Triterras Inc - TRIRF stock
Introduction[edit]
Triterras Inc. (OTCMKTS: TRIRF) is a multinational fintech company headquartered in Singapore and Dubai that focuses on offering financial solutions to the world's micro, small, and medium-sized businesses (MSMEs). The company began its operations in 2018 with a current presence in 6 countries having 50+ team members. Triterras main line of business is Trade Finance which involves providing financing for the movement of goods across borders. Triterra's mission is to create a sustainable and comprehensive marketplace for the world’s MSME supply chain participants and those who finance them. [1]
Kratos is the flagship platform of Triterras that directly connect MSMEs with lenders online and source money across commodity trading, supply chain, logistics, and e-commerce finance. It took two years to create Kratos, with the initial launch in June 2019. The blockchain-based financial platform benefits consumers by enhancing compliance, boosting speed and efficiency, and providing security throughout the trade process.
Business Operations[edit]
One of the major participants in the trade finance industry, Triterras Inc., makes it simple for SMEs to get loans and transact efficiently. There is a $1.7 trillion shortfall in trade finance for SMEs, according to data from the World Trade Organization (2021). According to the WTO, banks also reject 40% of funding requests from SMEs. This opens up an incredible market opportunity for Triterra. The Triterras team's years of managerial experience in the trade finance sector and their technological know-how set them apart from their rivals. [2]
The business firmly believes in the application of technology, and with its understanding of the trade finance industry, it established its flagship Blockchain-based platform Kratos to cater to the dynamic needs of its customers. Since the launch of Kratos, Triterras has facilitated more than 3,500 transactions and over $6.6 Billion in transaction volume (as of June 2020). Since its inception, the company has been profitable.
The company operates in six countries, such as the USA, Singapore, Dubai, Australia, Switzerland, and the United Kingdom. The leadership team of Triterras has more than 100 years of collective trade finance experience. They are the clients' preferred partners due to their broad connections with clients, traders, and lenders.
Management Team[edit]
The leadership and management team of Triterras Inc is highly experienced with expertise in their respective domains. The leadership team consists of Srinivas Koneru (Founder, Executive Chairman & CEO), Alvin Tan (CFO), Sri Vasireddy (CTO), and Ashish Srivastava (Chief Commercial Officer). [3]
Srinivas Koneru (CEO) has over 35 years of experience in the field of technology and manufacturing. Before founding Triterras, he held various management-level experiences in companies such as Rhodium, Exxova, and Lanco Global Systems Inc. When Koneru was a part of Exxova, he was key in the revenue growth of the IT Company from zero to US $80 million.
Alvin Tan (CFO) has over 20 years of experience as Group CFO and Finance Controller in numerous top commodity trading organizations. He is a registered CPA and holds a degree in Accounting and Finance. In addition to a Master's in computer science from George Mason University and an MBA from Duke University, Sri Vasireddy (CTO) has more than 20 years of experience in the information technology sector.
Company News[edit]
On July 13 2022, Triterras Inc announced their collaboration with Conektr, a digital lower trade, groceries, and HoReCa marketplace platform. Through this collaboration, Triterras will provide access to working capital to micro and small retailers across the United Arab Emirates (UAE) that are utilizing the Conektr app to manage their inventory. In the first phase, the company is targeting around 7,000 retailers. [4]
“Neighborhood retailers globally have historically been unbanked for access to credit. Our collaboration with Conektr will help break this cycle through an easy-to-onboard, paperless process that is available to thousands of micro and small retailers on the Conektr platform that are in need of financing to help operate and grow their businesses,” said Anand Nagaraj, Triterras’ Executive Vice President of Business Development.
OTC Market: TRIRF
- ↑ Bloomberg.com. Triterras Inc/Company Profile. Retrieved on 1/14/2023
- ↑ Triterras.com. About us. Retrieved on 1/14/2023
- ↑ Triterras.com. Management Team. Retrieved on 1/14/2023
- ↑ GlobalNewwire.com. Conektr and Triterras Partner to Deliver Procurement Working Capital to Small Retailers in the United Arab Emirates. July 13, 2022.
