Walter Matter

What Walter Matter does

Walter Matter SA is a Geneva-based, third-generation family-owned commodity trading firm founded in 1920, specialising in the global sourcing and trading of coffee and cocoa. The company operates a direct-sourcing model with no intermediaries, dispatching buyers on-site across more than 30 coffee origins and more than 20 cocoa origins worldwide, with long-standing positions such as top-5 importer of Ethiopian coffee (over 40 years sourcing) and approximately 30% of Madagascar's cocoa production. Revenue is generated through trading margins on physical coffee and cocoa transactions, supplemented by bundled logistics, financing, hedging, and risk-management services provided to professional B2B buyers, principally chocolate manufacturers and coffee companies.

The company's service portfolio spans selection and sourcing, end-to-end logistics, and financial/risk management, all delivered by a lean team of fewer than 40 employees led by CEO Nicolas Matter (third generation) and a long-tenured leadership including COO Roger Fry (41 years) and Head of Cocoa Trading Eric Bourgeois (30+ years cocoa experience). Walter Matter holds an EcoVadis Bronze Medal (2022) and supports Rainforest Alliance and Fairtrade certifications across its supplier base.

Technology-wise, Walter Matter's principal proprietary platform is TRACER, a GeoAI tool developed in partnership with Swiss startup Picterra that automates deforestation-risk assessments by overlaying geolocation data (GPS points and polygons from agricultural plots) with public forest maps and satellite-based deforestation alerts. TRACER has been applied to more than 300,000 farm plots across 25+ countries and shipments from nearly 100 suppliers, and it underpins Walter Matter's positioning for EU Deforestation Regulation (EUDR) compliance. Complementary digital tools include the KoboToolbox-based first-mile traceability system deployed in the Ethiopia Traceability Project (co-funded with the Swiss Agency for Development and Cooperation, 2022–2024).

Name

Walter Matter

Legal name

Walter Matter SA

Website

https://wama.ch

Company type

Private

Founded year

1920

Operating status

Operating

Headcount range

11–50 employees

Short description

Walter Matter SA is a third-generation, family-owned Geneva-based commodity trader founded in 1920, specialising in direct sourcing and trading of coffee and cocoa from over 30 coffee and 20 cocoa origins for chocolate manufacturers and coffee buyers worldwide.

Ownership category

akta.pro rank

Product category

Agricultural Commodity Trading

NAICS

Coffee and Tea Manufacturing (311920)

SIC

Miscellaneous Food Preparations & Kindred Products (2090)

akta.pro primary industry

Coffee, Tea & Cocoa Trading/Wholesale (AFAIAKAD)

akta.pro secondary industries

Fair Trade & Ethical Supply Chains (Certification, Traceability, Producer Support) (BPAGALAL), Supplier Quality Assurance & Vendor Approval Programs (AFALALAB), Supplier Engagement & Value-Chain Decarbonization Programs (EUABAKAE)

Keywords

• Coffee commodity trading
• Cocoa commodity trading
• Agricultural commodity sourcing
• Supply chain logistics
• Deforestation risk monitoring

Headquarters

HQ city

Geneva

HQ country

Switzerland

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Coffee and Cocoa Trading: Walter Matter operates as a family-owned, independent merchant specializing in coffee and cocoa trading. The company selects and sources premium coffee and cocoa beans from origins worldwide, supplemented by logistics, financial, and risk management services. Revenue is generated through the trading margin on physical commodity transactions, with additional revenue streams from financing and hedging services provided to clients.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Walter Matter SA is a family-owned, independent merchant specializing in the global trading of coffee and cocoa beans sourced from over 30 coffee origins and over 20 cocoa origins worldwide. The company provides end-to-end services including selection and sourcing, logistics, financing, hedging, and risk management for professional B2B buyers such as chocolate manufacturers and coffee roasters. It has developed the TRACER GeoAI platform in partnership with Picterra to deliver automated deforestation risk assessments and EUDR compliance support across its supply chains.

Product overview

Walter Matter is a family-owned coffee and cocoa commodity trading company offering a unified portfolio of sourcing, logistics, and financial services for commodity trading. The core offerings include coffee trading (30+ origins) and cocoa trading (20+ origins), supported by logistics and risk management services. TRACER is the company's proprietary GeoAI platform developed with partner Picterra for deforestation risk assessment, representing their main technology product for supply chain compliance.

Differentiator

Problem solved

Functional benefit

Products and services

• Coffee Trading & Sourcing Global coffee commodity trading with direct sourcing from over 30 origins worldwide, specializing in Arabica and Robusta varieties. Provided to professional B2B buyers such as chocolate manufacturers and coffee roasters.
• Cocoa Trading & Sourcing Global cocoa commodity trading with direct sourcing from over 20 origins, specializing in fine flavour and certified cocoas including Forastero, Criollo, and Trinitario varieties. Provided to professional B2B buyers such as chocolate manufacturers.
• Logistics Services

Quantifiable outcome

• Over 300,000 farm plots assessed for deforestation risk across 25+ countries using TRACER
• +4 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability4 records

Feature1 record

Partnerships

Nine partnerships are on record, tiered flagship / core, core and minor.

