Emirates NBD, one of the leading financial institutions in the Middle East, has made a strategic equity investment in Komgo, a software development and technology services company focused on transforming the trade finance industry. The investment was made through Emirates NBD’s Innovation Fund, the bank’s corporate venture fund.
The Innovation Fund was established to enable the bank to invest in tech start-ups and companies that support its digital strategy. With a mandate to invest in a wide range of stages, from early to growth, the fund aims to deliver strategic benefits and long-term returns for the group.
Komgo, which originated in Switzerland, has expanded its reach to key international locations including Singapore, Paris, London, Toronto, and Houston. Trusted by over 200 multinational corporations and global trade banks, the company’s platform handles approximately $1 billion in transaction value daily.
Emirates NBD’s Group Head of Wholesale Banking, Ahmed Al Qassim, emphasized the bank’s commitment to innovation and developing tech solutions that can accelerate business processes. He acknowledged the impact of the rapidly changing fintech landscape on the industry and highlighted the bank’s dedication to supporting the next generation of technologies that will shape the future of finance.
Neeraj Makin, Group Head of Strategy, Analytics & Venture Capital at Emirates NBD, stated the importance of technology in unlocking new possibilities. He emphasized the Innovation Fund’s commitment to supporting the bank’s growth and vision of becoming the most innovative bank for its customers, employees, and communities.
Meanwhile, Souleïma Baddi, CEO of Komgo, expressed excitement about the strategic equity investment from Emirates NBD. She highlighted how the investment would enable Komgo to further enhance its technology offerings and drive innovation in the trade finance industry.
This investment by Emirates NBD demonstrates the bank’s focus on leveraging technology to stay ahead in the rapidly evolving financial landscape. With its commitment to innovation and strategic investments, Emirates NBD continues to solidify its position as a leading financial institution in the region.
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