Taulia has officially announced a strategic alliance with the largest US Bank JPMorgan (NYSE:JPM). According to a release, the partnership is said to create a unique trade finance solution for JPM clients. Crowdfund Insider covered the partnership this past weekend.
Going forward, JPMorgan’s clients will have the ability to onboard suppliers of all sizes across the globe and the flexibility to toggle between bank-funded and self-funded early payments. Taulia’s platform will be able to provide credit effortlessly while unlocking working capital buried within supply chains.
“Combining Taulia’s technology and delivery with JPMorgan’s global reach creates an unmatched value proposition for clients. Our mission is to allow businesses to thrive by having access to cash in a predictable and cost-effective manner. This strategic alliance further strengthens our purpose.”
Takis Georgakopoulos, Global Head of Wholesale Payments at JPMorgan, said they are always looking for ways to enhance client experience within wholesale payments:
“With Taulia, we’re better positioned to serve our clients for the long term, allowing them to inject and redeploy liquidity to their suppliers, ensuring continued operations during this challenging time.”
The JPMorgan – Taulia partnership is described as the most significant strategic alliance with a Fintech in the trade finance business, as the firm looks to leverage Taulia’s technology platform, data and analytics to enhance and optimize corporate supply chains.
Taulia is a more quiet Fintech Unicorn that is doing a huge amount of business. Launched in 2009, Taulia works with over 1000 customers processing over $500 billion a year. The company’s unique integration provides profound insight into credit risk. The company has experienced a zero default rate in ten years of business and currently has little competition in this sector of Fintech. Taulia’s biggest competitor is Citi but Taulia’s tech is far better.
At one point, Taulia considered an initial public offering but today the company is looking more like an M&A target. Taulia has raised over $175 million in venture funding.