Varengold Bank partners with JITpay

Friday 23 July 2021 14:57 CET | News

Germany-based Varengold Bank has announced partnering with logistics-specialised payment service provider JITpay for the refinancing of JITpay’s receivables portfolio.

Varengold will refinance large parts of the receivables portfolio of JITpay’s logistics factoring division. These include small-scale spot market claims from transport services, which are billed and pre-financed via the JITpay platform or via the integration of JITpay with partners such as freight and vehicle space exchange TIMOCOM.

According to a Varengold Bank representative, the company will support JITpay in securing the flow of money for its partners. A JITpay representative states that this Special Purpose Vehicle (SPV) structure creates another refinancing option that will enable the company to grow.

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Keywords: partnership, accounts receivable, financial services, factoring
Categories: Fraud & Financial Crime
Countries: Germany
This article is part of category

Fraud & Financial Crime

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