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Kongo procures GTC to create the world’s leading digital platform for trade finance

By ET Bureau - December 05, 2022 2 Mins Read

GlobalTrade Corporation (GTC) has announced today that it has been acquired by Swiss headquartered Komgo. Jointly Komgo and GTC provide trade finance digitalisation solutions to over 120 multinational clients and their 11,000+ subsidiaries, connecting them to their financial institutions and trade service providers on a global basis.

“Together Komgo and GTC will provide the widest coverage, and biggest volumes, for our corporate and bank users. We are combining Komgo’s commodity expertise with GTC’s industry expertise, consolidating the market for digital trade services. Trade finance is moving to a digital framework, and we’re proud to be at the forefront of this transition,” said Souleïma Baddi, CEO of Komgo.

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“The industry has been waiting for this consolidation,” said GTC’s Chairman of the Board, Jacob Katsman. “Together with Komgo, we can now connect corporates to all their financial institutions for trade finance irrespective of what back-office system they use. Solutions offered by both companies are complementary and cover the complete range of payment instruments used in international trade, starting from detection of fraudulent invoices to automation and management of letters of credit, bank guarantees, documentary collections; integrated with a trade finance marketplace.”

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ET Bureau

The Enterprise talk Bureau has five well-trained writers and journalists, well versed in B2B enterprise technology industry, and constantly in touch with industry leaders for the latest trends, opinions, and other inputs- to bring you the best and latest in the domain.

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