Rabo Frontier Ventures has announced to have acquired a stake in komgo SA. Komgo SA was launched last week by fifteen of the world`s largest institutions, including pioneer banks.
Harrie Vollaard, head of Rabo Frontier Ventures, states that komgo SA heralds a new era in blockchain, by means of constituting a venture where leaders take the advantages of the technology and deploy it on their core processes. Michiel Teunissen, head of innovtion trade& commodity finance at Rabobank remarks, “In the trade and commodities business there is still a substantial amount of physical paper and manual labour involved the daily processes, which can cause long settlement times and bring along certain operational risks. With komgo we are going to be able to take out a substantial part of the manual handlings and make our processes faster and easier for our customers.”
This is the ninth investment of Rabo Frontier Ventures since its establishment in March 2017 by Rabobank. Rabo Frontier Ventures is a strategic investment fund of 60 million, aiming to support internal and external Fintech and Food & Agri ventures to scale their business.