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The latest round of funding comes soon after the company announced reaching profitability in 2019 and a new strategic alliance with J.P. Morgan earlier this year.
Fremont, CA: Working capital technology solutions provider, Taulia, raised USD 60 million in a strategic funding round. The Ping And Global Voyager Fund led the investment round with additional participation from J.P. Morgan, Prosperity7 Ventures and existing investors including Zouk Capital. Proceeds from the investment round will help Taulia accelerate growth as the company sets its sights on further global expansion.[vendor_logo_first]
"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," said Cedric Bru, CEO of Taulia.
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The latest round of funding comes soon after the company announced reaching profitability in 2019 and a new strategic alliance with J.P. Morgan earlier this year. The company processes over USD 500 billion in spending annually across its network using technology-enabled solutions and innovations, including machine learning.
"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," said Donald Lacey, Managing Director and COO of the Ping An Global Voyager Fund.
Using 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. The company's vision is to create a world where every business thrives by enabling buyers and suppliers to choose when to pay and get paid.
"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."
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