Headline News

XpertSea to expand its shrimp marketplace and financial products

Tuesday, February 16, 2021

XpertSea expanded its management team with the addition of financial industry veteran Katie Sokalsky as president and COO. Sokalsky joins XpertSea following the successful launch of its data-driven marketplace and financial services in Ecuador, with more than 10 million pounds of shrimp traded in less than 10 months, 50% month-over-month increase in new ponds registered on the trading platform, and 10x revenue growth from Q1 to Q4 2020.

Previously the VP responsible for all new product and retail transformation at Scotiabank, one of Canada's largest banks, Sokalsky will apply her experience to accelerate XpertSea’s rapid growth in Latin America and support the company’s expansion of its business model to Southeast Asia and India.

“Katie’s experience in digital transformation, financial services and traditional markets will help XpertSea grow our marketplace into new territories and develop new offerings,” said Valerie Robitaille, XpertSea’s CEO. “With her strategic and operational skills she will be key to building on our current momentum and scaling for our next phase of growth in transforming the $30 billion shrimp marketplace.”

“I was taken with XpertSea’s technology, the way they’re using it to change the lives of farmers, and the incredible results that has produced,” said Sokalsky. “I’m excited to work with Valerie and her team to build a global seafood exchange that meets the growing demand for high quality, sustainable protein while delivering positive environmental returns for our planet.”

In 2020 XpertSea launched the first data-driven marketplace that seamlessly connects shrimp farmers with a network of vetted buyers for seamless transactions, complemented by financing services that eliminate damaging delays and guarantee same day payment. “Our marketplace allows farmers to reach new buyers, while our fast payment service unlocks cash flow critical to their continuous operations,” said Robitaille. “This streamlined experience in turn benefits processors and other buyers, and will improve transparency, efficiency and profitability from farm to fork.”

Photo caption: Katie Sokalsky.

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