Triterras Announces New Kratos Module: Trade Finance
Triterras Announces New Kratos Module
Trade Finance Module Goes Live
Singapore — February 3, 2020 — Triterras, a fintech company focused on trade and trade finance, announced today that its Trade Finance Module is available to users of its Kratos blockchain-enabled platform. The Trade Finance module will allow small and medium sized enterprises (“SME’s”) to request trade financing from a community of alternative lenders.
As goods move across oceans, transaction times between sellers and buyers can range from 150 to 180 days. As a result, sellers seek to finance their trades from third parties in order to alleviate pressures on working capital. However, trade financing can be very difficult for SMEs to source. The World Trade Organization estimates that there is a $1.5 trillion shortfall in trade financing availability for SMEs. The Kratos Trade Finance Module will bring new financing resources into this space and serve as a digital marketplace for borrowers to transact with a whole new community of alternative lenders.
“We are very excited about the potential impact that the Kratos Trade Finance Module will have on facilitating international trades and enabling further growth in worldwide commerce,” said Srinivas Koneru, Chairman of Triterras. “We believe that Kratos is bringing a compelling solution to a severely underserved market. What is particularly impactful is that Kratos will provide this new dimension of funding availability at fee rates that are half of comparable offline offerings.”
Triterras Pte. Ltd.
Released February 3, 2020