San Francisco-based fintech raises $60 million in new strategic funding round
SAN FRANCISCO-Friday 10 July 2020 [ AETOS Wire ]
(BUSINESS WIRE)-- Taulia,
the leader in working capital technology solutions, today announced a
new strategic funding round of $60 million led by the Ping An Global
Voyager Fund with additional participation from J.P. Morgan, Prosperity7
Ventures and existing investors including Zouk Capital. The funding
will help accelerate growth as the company sets its sights on further
global expansion.
CEO of
Taulia, Cedric Bru said, “It’s a testament to the product-market fit of
the Taulia solution that we have garnered the interest and investment
from this trifecta of Fortune Global 50 companies. Ping An, J.P. Morgan
and Prosperity7 Ventures bring a wealth of knowledge that we will
leverage to further solve liquidity needs of businesses and contribute
to economic growth.”
Donald Lacey,
Managing Director and COO of the Ping An Global Voyager Fund, said,
“Providing SMEs access to efficient sources of financing is a topic of
incredible importance in today’s economic environment. Taulia is at the
forefront of supply chain finance technology, with a global footprint
that spans over two million SME suppliers and a suite of solutions that
dramatically improves SMEs’ ability to manage cash. We are excited to
partner with Cedric and his team to build out their capabilities in
China.”
This latest
round of funding comes as Taulia announced reaching profitability in
2019 and a new strategic alliance with J.P. Morgan earlier this year.
Using technology-enabled solutions and innovations including machine
learning, the company processes over $500 billion in spend annually
across its network.
“We’re
committed to bringing the best solutions in the market to our customers
and our strategic alliance with Taulia has been well received by
clients,” said Stuart Roberts, Global Head of Trade, J.P. Morgan. “The
investment component is another step in our relationship as we look to
better serve clients and their supply chains within our Global Trade
franchise.”
Aysar Tayeb,
Executive Managing Director of Prosperity7 Ventures a Venture Capital
Fund of Aramco, said, “Taulia is a very promising company that is
providing real value to buyers and suppliers through a smart combination
of dynamic discounting and supply chain financing. Taulia’s innovative
solution will be an essential component for many corporates and SMEs as
they strive for working capital optimization, which is a pressing
priority through the current economic challenges.”
About Taulia
Taulia is
a leading provider of working capital solutions headquartered in San
Francisco, California. Through a unique combination of its technology
platform, people and process, Taulia helps companies access the value
tied up in their supply chain by transitioning from inefficient and
often manual working capital management practices into technology-led,
working capital optimization strategies. Taulia’s vision is to create a
world where every business thrives by enabling buyers and suppliers to
choose when to pay and get paid. A network of 2 million businesses use
Taulia’s technology and the company processes over $500 billion every
year. Taulia is trusted by the world’s largest companies including
Airbus, AstraZeneca, Nissan and Vodafone. For more information, please
visit www.taulia.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20200709005603/en/
Contacts
Juhie Kapoor
Director of Content and Communications
juhie.kapoor@taulia.com
Mary Arrizza
Marketing Communications Associate
mary.arrizza@taulia.com
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