Quartix – a fintech firm dedicated to bringing Supply Chain Finance (SCF) solutions to mid-market industrial clients – recently announced a successful funding round and a new credit facility that can scale up to $50 million. Leading the investment is SR Alternative Credit (SRAC), which is a US-based private credit manager.
This significant funding furthers Quartix’s mission to provide advanced specialty-finance products, typically reserved for Fortune 1000 corporations, to mid-sized businesses, enabling them to extend vendor payment terms.
Quartix’s SaaS platform enables mid-sized ‘buyers’ (with annual sales between $25 million and $1 billion) and their chosen vendors to manage payments and collections beyond standard terms. Utilizing the buyer’s creditworthiness, Quartix offers appealing financing options to suppliers, facilitating negotiations for extended payables without vendor friction. This funding will equip Quartix to meet the growing demand for these solutions, especially during cash flow challenges and supply chain disruptions.
KEY QUOTES:
“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.”
“In today’s environment, corporate-sized companies extend payment terms with suppliers, often affecting mid-market suppliers. These mid-market suppliers, in turn, aim for longer payables with their suppliers, leading to vendor friction and relationship risks. With this funding, we can better assist mid-market companies in optimizing payment terms with suppliers without straining business relations.”
— Dror Polak, CEO of Quartix
“Quartix’s success reflects the growing demand for on-demand credit tailored to real-time trade events in the middle-market segment. Their strong credit portfolio performance demonstrates the team’s ability to seize these opportunities. With their data and scale advantages, we’re excited to support Quartix’s growth.”
— Peter Faigl, Chief Investment Officer of SRAC
