One of the least recognized victims of the public health crisis of COVID-19 is the global supply chain. The economic damage from efforts to stem the spread of the coronavirus – from lockdowns to worker shortages to closed borders – has brought new levels of uncertainty to the international economy.
This makes news that supply chain finance solutions provider Taulia has forged a strategic partnership with J.P. Morgan all the more welcome. The collaboration will enable J.P. Morgan to build a “unique and differentiated” trade finance solution for its clients, giving them the ability to onboard a wide range of supplier types and sizes. The new solution will empower them to add liquidity to their supply chain, gain more visibility and control over their cash, and uncover working capital that is “trapped” inside their supply chains.
“With Taulia, we’re better positioned to serve our clients for the long term, allowing them to inject and redeploy liquidity to their supplies, ensuring continued operations during this challenging time,” J.P. Morgan Global Head of Wholesale Payments Takis Georgakopoulos said. Taulia CEO Cedric Bru praised the partnership as an opportunity to combine his company’s “technology and delivery” with J.P. Morgan’s worldwide reach.
“Our mission is to allow businesses to thrive by having access to cash in a predictable and cost-effective manner,” Bru said. “This strategic alliance further strengthens our purpose.”
A Finovate alum since 2012, Taulia most recently demonstrated its technology at FinovateEurope, presenting the Enhanced Discounting feature of its platform. This technology combines dynamic discounting with flexible supplier financing to provide uninterrupted, affordable financing regardless of the amount of cash on hand. The company’s network links 1.5 million businesses across 168 countries, and has accelerated more than $80 billion in early payments via its AI-powered platform.
Founded in 2009 and headquartered in San Francisco, California, Taulia has raised more than $176 million in funding.
Source: https://finovate.com/taulia-teams-up-with-j-p-morgan-on-trade-finance/
