Taulia achieves record Q2 results with new deals and $6 billion released
We’re delighted to announce that we’ve achieved record Q2 results with new business deals and over $6 billion of early payments accelerated to suppliers.
- Taulia signs a number of significant business deals including Honda Motors Europe Limited and the Crown Commercial Service (CCS).
- Taulia accelerates a record $6 billion in early payments for suppliers in Q2.
- 231% growth year-on-year in early payment highlights Taulia as a global leader.
San Francisco, August 22nd 2018: Taulia, the pioneer of technology-led working capital solutions, has announced a flurry of new business deals signed, including Honda Motors Europe Limited and the Crown Commercial Service (CCS).
In addition to these major new deals signed, Taulia also secured their first two deals in South Africa with a large chemical and energy company, as well as a South African subsidiary of a worldwide retailer. Not only do these deals show how the company has continued to grow in Europe and North America, but they also demonstrate the expansion of its international reach.
Furthermore, the second quarter saw Taulia release a record-breaking $6 billion for suppliers through early payment – up from $4.5 billion in the previous quarter. This record number signifies a 231% year-on-year growth in early payments, positioning Taulia as a global leader and partner of choice.
2018 also marks a big win for Taulia in the public sector. Last quarter, the CCS – the UK government’s procurement agency – signed a framework agreement with Taulia for the exclusive provision of a Supplier Early Payment System (SEPS) to all UK government bodies. With a projected total value of $40 million, this is the largest deal signed by Taulia since it was founded in 2009.
Commenting on the success of this record-breaking quarter, Cedric Bru, CEO of Taulia, said: “This second quarter has been a huge success and we look forward to joining forces with even more businesses in the next quarter. Executing $6 billion in early payments is testament to the innovative businesses who use our solutions to increase their working capital to win in the marketplace.”
Taulia’s outstanding results in Q2 can largely be attributed to its award-winning platform – a platform that has introduced new levels of insight for clients. The platform allows clients to harness the power of AI, using data from millions of invoices and third-party sources, to see how much cash can be released and what the impact will be on the supply chain.
Bru continued: “Our ultimate aim is to address the $14 trillion trapped in supply chains globally. We are still in the early phases of this journey, but we can’t wait to build on this record quarter and release even more trapped cash for businesses all around the world.”