SAP Moves Into SCF Industry With Taulia Acquisition
SAP, the leading enterprise software company, recently joined the SCF or supply chain finance industry when they agreed to buy a majority stake at Taulia. A leading working capital solutions provider, Taulia provides early payment with the help of accounts and inventory receivable finance, dynamic discounting, and SCF. The company is now valued at a whopping US$400m according to the Wall Street Journal.
Following the deal with SAP, Taulia will continue to operate as an independent company under the SAP banner. Cedric Bru will remain the Chief Executive while Luka Mucic, the former Chief Financial Officer at SAP will become Chairman of Taulia’s board.
SAP has labeled Taulia as an important partner who has provided valuable integration into SAP solutions. They also confirmed that more than 80% of Taulia’s customers including valuable clients like AstraZeneca, Nissan, and Airbus now use SAP’s ERP systems. The new deal won’t rob Taulia’s non-SAP customers. They can continue working with Taulia’s standalone solutions to allow everyone to use the platform.
Luka Mucic from SAP also added that their new deal with Taulia will increase their portfolio and add value to their financial stability and flexibility. They will combine SAP’s huge CFO solution portfolio with Taulia’s deep working capital management expertise to become a new leader in the world of working capital management. The new models will help businesses seize their growth opportunities and improve their financial positions.
SAP and Taulia’s new partnership will not harm Taulia’s partnership with JP Morgan. The bank will continue its equity stake in fintech. SAP confirmed that they will welcome other strategic bank partners too to become equity partners in Taulia.
Other news
-
31.05.2023
DP World and Standard Bank Partner to Expand Trade Finance in Africa
-
15.05.2023
G7 Leaders To Tighten Russian Sanctions on Trade & Energy
-
11.05.2023
BRICS New Currency To Challenge US Dollar Dominance In International Trade
-
08.05.2023
China’s Trade Fair Struggles To Draw Buyers As Slow Global Economy Growth
-
05.05.2023
BNP Paribas Joins Hands with Bank of China to Promote e-CNY
-
03.05.2023
UNCTAD to Host Third United Nations Trade Forum 2023
-
27.04.2023
China To Host Beijing Summit To Promote Global Trade, Investment
-
25.04.2023
South Korea Adds Back Japan To Its 'White List' On Trade
-
20.04.2023
Standard Chartered Signed a $700m Deal with IFC To Aid Global Trade Finance
-
17.04.2023
133rd China Import and Export Fair Took Place
Exchange Rates
- 01.06.2023
- Find out more