The information comes after Taulia accomplice Greensill Finance filed for insolvency earlier this week attributable to its largest shopper, GFG Alliance, defaulting on its money owed. Taulia expects at present’s credit score facility will assist its shoppers that relied on Greensill Finance by providing them entry to a special supply of liquidity.
“Taulia’s precedence, in the beginning, has been to allow companies each giant and small to unlock liquidity trapped of their provide chain with a purpose to make investments, function and thrive,” mentioned Taulia CEO Cedric Bru. “Within the present surroundings, with the potential lack of a funder, our dedication to offering alternative has turn out to be much more paramount.”
At this time’s financing is the continuation of Taulia’s strategic partnership with JPMorgan that started in April of final 12 months. Final July, the financier participated in Taulia’s $60 million financing spherical that boosted the San Francisco-based firm’s whole funding to $177 million.