Triterras Announces Collaboration with Card Cutters

Triterras’ Invoice Bazaar to offer digital working capital access to Card Cutters’ clients

DUBAI, United Arab Emirates, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Triterras, Inc. (“Triterras” or the “Company”) a leading fintech company focused on trade and trade finance, today announced a collaboration agreement with Card Cutters Computer Equipment & Requisites Trading LLC (“Card Cutters”). Under the terms of the agreement, Triterras will directly promote its working capital lending solutions to Card Cutters’ clients in the UAE.

The initiative is part of the Company’s larger strategy to partner with e-commerce and point-of-sale (POS) platform providers, to offer an end-to-end digital lending solution to their clients. The Triterras’ ecosystem brings together funders and micro, small and medium enterprises (“MSME”) borrowers, to drive access and efficiency for all parties. The Kratos blockchain-enabled platform is powered by advanced credit analysis tools and revenue-based financing analytics and facilitates transactions in a completely digital environment.

Card Cutters is one of the fastest growing Merchant Services companies operating within the Emirates, offering a wide range of credit and debit card processing services and the latest chip and pin solutions.   Based in Dubai and Abu Dhabi, Card Cutters UAE provides their client base with POS terminals, credit card machines and web-based payment gateways. Founded in 2009, Card Cutters serves over 10,000 merchants.

“We are delighted to announce this collaboration with Card Cutters. We believe that our alliance provides an additional value-added benefit to Card Cutters’ offerings, where critically needed working capital will be made available to their clients, and funders on our Kratos platform will have access to attractive lending opportunities that they otherwise would not have available to them. It is a “win-win” for all parties” said Triterras’ Chairman and Chief Executive Officer Srinivas Koneru.

Triterras’ e-commerce lending program is designed for a multitude of e-commerce platform applications, including e-commerce aggregators, e-commerce marketplaces and POS service providers. The Company has demonstrated the ability to provide capital to micro and small business customers in collaboration with various platform providers. The program is being offered in the UAE through Triterras’ Invoice Bazaar subsidiary.