Covantis

What Covantis does

Covantis is a Geneva-headquartered digital platform company that modernizes post-trade execution workflows for the global agricultural commodity trading industry. Founded in March 2020 as a joint venture among seven of the world's largest agricultural trading houses — ADM, Bunge, Cargill, COFCO International, Louis Dreyfus Company, Viterra, and Marubeni (joined 2022) — the company operates an independent, neutral platform connecting trading firms, exporters, FOB sellers, charterers, CFR buyers, surveyors, and agents across the bulk commodity supply chain. The platform covers grains, oilseeds, vegetable oils, and sugar across export corridors in North America, South America, Europe, Australia, and South Africa, and in 2024 captured 63% of physical exports in its active markets, processing 808 million metric tons of transactional volume across 6,800+ vessels.

The technology stack is built on Ethereum-compatible blockchain infrastructure developed in partnership with ConsenSys and hosted on Microsoft Azure, providing immutable transaction records and secure document custody. The product suite comprises five integrated modules: Voyages (the core execution platform for string management, contractual notices, documentary instructions, and document workflows), CircleOut (a pre-execution netting engine that automatically identifies circles and washouts in physical commodity strings), QuickDocs (an AI-powered document checking solution using LLMs and computer vision to validate shipping documents against letters of credit), eBL (an electronic Bill of Lading approved by the International Group of P&I Clubs, built with Secro), and DocCreate (a collaborative document drafting tool). The company holds SOC 2 Type 2 certification and supports integration with enterprise CRM and ERP systems.

Covantis employs 160+ professionals and generates revenue through a combination of enterprise platform subscriptions and transaction-based fees tied to trade volume processed through the system. Pricing is quote-based and tailored to individual customer requirements. Distribution is via direct enterprise field sales, with regional sales representatives in São Paulo and Singapore serving Latin American and Asia-Pacific markets respectively. As a jointly owned industry utility, strategic decisions are made through a board structure with one seat per founding member, aligning the company's roadmap with the operational priorities of the world's largest agricultural commodity traders.

Name

Covantis

Legal name

COVANTIS SA

Website

https://covantis.io

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Covantis is a Geneva-based digital platform that modernizes post-trade execution for global agricultural commodity trading, connecting 75+ trading firms and 230+ legal entities across grains, oilseeds, sugar, and vegetable oils through blockchain infrastructure and AI-powered document automation.

Ownership category

akta.pro rank

Product category

Agricultural Trade Execution Software

NAICS

Postharvest Crop Activities (except Cotton Ginning) (115114)

SIC

Deep Sea Foreign Transportation Of Freight (4412)

akta.pro primary industry

Cross-border Import/Export Generalist Marketplaces (CRAFAAAE)

Keywords

• Agricultural trade execution
• Post-trade commodities platform
• Electronic bill of lading
• Bulk shipment workflow
• Trade document automation

Headquarters

HQ city

Geneva

HQ country

Switzerland

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Platform Subscription and Transaction Fees: Covantis operates a platform-based revenue model serving agricultural commodity trading companies. The revenue is generated through subscription access to the platform combined with transaction-based fees tied to trade volume processed through the system. This model aligns with the company's focus on connecting trading firms across the commodity supply chain and processing high volumes of trade documentation and execution workflows.
2. Transaction Processing: Revenue is also derived from transaction fees associated with the volume of trades, shipments, and documents processed through the platform. This usage-based component scales with customer activity and trade volume.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Covantis is a blockchain-based digital platform that streamlines post-trade execution workflows for agricultural commodity bulk shipping. It connects exporters, FOB sellers, charterers, CFR buyers, surveyors, and agents on a single collaborative environment for managing string operations, contractual notices, documentary instructions, document workflows, electronic Bills of Lading, and circle/washout identification across grains, oilseeds, sugar, and vegetable oils markets.

Product overview

Covantis is a platform-plus-modules architecture offering five integrated products for post-trade execution in agricultural commodity bulk shipping. The core platform, Voyages, handles end-to-end trade execution: string management, contractual notices, documentary instructions, document workflows, circles and bypasses, B2B communication, and surveyor appointments. CircleOut is a pre-execution netting module that automatically identifies circles and washouts to optimize working capital. QuickDocs is an AI-powered document checking module that validates shipping documents against instructions and Letters of Credit. eBL enables electronic Bill of Lading issuance and transfer. DocCreate enables collaborative document drafting. Together, these products cover the full post-trade lifecycle from contract execution through document presentation and payment, serving over 75 global and regional trading firms across grains, oilseeds, sugar, and vegetable oils markets.

