Stockholm-based digital trade financing platform raised $11m in new funding from undisclosed investors.
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Mitigram raises $11m in new funding
“The lack of connectivity is trade finance’s biggest cost,” said Mitigram’s Interim CEO Malin Bäcklund. “Around 4 billion paper documents are manually generated, checked, and transported in trade each year, which creates the perfect storm for high operating costs and a spiraling lack of control. At Mitigram, we are passionate about closing the gap that is estimated to cost the industry $4 trillion in total each year."
