The investment brought in SMBC and an unnamed global financial institution as two new shareholders, bringing the total number to twenty. The Komgo trade finance platform targets the commodities sector. It was launched in 2018 by ING, Societe Generale, ABN Amro, Shell and eleven other organisations involved in the banking and oil sectors.
Some of the investment from this funding will be allocated towards expanding in the US, with New York and Houston already online. Besides expansion, Komgo will also allocate funds towards marketing to reach companies beyond the pure commodities sector and invest in new features and refine its existing software solutions.
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