• Picterraflagship / coreTechnology or IntegrationStrategic collaboration with Swiss GeoAI startup Picterra led to the creation of TRACER, a platform that automates deforestation risk assessments by overlaying geolocation data (GPS points and polygons from agricultural plots) with public forest maps and deforestation alerts. The platform has assessed over 300,000 farm plots across 25+ countries. The partnership combines Walter Matter's supply chain expertise with Picterra's satellite analysis capabilities.
• Swiss Platform for Sustainable Cocoa (SWISSCO)coreStrategic or Co-development PartnerWalter Matter joined SWISSCO as a member to collaboratively address urgent cocoa industry challenges including climate change, poverty, child labour, and traceability. SWISSCO brings together Swiss manufacturers, traders, retailers, NGOs, and research institutions to enhance sustainable cocoa sourcing and implement the Roadmap 2030 with measurable sustainability targets.
• International Cocoa Initiative (ICI)coreStrategic or Co-development PartnerWalter Matter joined ICI as a contributing partner, committing to responsible business practices and due diligence to prevent and address child and forced labour in its cocoa supply chain. ICI unites cocoa sector stakeholders including producers, manufacturers, civil society, and international organisations (ILO, UNICEF, OHCHR) around the goal of building responsible supply chains.
• coffee&climate (c&c)coreStrategic or Co-development PartnerCollaboration since early 2022 with c&c, a global initiative founded by major coffee companies addressing climate change impacts on coffee-farming communities. The partnership supports smallholder resilience through practical tools and training. Over 92,000 households in East Africa, Indonesia, and South/Central America have benefited from c&c programmes.
• Swiss Agency for Development and Cooperation (SDC)coreStrategic or Co-development PartnerCo-funder of the Ethiopia Traceability Project, an 18-month initiative (November 2022 – April 2024) led by Walter Matter and S.A. Bagersh to implement first-mile digital traceability in Ethiopia's fragmented coffee supply chain. The project supported 3 wet mills in the Sidama region and trained approximately 600 farmers on good agricultural practices.
• S.A. Bagersh (Ethiopia)coreStrategic or Co-development PartnerLong-standing commercial partner in Ethiopia that co-implemented the Ethiopia Traceability Project with Walter Matter. S.A. Bagersh provides local buy-in, collaboration with washing stations, and engagement with local authorities in the Sidama region.
• Tropical Research Services (TRS)minorStrategic or Co-development PartnerTRS has supported Walter Matter's coffee market research since 2020, providing market analysis, price research, weather impact assessment, and fertilizer supply monitoring to support trading decisions.
• European Coffee Federation (ECF)minorGTM or Marketing PartnerWalter Matter actively participates in discussions within ECF to help shape sectoral approaches to EUDR compliance and sustainability standards in the coffee industry.
• European Cocoa Association (ECA)minorGTM or Marketing PartnerWalter Matter actively participates in discussions within ECA to define sectoral approaches to EUDR compliance and sustainability standards in the cocoa sector.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• ECOM Trading: Swiss-based independent commodity merchant trading coffee and cocoa globally. ECOM is the closest direct peer to Walter Matter — same product focus, similar independent-merchant positioning, and overlapping origin footprint in Latin America, Africa, and Asia.
• Touton: French family-influenced commodity trader specializing in coffee and cocoa. Directly comparable business model — origin sourcing, sustainability programs, and value-added services (logistics, financing) targeting industrial chocolate and coffee buyers.
• Volcafe (ED&F Man): One of the world's largest coffee traders, owned by ED&F Man. Directly comparable to Walter Matter's coffee trading business: specialty and commercial-grade green coffee, origin presence across Latin America, Africa, and Asia, and direct-to-grower sourcing model.
• Sucden (Sucres & Denrées): Paris-based commodity trader with significant coffee and cocoa operations. Comparable to Walter Matter in offering origin-to-destination supply chain services, with overlap in African cocoa origins and Latin American coffee origins.
• Bernhard Rothfos: Hamburg-based green coffee trader and cocoa agent. Direct peer of comparable size and business model — independent merchant focused on green coffee and cocoa origination, sales, and logistics for industrial roasters and chocolate manufacturers.

Emerging players

• Daarnhouwer & Co. Dutch specialty cocoa trader focused on fine flavour and single-origin beans. Comparable to Walter Matter's specialty cocoa business (fine flavour varieties, direct sourcing, premium positioning) but at a smaller scale and narrower geographic focus.

Broad incumbents

• Barry Callebaut: World's largest chocolate manufacturer with deep cocoa sourcing operations. Comparable to Walter Matter's cocoa business — direct sourcing from West African, Latin American, and Asian origins — but operates as a downstream manufacturer rather than an independent merchant.
• Olam Food Ingredients (ofi): Major cocoa, coffee, and edible nuts platform spun out of Olam Group. Directly comparable in coffee and cocoa origination, sustainability programs, and B2B industrial customer base, but with substantially larger scale and broader product portfolio.
• Louis Dreyfus Company: Global commodity merchant with a significant coffee platform. Broader incumbent operating across multiple commodity verticals — overlapping with Walter Matter in green coffee origin sourcing and physical trading, but with a fundamentally different scale and scope.
• Cargill Cocoa & Coffee: Global agribusiness major with one of the largest cocoa and coffee trading operations. Broader incumbent comparable to Walter Matter in coffee/cocoa sourcing, trading, and risk management, but with vastly greater scale, capital base, and product breadth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/walter-matter

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

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 Walter Matter