XPERTSEA EXPANDS ITS SHRIMP MARKETPLACE AND FINANCIAL PRODUCTS
XpertSea expands its shrimp marketplace and financial products. XpertSea taps financial services trailblazer Katie Sokalsky to expand its fast-growing shrimp marketplace and financial products
Sokalsky brings banking and digital transformation experience to Canadian company changing the way seafood is grown and traded.
XpertSea, a Canadian company transforming how seafood is farmed and traded, announced the expansion of 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 $30B 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 Katie Sokalsky, XpertSea’s President and COO. “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, XpertSea’s CEO. “This streamlined experience in turn benefits processors and other buyers, and will improve transparency, efficiency and profitability from farm to fork.”
Sokalsky is a veteran of the banking and financial services industries who led the digital transformation for Scotiabank’s millions of retail customers. Previously, she was CFO and Head of Operations at Goldmoney Inc., a Toronto-based fintech that operates the world’s largest 100%-reserved gold-based savings platform and payments network. In addition to managing strategic growth initiatives and partnerships, she scaled the company globally to 150 countries with over $2B on the trading platform, managed an acquisition, raised equity, and took the company public.
Prior to Goldmoney, Sokalsky obtained extensive client experience at PwC where she specialized in banking and capital markets. She also founded ChefButler, a national food-based subscription box business. Sokalsky is a designated CPA and CA, and holds an Honours Bachelor of Commerce degree from Queen’s University.