Triterras Generated Over $6.6 billion in Transaction Volume on its Kratos Platform Through June 30th Despite COVID-19
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.
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