Wednesday 10th January, 2018
Taulia has announced that on Wednesday December 20th more than $1bn of invoices were accelerated in a single day.
This figure has been the largest single-day value since the company was founded and it highlights the continued strong appetite for cash from businesses around the world. In December alone, the amount of spend accelerated through Taulia grew 150% year over year.
This achievement underscores the growth of financial technology companies like Taulia into the B2B financing mainstream as providers of easy-to-access, liquidity for all companies. Over 1.5 million companies have chosen to join Taulia’s network with 94% of the Fortune 500 using Taulia platform to accelerate access to cash. Together, these companies have transacted in excess of $1.2 trillion invoices through Taulia’s platform.
Cedric Bru, Taulia’s CEO, said “We cannot overstate the importance of this achievement. Early payment options are now firmly part of any working capital improvement program and reaching this milestone shows that working capital and the ready access to cash continue to be on the minds of all businesses.”
Demand for cash isn’t just linked to small companies either as is traditionally thought to be the case. Taulia’s data reveals that companies of all sizes elected to get an early payment. Kathleen Nugent, Head of Working Capital Management at Taulia, said: "The single largest invoice accelerated was $11million by an engine manufacturer, and the smallest, just $12 by a locksmith. Regardless of company size or industry, cash continues to matter".