Walder Wyss with Komgo on its third funding round of CHF 26 million
Komgo – the trade finance blockchain joint venture – has successfully closed its third funding round by raising CHF 26 million.
The round received a high level of interest from both new and returning investors. The investment brought in, among others, SMBC, bringing the total number of investors to twenty including ABN Amro, BNP Paribas, Citi, Consensys, Crédit Agricole, Gunvor, ING, Koch, Macquarie, Mercuria, MUFG, Natixis, Rabobank, SGS, Shell, SMBC, Société Générale and Total.
The legal team
Walder Wyss acted as legal counsel to Komgo in the financing round. The firm acted with a team led by Patrick W. Vogel (partner, corporate/m&a – pictured) and included Alexander Sorton (associate, corporate/m&a), Valentine Schnyder (associate, banking & finance) and Camille Tistounet (trainee lawyer).
Komgo third funding round
A significant portion of funds raised – according to Komgo press release – will be allocated to accelerating these expansion efforts. Komgo’s highest priority remains its software solutions, and further investment will be allocated to product refinement and coverage of new workflows and trade finance applications, such as borrowing base facilities, contract renewal, stock reconciliation and rollout of the next-generation in smart, secure digital documents.
