Mitigram secures $5.8M in series-A funding round with Swedish investors MOOR, Fort Knox and angel Johan Andersson.
Mitigram, a Stockholm, Sweden-based company aiming to digitize bank relationship management and transform the way corporates and financial institutions do banking, announced securing SEK 50M ($5.8M) in series A investment round.
The money was provided by existing investor MOOR Capital as well as by Swedish investor Fort Knox and angel Johan Andersson. 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.
Mitigram, founded in 2015 by Marjon Wohlén and Hicham El-Khaoudy and led by CEO Milena Torciano, developed a 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 companies as users, including Ericsson, Nokia, Wärtsilä, Trafigura as well as over 35 global banks, including Societe Generale, Raiffeisen Bank International, Bank ABC, DBS and Standard Chartered.
Prior to this deal, Mitigram raised a little more than one million dollars from MOOR Capital.