Quartix, a fintech company based in North Carolina, secures an additional $15M. Leading the round, which increased the total to $50M, was SR Alternative Credit. The funds will be utilised by the business to meet demand for its solutions, particularly in times of supply chain delays and cash flow difficulties.
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With a SaaS platform that allows mid-sized “buyers” (those with yearly sales between $25 million and $1 billion) and their selected vendors to handle payments and collections beyond typical terms, Quartix, led by CEO Dror Polak, works. It gives suppliers financing options based on the buyer’s creditworthiness, allowing vendor friction-free negotiations for extended payables.
Commenting on the news, Dror Polak said: “Mid-market clients experience evolving cash flow needs. Traditional banking products fall short, and advanced solutions were previously limited to Fortune 1000 firms. Quartix provides mid-market buyers with advanced digital working capital products. Our digital platform, fueled by real-time payable data, complements traditional bank credit lines, providing CFOs and treasurers with digital tools for effective cash flow management and supply chain capital optimization.”
About Quartix
Operating in the US and Canada, Quartix is an alternative lender powered by data and technology. Our objective is to lower the borrowing costs of small and medium-sized suppliers while improving the financial performance of supply chains on the buyer’s end by offering efficient supply chain financing to the long tail of smaller and medium-sized suppliers.
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