STOCKHOLM : SAP said on Thursday it has agreed to buy a majority stake in privately held U.S. fintech firm Taulia as the German business software group seeks to expand its presence across supply-chain financing and working capital loans.
SAP, which provides some of the supply-chain financing through its Ariba brand, said acquisition of Taulia will help the company remove the limited growth rates for its own products. The fintech firm had also secured https://www.reuters.com/article/us-britain-greensill-taulia/greensill-tech-partner-taulia-secures-6-billion-funding-from-jpm-led-consortium-idUSKBN2B22GU a credit facility worth more than $6 billion from JPMorgan last year after its partner for supply-chain financing, Greensill Capital, filed for insolvency.
About two million suppliers use Taulia, resulting in more than $500 billion in annual transaction volume, with 87per cent of the customers running SAP's software.
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