Triterras Announces Collaboration with Card Cutters
Triterras’ Invoice Bazaar to offer digital working capital access to Card Cutters’ clients
DUBAI, United Arab Emirates, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Triterras, Inc. (“Triterras” or the “Company”) a leading fintech company focused on trade and trade finance, today announced a collaboration agreement with Card Cutters Computer Equipment & Requisites Trading LLC (“Card Cutters”). Under the terms of the agreement, Triterras will directly promote its working capital lending solutions to Card Cutters’ clients in the UAE.
The initiative is part of the Company’s larger strategy to partner with e-commerce and point-of-sale (POS) platform providers, to offer an end-to-end digital lending solution to their clients. The Triterras’ ecosystem brings together funders and micro, small and medium enterprises (“MSME”) borrowers, to drive access and efficiency for all parties. The Kratos™ blockchain-enabled platform is powered by advanced credit analysis tools and revenue-based financing analytics and facilitates transactions in a completely digital environment.
Card Cutters is one of the fastest growing Merchant Services companies operating within the Emirates, offering a wide range of credit and debit card processing services and the latest chip and pin solutions. Based in Dubai and Abu Dhabi, Card Cutters UAE provides their client base with POS terminals, credit card machines and web-based payment gateways. Founded in 2009, Card Cutters serves over 10,000 merchants.
“We are delighted to announce this collaboration with Card Cutters. We believe that our alliance provides an additional value-added benefit to Card Cutters’ offerings, where critically needed working capital will be made available to their clients, and funders on our Kratos™ platform will have access to attractive lending opportunities that they otherwise would not have available to them. It is a “win-win” for all parties” said Triterras’ Chairman and Chief Executive Officer Srinivas Koneru.
Triterras’ e-commerce lending program is designed for a multitude of e-commerce platform applications, including e-commerce aggregators, e-commerce marketplaces and POS service providers. The Company has demonstrated the ability to provide capital to micro and small business customers in collaboration with various platform providers. The program is being offered in the UAE through Triterras’ Invoice Bazaar subsidiary.
Triterras is a global fintech company co-headquartered in Singapore and Dubai and leading innovator of inclusive finance solutions for the world's micro, small and medium enterprises (MSMEs). The Company launched and operates Kratos™ a fintech platform which directly connects MSMEs with lenders online to source capital across commodity trading, supply chain, logistics, and ecommerce finance. For more information, please visit triterras.com or email us at email@example.com.
About Card Cutters
Card Cutters is a leading Card Acceptance and Payment Solutions Specialist in Dubai offering the latest payments technology and merchant services available to a wide range of businesses. Founded in 2009, Card Cutters serves over 10,000 merchants in the UAE. Representing ADIB Services in all Emirates, Card Cutters is a leading provider of debit and credit card services to the market. For more information visit our website at www.card-cutters.ae or contact us at firstname.lastname@example.org.
Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The Company’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations with respect to future performance and anticipated financial impacts. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside the Company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to risks and uncertainties incorporated by reference under “Risk Factors” in the Company’s Form 20-F (SEC File No. 001-39693) filed with the SEC on June 28, 2022 and in the Company’s other filings with the SEC. The Company cautions that the foregoing factors are not exclusive. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
Corporate Communications, Triterras
M: +971 56 903 5311
Released January 30, 2024