Fintech Traxpay cooperates with DZ Bank for supply chain financing

Wednesday 23 March 2022 15:25 CET | News

Germany-based DZ Bank and fintech Traxpay announced partnering for DZ Bank to use the Traxpay-developed supply chain financing digital platform.

With this partnership, direct customers of DZ Bank could process trade receivables and payables digitally and pre-finance them. Traxpay offers companies access to various forms of financing such as Dynamic Discounting, Reverse Factoring, and Factoring, which are adaptable to the liquidity needs of customers.

DZ Bank aims to establish itself as a digital financing partner as well as an intermediary of digital solutions in supply chain finance for its corporate customers. In mid-2020, Deutsche Bank acquired an almost 3% stake in the fintech and thus brought it on board as a partner. Since then, Traxpay has entered into further partnerships with Nord/LB, LBBW, and KfW Ipex-Bank.

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Keywords: partnership, accounts receivable, accounts payable, financial services, factoring
Categories: Banking & Fintech
Countries: Germany
This article is part of category

Banking & Fintech

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