Date: 10-07-2020 11:42AM
Category: Business/ Finance, Financial Analyst & Investors, Technology, General, Internet, Information Technology, Business Services, It & Tech
Location: San Francisco, United States
Business Wire India
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.”
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/
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