Strategic Investment in Komgo by Santander
22 June 2023 – Komgo SA, the trade finance blockchain joint venture, successfully closed a strategic equity investment by Santander.
Santander Corporate & Investment Banking has made a strategic equity investment into commodity trade finance platform Komgo, to accelerate the digital transformation of its trade and working capital products.
Santander becomes a Komgo shareholder alongside corporate and financial players including ABN Amro, BNP Paribas, Citi, Consensys, Crédit Agricole, Gunvor, ING, Koch Supply & Trading, Macquarie, Mercuria, MUFG, Natixis, Rabobank, SGS, Shell, SMBC, Société Générale and Total.
Komgo is now the world’s largest multi-bank trade finance network. This development supports Komgo’s plans to expand its trade finance proposition, following its acquisition of Canada-based Global Trade Corporation (GTC) last year. Jointly, the two companies provide trade finance digitalization solutions to over 120 multinational clients and over 11,000 subsidiaries, connecting them to their financial institutions and trade service providers.