Taulia raises $60 mn in strategic funding led by Ping An

Source: IBS Intelligence 2020-07-10

Cedric Bru, CEO of Taulia

San Francisco based Taulia, a leading provider of technology solutions for working capital has announced that the firm has raised $60 million in the strategic round of financing led by the Ping An Global Voyager Fund.

The funding round saw participation from JP Morgan, Prosperity7 Ventures and existing investors such as Zouk Capital. The FinTech is planning to use the investment to enhance the company’s growth and continue its global expansion course.

“The interest and investment of this trio of Fortune Global 50 companies underlines the marketability of the Taulia solution. Ping An, JP Morgan and Prosperity7 Ventures bring with them a wealth of knowledge that we will use to further serve companies’ liquidity needs and contribute to economic growth,” said Cedric Bru, CEO of Taulia.

Earlier this year, Taulia formed a strategic partnership with J.P. Morgan for creating a trade finance solution. The firm, by using technology-based solutions and innovations such as machine learning, processes over $ 500 B in annual spending over its network.

“Our goal is to provide our customers with the best solutions on the market and our strategic alliance with Taulia has been well received by customers. The investment component is another step in expanding our partnership to better meet the expectations of our customers and their supply chains through our global trade franchise,” said Stuart Roberts, Global Head of Trade, JP Morgan.

“Access for small and medium-sized companies to efficient sources of finance is an issue of great importance in the current economic environment. Taulia is a leader in supply chain financing technologies and has a global presence spanning more than two million suppliers. Its solutions enable a dramatic improvement in the liquidity management of small and medium-sized companies. We look forward to working with Cedric and his team to further expand their capacities in China,” said Donald Lacey, Managing Director and COO of the Ping An Global Voyager Fund.

Founded in 2009, Taulia is a FinTech that provides working capital management, electronic invoicing, supply chain finance, and dynamic discounting services. It helps companies access the value tied up in their supply chain by transitioning from manual working capital management practices into technology-led, working capital optimization strategies. Its client portfolio includes Airbus, AstraZeneca, Dairy Farmers of America, Pfizer, and Vodafone.

Taulia

JPMorgan

Taulia raises $60 mn in strategic funding led by Ping An

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