Company Overview
Komgo’s digital network is revolutionizing trade by bringing added value to all parties involved by eliminating the need for paper documentation. Our solutions, Konsole and Trakk, are trusted by hundreds of companies globally to streamline trade finance and prevent fraud. Our innovative solutions improve internal processes in importing, exporting, banking, and related industries. Our Swiss-made technology caters to a global clientele with offices in major cities worldwide.
The TradeLens platform, owned by 23 industry stakeholders, is a SOC2 and SWIFT-compliant SaaS network with over 1200 firms to exchange secure trade finance instructions. Currently, 220+ corporates and banks utilize the network, with over 6,000 instructions exchanged each month. This makes TradeLens the most widely used digital trade finance network presently in production.
Key Executives
Trade technologists on our team are flexible and experienced. They can create industry value and innovation.
Soulema Baddi—CEO
VAKT’s board member and SocGen’s commodity blockchain project manager. From 2010 until she founded Komgo and became CEO, Soulema Baddi was Deputy Head of Societe Generale Trade and Commodity Finance in Switzerland. Ms Baddi joined Societe Generale Inspection in 2000.
Baptiste Audren, Chief Revenue Officer
Baptiste Audren handles Komgo funding. Before joining Komgo, Audren worked in relationships at Société Générale, Geneva. He previously worked for BNP Paribas relationships in Switzerland.
Guy de Pourtales, CTO
Komgo CTO Guy de Pourtalès. Guy de Pourtalès was Skitude’s COO, Skioo’s Senior Software Architect, and Sapphire Innovation’s CTO.
Products & Services
In the trade finance industry, there is a need for streamlined solutions for various processes, such as letters of credit, loan agreements, and guarantees. It is essential to also have a strong understanding of your clients to assess risk properly and offer the appropriate financial services. Overall, efficiently managing these tasks can significantly benefit banks.
In our effort to streamline processes and improve efficiency, Trakk can assist with the management of onboarding, KYC renewals, legal document exchanges, and digital forms/questionnaires. Additionally, we can track our clients’ contracts, invoices, certificates, guarantees, and warranties. Konsole Trade Finance also offers corporate assistance in these areas.
This blog post will discuss various financial instruments, such as letters of credit, guarantees, and borrowings. These tools can be used for many things, like discounting receivables or getting risk coverage. It is crucial to conduct proper due diligence and renew Know Your Customer processes to ensure the legitimacy of these transactions.
Our expert services specialize in creating effective software solutions by combining the elements of people, technology, and business goals. In Trakk, we can track our essential documents, including contracts, invoices, certificates, guarantees, and warranties. We also help activate digital trade and make action plans for solving business problems using agile and design thinking methods.
Integration Services:
Integrating Komgo products can help your teams reduce change management, enable true automation, and see a return on investment in their existing information systems. By utilizing best practices, we can assist with this integration process.
Distributed Agile Teams:
A strong team is essential for the success of any digital project. Our knowledge of trade finance lets us put together a diverse and well-equipped group to help and improve the skills of your staff.
Company Reviews
In 2019, Komgo, a blockchain-based trade finance platform, completed its second round of funding with three new investors and opened shops in Asia. The software has facilitated the opening 20,000 letters of credit and standby letters of credit for over 100 clients. Komgo plans to continue expanding its network in 2020.
Our team works hard in the commodity finance industry to give the best service and financing options possible. The award-winning Sucafina serves clients globally, including in the Americas, EMEA, and Asia. We proudly announce that we have won TXF’s 2022 Overall Commodity Finance Deal of the Year Award.
Related News
After collaborating with Komgo and ING Bank, our team at Sucafina was able to successfully execute a digital commodity trade finance transaction. Our partners at Komgo provided the digital platform, while ING managed the financial facility. This effort serves to improve efficiency for our clients in the commodity industry.
After raising $29 million in its third financing round in May 2021, Komgo S.A. has seen rapid growth as a company focused on financing international trade and working capital needs through its Trade Finance and Commodity Finance product lines. Komgo was started with Crédit Agricole CIB as a partner, and the bank’s MTP 2022 plan includes the company.
The Komgo platform, founded by Crédit Agricole CIB and CA Indosuez (Switzerland) SA, along with other leading banks and companies, received additional funding, giving the group almost 7% ownership. This platform will be used in trade commodity finance and trade finance. It will focus on digital innovations like refining modules, digitizing collateralized revolving credit facilities, and implementing secure digital documents.
In its third funding round since its 2018 founding by a group of banks and corporates, Komgo, a blockchain platform for commodity trade finance, has secured an additional $28.9 million from existing shareholders and Sumitomo Mitsui Banking Corporation. A new investor was also brought on board.
In 2019, Komgo’s blockchain platform saw a 50% increase in trade finance transactions and a 65% increase in production. The company plans to use its funding to accelerate expansion, bolster customer success teams, and target marketing to reach new industries. Overall, the platform is seeing strong growth and progress.
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