has been exceptional. It shows that more and more traders
and lenders are recognizing the value-added benefits of our
technology platform."
Triterras expects the growth of Kratos to continue well into the
future. In fact, as a result of the COVID-19 pandemic, the platform
has experienced an increase in trading and trade finance activity
as more activity shifts online.
Koneru added: "In order to survive the current crisis and even a
post-pandemic world, participants in the trade and trade finance
industry will have to embrace digitization. Triterras helps
traders, borrowers, and lenders transact cheaper, more secure, and
faster through the Kratos platform."
Last week, it was announced that Triterras received a
non-binding letter of intent to merge with Netfin Acquisition Corp.
(NASDAQ: NFIN, NFINW). The transaction, which is expected to be
announced definitively later this month, would provide Triterras
the strategic capital to further accelerate its growth.
About Triterras
Founded in 2012, Triterras is a leading fintech company focused
on trade and trade finance. Triterras developed and operates Kratos
- one of the world's largest commodity trading and trade finance
platforms that connects and enables commodity traders to trade and
source capital from lenders directly online. For more
information, please visit triterras.com.
Triterras Contact:
Jim Groh
(678) 237-7101
Email: ir@triterras.com