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E-invoicing, SCF & E-procurement

Mitigram raises USD 10.7 mln to facilitate trade finance risks

Tuesday 2 July 2019 | 02:49 PM CET

Norway-based trade finance company Mitigram has secured USD 10,7 million in funding with lead investor Sampo, through its wholly owned subsidiary Mandatum Life.

This funding comes twelve months after its Series A funding round. Sampo is a listed, long-term owner of financial services assets, covering both traditional banks and insurance companies. In its portfolio, the group owns 21% of Nordea, as well as technology platforms through its investments in Nordax and Saxo Bank.

The previous funding round was backed by Kaj Hed, founder and significant owner of Rovio Entertainment, via the venture capital fund Moor&Moor. Swedish investors, Johan Andersson, CEO of Mellby Gård; and Fort Knox, a family office, also invested. All three investors are participating in the new round.

Mitigram claims it has so far facilitated USD 27 billion of trade finance risks from over 100 countries, covering more than 1,000 local issuing banks in both developed and emerging markets.

More: Link
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