TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
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It’s a Marathon, Not a Sprint
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It’s Not Too Late – Five Member Benefits to Cash In On Now
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It’s Time To Break Up With Your Phone
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Lien Management – What You Need to Know
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Potential Impacts of Blockchain on Commercial Lending
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How to be a Good Leader
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
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A Commercial Banker’s Tickler Transition Plan
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
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January 13, 2022
Source: GlobeNewswire
Quartix aims to support the rapidly growing demand for its digital products that enable industrial buyers and vendors to pay or collect whenever they want, regardless of payment terms
CHARLOTTE, N.C., Jan. 13, 2022 (GLOBE NEWSWIRE) -- Fintech company Quartix, who provides a SaaS platform that unlocks digital Supply Chain Finance solutions to mid-size industrial companies, announced today it has successfully secured a $20M funding facility from two Fintech credit funds with a potential to increase the credit facility.
This facility will allow Quartix to support increased demand for digital, affordable credit products that provide flexibility for US clients and their eligible vendors to make payments or collections whenever they want, regardless of payment terms. Covid-19 significantly boosted demand for this flexibility among manufacturers and distributors due to pressured corporate cash flows and supply chains.
“Mid-market clients ($25M-$2B) are mainly served by traditional banks that offer secured, committing credit products. Clients’ cash flow needs are changing rapidly, and traditional bank products aren’t catching up. Quartix adds a real-time, on-demand layer to cash flow management. Our unsecured credit products complement and co-exist with traditional bank credit lines allowing CFOs and treasurers to better plan their cash flow, overcome temporary cash crunches and unlock cash from their supply chain,” said Dror Polak, CEO of Quartix.
Noam Mani, Quartix’s CRO adds: “Supply chains are under immense pressure these days. Payment terms are a win-lose for clients and their vendors. This is a constant source of friction. Quartix makes this a win-win allowing procurement professionals to improve vendor relations, support key vendors, reduce vendor friction and avoid supply disruptions. It’s easier for vendors to do business with clients that use Quartix.”
Advanced trade-finance products were previously available exclusively to Fortune 1000 companies. By unlocking digital real-time products to middle-market clients, Quartix democratizes Supply Chain Finance and levels the playing field, thereby allowing smaller companies to better compete with Fortune 1000 giants. Real-time data is used to optimize products to cater to actual client / vendor needs at affordable rates – offering unsecured credit lines of up to $10M.
John Fox, CCO of Capital Foundry Funding, that led the funding round, noted that: “On-demand credit products that cater to real-time trade events bridge a real gap that exists in the middle-market today, as Quartix’s rapid growth demonstrates. We’re happy to continue and support this growth. By catering to industrial supply chains, Quartix gains data and scale advantages that will enable it to become a Fintech leader in the underserved middle-market segment. We are very pleased to support the growth of Quartix, a very valued partner.”
About Quartix
Founded in 2017 and based in Charlotte, NC with offices in Ramat Gan, Israel, Quartix’s (www.GoQuartix.com) SaaS cloud connects middle-market buyers, their vendors, and institutional investors, allowing buyers and vendors to pay or collect invoices whenever they want, regardless of payment terms.
Contact:
Noam Mani
718-218-5816
noam.mani@goquartix.com
