Mitigram

About Mitigram

Mitigram serves as a digital marketplace for global trade finance, connecting corporate clients with financial institutions. Founded in 2014 by a team including Marjon Wohlén, the Stockholm-based company was established to address inefficiencies in what was perceived as a closed and fragmented market. Wohlén, with 30 years of experience in treasury and fintech, including leadership roles at Trema and IT2, co-founded Mitigram to apply her expertise in converting complex financial processes into streamlined digital solutions. The platform was officially launched in 2015 after a pilot phase with major Scandinavian corporations and banks.

The company's business model is centered on its Software-as-a-Service (SaaS) platform, which generates revenue through subscriptions. Mitigram caters to multinational corporations, commodity traders, and financial institutions, providing them with tools to manage trade finance transactions. The platform facilitates the assessment of real-time pricing, risk, and capacity from partner banks, aiming to improve access to financing and execution. Clients include prominent names like Ericsson, Siemens Healthineers, Vale, and Louis Dreyfus Company, with a network of over 150 banks.

Mitigram's product suite is designed to digitize and centralize trade finance operations. Key offerings include MitiSquare, for assessing risk and pricing; MitiManager, for viewing and structuring transaction data; and MitiGateway, for digitizing origination records. The platform leverages AI-powered Optical Character Recognition (OCR) and machine learning to interpret and structure data from various documents, regardless of format. This enables users to automate workflows and manage their entire portfolio of trade finance instruments, from planning to expiration, in one place. Connectivity is a core feature, with the platform supporting communication through multiple channels like SWIFT, APIs, and email, allowing clients to interact with banks even if they are not on the Mitigram network.

Since its inception, Mitigram has achieved several financial and operational milestones. The company has raised a total of $38 million over several funding rounds, including an $11 million Series C round in June 2023. Major investors include Nordic institutional backers like Moor Holding, Fort Knox, and Mandatum Life Insurance. The platform has facilitated over $100 billion in trade finance flows across more than 100 countries and covers risks for over 1,000 issuing banks. In 2020, Mitigram expanded its operations by opening a regional headquarters in Singapore to target the Asian market. The leadership has also seen changes, with Pedram Tadayon appointed as CEO in May 2024 to guide the company's next growth phase.