With the prospect of being integrated into the world’s largest blockchain-enabled trade platforms, Kratos, the startup hopes to expand its user base.
Invoice Bazaar, a fintech operating in the UAE, will be acquired by Singapore-based company Triterras Inc. on April 30th, 2021. Invoice Bazaar has been digitising financial transactions that normally occur manually and in-person between buyer and vendor since it was founded in 2016, and will continue to do so under the Triterras Inc. brand.
“We are excited to partner with such an exceptional team and accelerate several of our growth goals. This transaction establishes a strategic presence for us in the Middle East with a UAE-approved regulatory structure already in place, allowing us to operate immediately upon closing," said Triterras Inc. CEO and Chairman Srinivas Koneru. "Over time, we anticipate integrating Invoice Bazaar’s leading supply chain finance capabilities into our Kratos ecosystem."
Kratos is one of the world's largest blockchain-enabled, commodity trading and trade platforms. With its established reach, Invoice Bazaar hopes to offer its services to a larger base of users.
Learn more about Invoice Bazaar here.