XpertSea appoints Katie Sokalsky to expand its fast-growing shrimp marketplace and financial products

XpertSea, a Canadian company working to transform how seafood is farmed and traded, has announced the expansion of its management team with the addition of financial industry veteran Katie Sokalsky as President and COO.

Ms 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 percent month-over-month increase in new ponds registered on the trading platform, and 10x revenue growth from Q1 to Q4 2020.

 

Katie Sokalsky
Image credit: XpertSea

Previously the VP responsible for all new product and retail transformation at Scotiabank, one of Canada's largest banks, Ms 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,' says 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,' says Ms 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," says 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.'

Ms 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 percent-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, Ms Sokalsky obtained extensive client experience at PwC where she specialised in banking and capital markets. She also founded ChefButler, a national food-based subscription box business. Ms Sokalsky is a designated CPA and CA, and holds an Honours Bachelor of Commerce degree from Queen's University.

Visit the XpertSea website, HERE.

The Aquaculturists

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Recovery must be based on sustainability, says EU at the FAO Committee on Fisheries

fao.org

The impacts of the Covid-19 pandemic on the seafood sector dominated the 34th Session of the FAO Committee on Fisheries (COFI). 

Across the world, market disruption has hit fisheries and aquaculture hard, adversely affecting the livelihoods of fishers and seafood farmers. At the same time, the pandemic has underscored the vital contribution of the sector to the global economy, to nutrition and to food security.

European Commission

In line with the European Green Deal, the EU stressed that the post-Covid recovery must be based on sustainable management of fisheries and aquaculture, as the best tool to balance the multiple challenges of fostering economic development, whilst promoting conservation, biodiversity, food security and the fight against climate change.

As the world’s largest donor of official development assistance and the principal donor to FAO, the EU reaffirmed its commitment to supporting and promoting the contribution of fisheries and aquaculture to sustainable development.

Reaffirming its "zero tolerance" approach to illegal, unregulated and unreported fishing, the EU contributed directly to the decision to develop, for adoption in 2022, the FAO Guidelines on Transshipment operations that currently remain largely unregulated and insufficiently monitored and controlled. 

The EU also contributed to an agreement to progress on developing FAO Sustainable Aquaculture Guidelines in 2021 to ensure that the growth of global aquaculture necessary to meet increasing world demand for protein does not come at the expense of the environment, economic development or social conditions. 

Finally, the EU invited FAO to pursue the elaboration of draft guidance on social responsibility in fish value chains, building more explicitly upon key conventions in this domain[1]. These could be important soft international law instruments to advance EU interests on aquaculture and fisheries worldwide under the European Green Deal.

The delegations to the COFI meeting endorsed a Declaration on Sustainable Fisheries and Aquaculture. The declaration acknowledges the achievements of the fisheries and aquaculture sector since the establishment of the FAO Code of Conduct for Responsible Fisheries 25 years ago, and gathers collective momentum in tackling the challenges and opportunities to secure the long-term sustainability of the sector.

For further information, visit the European Commission website, HERE

 

The Aquaculturists

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Canadian seafood industry ready to lead in Blue Economy strategy consultations

 A salmon farm in the Clio Channel, British Columbia, Canada flickr.com

The Fisheries Council of Canada (FCC) and the Canadian Aquaculture Industry Alliance (CAIA) are pleased to see the launch of the federal government’s Canadian Blue Economy Strategy consultations. 

The Engagement Paper, launched today, shows nearly 90,000 jobs and Can$9 billion (US$7.07 billion) in GDP contribution for the seafood industry for Canadians - more than any other ocean-based sector. 

aquaculture.ca

The seafood sector can grow substantially in both jobs and value to help drive Covid recovery and help Canada become a global leader in the sustainable oceans economy. 

FCC and CAIA, representing Canada’s national wild and farmed seafood sectors respectively, have created a joint vision and action plan to capture the blue economy opportunity and position Canada as a global top three best producer of sustainable fish and seafood by the year 2040. 

Canada’s Blue Economy Strategy 2040 includes three sustainable growth targets and six points of action to help Canada reach its blue economy goals. 

fisheriescouncil.com

“Canadians have been building their lives around our three oceans for hundreds of years, with the seafood industry being a cornerstone of our nation’s history,” said Paul Lansbergen, President, FCC. 

“We’re ready to establish Canada’s leadership in the global blue economy, with the seafood industry leading the way.” 

The Canadian seafood industry shares the sentiment expressed in the Blue Economy Strategy engagement paper that Canada should be a leader in the global blue economy. 

With the longest coastline in the world, it only makes sense that Canada should modernise our ocean sectors in a sustainable way, consciously create more jobs in our coastal and Indigenous communities, and focus on science, technology and research to advance both the economic return and stewardship of our oceans. 

“The potential of Canada's fish and seafood industry for long-term, sustainable job-creation will be paramount for Canada's Covid-19 recovery and for Blue Economy development," said Timothy Kennedy, CAIA President & CEO. "Canada has yet to seize its seafood opportunity and this strategy development is a chance to frame and realise Canada’s outstanding Blue Economy promise.”  

As Canada shapes its blue economy strategy, the seafood industry is ready to lead with a continued commitment to sustainably capturing the potential of our oceans as we have done for hundreds of years. A rising tide lifts all boats.

For more information, read the full strategy consultation, HERE

The Aquaculturists

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