Triterras Fintech, a leading fintech company for commodity trading
and trade finance, today announced its agreement with Marsh
(Singapore) to offer credit insurance through a digitally
streamlined process on its Kratos platform.
With over 35,000 colleagues operating in more
than 130 countries, Marsh is a global leader in insurance broking
and risk management, serving commercial and individual clients with
data driven risk solutions and advisory services.
The Kratos insurance module comes as a timely
solution as businesses look for digital tools to deal with the
paradigm shift brought about by COVID-19. Through the module,
Kratos’ commodity traders can now have access to leading insurers,
initiate inquiries, get quotes, and sign up for insurance coverage
directly on the platform.
“Our agreement with Marsh to provide our traders with digitized
access to credit insurance is an exciting development for Kratos,”
said Mr. Srinivas Koneru, Triterras Fintech Chairman and CEO. “We
believe this module will further enhance the user experience on our
platform.”
“The insurance industry will be transformed by digital
technologies. Marsh expects the industry to embrace digital
transformation to improve operations efficiency, enhance customer
relationships and outpace competition,” Ms. Iris Teo, CEO of Marsh
Singapore commented.
About Triterras
FintechTriterras Fintech is a leading fintech
company focused on trade and trade finance. It launched and
operates Kratos—one of the world’s largest commodity trading and
trade finance platforms that connects and enables commodity traders
to trade and source capital from lenders directly online.
Triterras Fintech executed an agreement to become a public
company listed in the United States through a business combination
with Netfin Acquisition Corp. (Nasdaq: NFIN, NFINW). The
transaction, which is expected to close in Q4 2020, would provide
Triterras Fintech the strategic capital to further accelerate its
growth. For more information, please visit triterras.com or
email us at contact@triterras.com.
About MarshMarsh is the world’s
leading insurance broker and risk adviser. With over 35,000
colleagues operating in more than 130 countries, Marsh serves
commercial and individual clients with data driven risk solutions
and advisory services. Marsh is a business of Marsh & McLennan
Companies (NYSE: MMC), the leading global professional services
firm in the areas of risk, strategy and people. With annual revenue
approaching US$17 billion and 76,000 colleagues worldwide, MMC
helps clients navigate an increasingly dynamic and complex
environment through four market-leading businesses: Marsh, Guy
Carpenter, Mercer, and Oliver Wyman. Follow Marsh on Twitter
@MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to
BRINK.
About Netfin Acquisition
Corp.Netfin Acquisition Corp. is a blank check company
incorporated for the purpose of effecting a merger, share exchange,
asset acquisition, share purchase, reorganization or similar
business combination with one or more businesses, focused on the
financial technology, technology and financial services industries,
including businesses engaged in commercial, online and mobile
banking and payments, trade finance and telecommunications, that
offer a differentiated technology platform and product suite for
interfacing with the financial services sector. For more
information, visit netfinspac.com.
Forward-Looking
StatementsThis press release includes “forward-looking
statements” within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995. Netfin’s and
Triterras Fintech’s actual results may differ from their
expectations, estimates and projections and consequently, you
should not rely on these forward-looking statements as predictions
of future events. Words such as “expect,” “estimate,” “project,”
“budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,”
“will,” “could,” “should,” “believes,” “predicts,” “potential,”
“continue,” and similar expressions are intended to identify such
forward-looking statements. These forward-looking statements
include, without limitation, Netfin’s and Triterras Fintech’s
expectations with respect to future performance and anticipated
financial impacts of the business combination, the satisfaction of
the closing conditions to the business combination and the timing
of the completion of the business combination. These
forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from the expected results. Most of these factors are
outside Netfin’s control and are difficult to predict. Factors that
may cause such differences include, but are not limited to: (1) the
outcome of any legal proceedings that may be instituted against
Netfin or Triterras Fintech following the announcement of the
business combination; (2) the inability to complete the business
combination, including due to failure to obtain approval of
Netfin’s shareholders or other conditions to closing in the
definitive agreement relating to the business combination (the
“Business Combination Agreement”); (3) the occurrence of any event,
change or other circumstance that could give rise to the
termination of the Business Combination Agreement or could
otherwise cause the transactions contemplated therein to fail to
close; (4) the inability to meet Nasdaq’s listing requirements
following the business combination; (5) the impact of COVID-19 on
Netfin or Triterras Fintech; (6) the risk that the business
combination disrupts current plans and operations as a result of
the announcement and consummation of the business combination; (7)
the ability to recognize the anticipated benefits of the business
combination, which may be affected by, among other things,
competition and the ability of the combined company to grow and
manage growth profitably and retain its key employees; (8) costs
related to the business combination; (9) changes in applicable laws
or regulations; (10) the possibility that Netfin, Triterras Fintech
or the combined company may be adversely affected by other
economic, business, and/or competitive factors; and (11) other
risks and uncertainties indicated from time to time in the proxy
statement/prospectus relating to the business combination,
including those under “Risk Factors” in the Registration Statement
(as defined below), and in Netfin’s other filings with the SEC.
