Deutsche Bank AG has made an announcement. This announcement details how it will invest into Traxpay GmbH, a Frankfurt-based fintech firm. Both companies signed the agreements today.
A New Partnership Made
Through this investment with Traxpay, Deutsche Bank will be using the technology of the fintech platform in order to expand its own supply chain finance offering. Traxpay itself offers reverse factoring and dynamic discount solutions to their corporate clients, which allows them to hold flexible management on their cashflow. Traxpay, based in Frankfurt, has strived to be a leader in Europe’s fintech. Having Deutsche Bank join as an investor stands as part of its goal to achieve this.
With this, other banks are further urged to join as both cooperating partners and investors, all in a bid to expand the platform as a whole. Traxpay has made it clear that its existing cooperations with other banks will be maintained, as well.
The Mandatory Public Statements
Danial Schmand stands as the Global Head of Trade Finance and Lending at Deutsche Bank, and gave a public statement about the matter at large. Schmand stated that the current crisis the world is facing is serving as a catalyst for the global market. As such, an array of companies have gone to review their strategic relations with their suppliers, says Schmand. He explained that these companies are now identifying significant amounts of potential when it comes to financing, as a result.
Markus Rupprecht stands as the founder and CEO of Traxpay, and gave his own public statement, as well. He explained that Traxpay had gained a strategic investor that serves as a leader in supply chain financing worldwide with this Deutsche Bank investment. Even so, Traxpay is still eager to gain more banks as shareholders, trying to entice many companies that are already looking for a reliable platform. Rupprecht explained that the use of a single platform, Traxpay, in this case, would then provide higher levels of efficiency and transparency to financial partners, clients, and suppliers.
More Options For Buyers And Sellers
Both buyers and sellers that leverage Traxpay’s dynamic discounting solution will benefit from flexible payment terms for services and goods. What this means is buyers will be capable of getting a discount depending on when they decide to pay. Retailers and suppliers, in turn, can leverage the Traxpay platform in order to decide whether or not they want to receive a discount in their individual case by settling a payable earlier. Alternatively, they could opt to seek a bank in order to offer them interim financing in the meantime.