Working capital technology provider Taulia has secured a $60m investment, which was led by the Ping An Global Voyager Fund.
Contributions to the round also came from J.P. Morgan, Prosperity7 Ventures and existing investors including Zouk Capital. Earlier in the year, Taulia formed a strategic alliance with J.P. Morgan.
This equity injection will be used to support the global expansion efforts of the startup.
Taulia offers an automated invoice processing solution designed to help firms quickly pay their suppliers. Clients can also earn discounts on their supplier fees through the use of Taulia.
Through Dynamic Discounting, a supplier can indicate which invoices they want paid earlier to help them meet cash flow needs. In return, the company can get a discount on the total payment, with the earlier the payment, the bigger the discount.
Clients struggling to pay invoices can also use Taulia to improve their financial situation. Third-parties can pay the suppliers on a business’ behalf, helping to pay suppliers on time.
The funding comes after Taulia reached profitability in 2019.
Ping An Global Voyager Fund managing director and COO Donald Lacey 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.”
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