Differentiator

Problem solved

Functional benefit

Brands

• Voyages: Digital platform for managing bulk shipments and post-trade execution workflows including documentary instructions, contractual notices, string management, and document workflows.
• CircleOut
• QuickDocs
• eBL
• DocCreate

Products and services

• Voyages A digital trade execution platform for managing all bulk shipment operations — from string management and contractual notices to documentary instructions, document workflows, circles and bypass resolution, B2B communication, and surveyor appointments. Used by exporters, FOB sellers, charterers, CFR buyers, and surveyors across the global agricultural commodity supply chain.
• CircleOut A digital platform that helps commodity traders identify circles and washouts across complex contract chains by automatically matching contract positions before contract execution, enabling position netting, settlement calculations, and pre-execution optimization of working capital and counterparty credit exposure.
• QuickDocs An AI-powered solution that automatically organises, splits, and checks data from shipping documents against documentary instructions and letters of credit, flagging discrepancies to reduce errors, streamline document approval workflows, and mitigate risks associated with trade documentation.
• eBL (electronic Bill of Lading) A platform for the secure issuance, transfer, and presentation of electronic Bills of Lading alongside other electronic shipping documents, enabling real-time collaboration between exporters, charterers, CFR buyers, agents, vessel owners, and banks in a secure ecosystem — built in partnership with Secro.
• DocCreate A collaborative document creation solution that enables teams to generate accurate shipping document drafts from received documentary instructions, supporting real-time multi-party collaboration, bulk editing, template management, and full audit trails — reducing manual input, minimizing errors, and accelerating document workflows.

Quantifiable outcome

• 80% reduction in manual data entry time through automated document processing
• +1 more outcomes

Named customers7 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability9 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• ConsenSyscoreTechnology or IntegrationConsenSys serves as the core blockchain technology partner for Covantis, providing the distributed ledger infrastructure that underpins the platform's secure, transparent transaction capabilities. This partnership enables blockchain-based post-trade execution for agricultural commodity trading.
• Microsoft AzurecoreTechnology or IntegrationMicrosoft Azure provides the cloud infrastructure powering the Covantis platform. The Azure cloud environment supports the platform's scalability, security, and global availability requirements for serving trading firms worldwide.
• SecrocoreTechnology or IntegrationSecro is the technology partner for the electronic Bill of Lading (eBL) functionality, providing the digital infrastructure for electronic document transfer and custody in commodity shipping operations.
• RabobankcoreTechnology or IntegrationRabobank partners with Covantis on the eBL Custody solution, providing trusted financial institution infrastructure for secure electronic Bill of Lading custody and transfer services.
• CognizantminorImplementation/ SI/ Consulting PartnerCognizant provides professional services and implementation support for Covantis platform operations, helping with system integration and operational delivery.

Scale indicators5 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Bolero: Bolero provides electronic trade documentation, digital bills of lading, and trade-finance messaging for commodity and shipping transactions. It directly overlaps with Covantis's Voyages and eBL products in cross-border commodity trade execution.
• essDOCS: essDOCS is a long-established provider of electronic Bills of Lading and trade documentation platforms used by banks, traders, and carriers. It competes head-to-head with Covantis's eBL offering in commodity and shipping document digitization.
• Komgo: Komgo is a blockchain-based trade finance and digital documentation platform built by major commodity and energy traders and banks. It is directly comparable to Covantis in targeting post-trade execution workflows for global commodity houses.
• Enigio: Enigio provides trace:original, an electronic original document solution including electronic Bills of Lading. It competes with Covantis eBL in offering digital, legally compliant trade documents for global commodity and shipping flows.
• CargoX: CargoX is a blockchain-based electronic Bill of Lading and document transfer platform for the shipping industry. It is a direct competitor in the digital trade-document space that Covantis's eBL module targets.
• WAVE BL: WAVE BL is an electronic Bill of Lading network and platform that digitizes and transfers shipping documents. It is comparable to Covantis eBL as a focused digital trade-document infrastructure provider for commodity shippers.
• TradeIX (Marco Polo Network): TradeIX operates the Marco Polo Network, a blockchain-based open account trade finance platform connecting corporates, banks, and other trade participants. It overlaps with Covantis's platform in digitizing commodity trade execution and financing workflows.

Broad incumbents

• Contour (formerly Voltron): Contour is a digital trade finance network built by major banks to digitize letters of credit and documentary presentations. It is a broader incumbent in trade documentation and credit workflows that intersects with Covantis's QuickDocs use cases.
• LSEG (Refinitiv) Commodity Trading: LSEG (formerly Refinitiv) provides commodity trading data, analytics, and trade workflow tools widely used by global trading houses. It is a broader incumbent in commodity trade infrastructure with overlap in trade execution and analytics workflows.

Emerging players

• Eka Software Solutions: Eka provides CTRM (commodity trading and risk management) software for agricultural and other commodity traders. It is an adjacent player offering pre-trade and risk workflows that complement or compete with parts of Covantis's platform stack.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Covantis