Mitigram closes SEK 50M (USD 5.8m) funding round with Top Swedish Investors
Mitigram, the Stockholm-based Fintech specialized in Trade Finance, is closing a SEK 50m (USD 5.8m) Series-A funding round with Swedish investors Johan Andersson (CEO of family-owned investment company Mellby Gård) and Fort Knox. Mitigram already has backing from serial entrepreneur and investor Kaj Hed (founder and significant owner of Rovio Entertainment, Angry Birds) via the venture capital fund, Moor Capital. Moor is also participating in this Series-A round.
Launched in 2015 and with over USD11bn trades facilitated to-date, Mitigram is the fastest growing platform for the global industry of trade finance, with users such as Exporters, Traders and Banks funding, hedging and distributing risks of international trade transactions. Mitigram has a number of Multi-National Corporations, global and regional banks as users, and was awarded Best Fintech Disruptor in Trade 2016 by Global Trade Review.
The funding will be used to scale operations in Europe and Asia; advance the platform’s core technology; drive the development of its digital capabilities, analytics and visualizations; and further integrate networking features to deliver on our mission of connecting counterparties in global trade.
Speaking of the funding round, Milena Torciano (Mitigram CEO) commented “This is excellent news and an indication of the level of confidence our investors have in Mitigram. Our business is growing in volumes and across geographies, our team is expanding and the backing of strong, knowledgeable and long-term investors like Moor, Melby-Gard and Fort Knox will support us in meeting our goals.”
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