Netfin cautions that the foregoing list of factors is not
exclusive. Netfin cautions readers not to place undue reliance upon
any forward-looking statements, which speak only as of the date
made. Netfin does not undertake or accept any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its
expectations or any change in events, conditions or circumstances
on which any such statement is based.
Important Information about the Business
Combination and Where to Find ItIn connection with the
proposed business combination, Netfin Holdco, a Cayman Islands
exempted company (“Holdco”), has filed with the SEC a registration
statement on Form F-4 (the “Registration Statement”) which includes
a proxy statement/prospectus and certain other related documents,
which will be both the proxy statement to be distributed to
Netfin’s shareholders in connection with Netfin’s solicitation of
proxies for the vote by Netfin’s shareholders with respect to the
business combination and other matters as may be described in the
Registration Statement, as well as the prospectus relating to the
offer and sale of the securities of Triterras Fintech to be issued
in the business combination. Netfin’s shareholders and
other interested persons are advised to read the preliminary proxy
statement/prospectus included in the Registration Statement and the
amendments thereto and the definitive proxy statement/prospectus,
as these materials contain important information about the parties
to the Business Combination Agreement, Netfin and the business
combination. After the Registration Statement is
declared effective, the definitive proxy statement/prospectus will
be mailed to Netfin’s shareholders as of a record date to be
established for voting on the business combination and other
matters as described in the Registration Statement. Shareholders
will also be able to obtain copies of the proxy
statement/prospectus and other documents filed with the SEC that
will be incorporated by reference in the proxy
statement/prospectus, without charge, once available, at the SEC’s
web site at www.sec.gov, or by directing a request to: Netfin
Acquisition Corp., 445 Park Avenue, 9th Floor, New York, NY 10022,
Attention: Gerry Pascale, Chief Financial Officer, (972)
979-5995.
No Offer or SolicitationThis press release
shall not constitute a solicitation of a proxy, consent or
authorization with respect to any securities or in respect of the
business combination. This press release shall also not constitute
an offer to sell or the solicitation of an offer to buy any
securities, nor shall there be any sale of securities in any states
or jurisdictions in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offering of securities
shall be made except by means of a prospectus meeting the
requirements of section 10 of the Securities Act.
Participants in the Solicitation Netfin
and its directors and executive officers may be deemed participants
in the solicitation of proxies from Netfin’s shareholders with
respect to the business combination. A list of the names of those
directors and executive officers and a description of their
interests in Netfin is contained in Netfin’s Registration Statement
on Form S-1, which was filed with the SEC on July 19, 2019, and is
available free of charge at the SEC’s web site at www.sec.gov, or
by directing a request to Netfin Acquisition Corp., 445 Park
Avenue, 9th Floor, New York, NY 10022, Attention: Gerry Pascale,
Chief Financial Officer, (972) 979-5995. Additional information
regarding the interests of such participants will be contained in
the Registration Statement when available.
Triterras Fintech Contact:Jim
Groh(678) 237-7101
Netfin Investor Relations
Contact:Gateway Investor RelationsCody Slach and Matt
Glover(949) 574-3860NFIN@gatewayir.com
Netfin Company Contact:Marat
Rosenberg, Founder & President(972) 757-5998
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