Leaders in Banking, FinTech, and Big Data Unite to Revolutionize the Future of Global B2B Commerce
FRANKFURT, Germany & MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–September 23, 2014–
Traxpay, the leader in B2B Dynamic Payments, today announced that it has closed $15 Million in series B funding. This oversubscribed round was led by main incubator, corporate incubator of Commerzbank (XETRA: CBK), and Software AG (XETRA: SOW). Early investors, Earlybird Venture Capital and former senior APAX partner, Michael Phillips of Castik Capital Partners, also participated in the round. As part of this transaction, Holger Werner, EVP and Head of Corporate Banking for Commerzbank and Frederic Hanika, SVP of M&A and Corporate Ventures for Software AG have joined Traxpay’s Board of Directors. In addition to the capital raise, Traxpay also announced it is joining forces with MasterCard (NYSE: MA) to enable a scalable, global solution connecting buyers and suppliers. The funding and collaboration of these industry leaders with Traxpay will accelerate the delivery of technology and solutions that will shape the next big wave of B2B commerce innovation – the convergence of banking, enterprise data, and global trade.
Traxpay’s B2B Dynamic Payments platform is being tapped by numerous Fortune 500 companies to drive the next wave of innovation in the $377 trillion* B2B commerce market – representing the single biggest market segment in the world. Traxpay, with its robust cloud-based runtime and development environment, powerful suite of integrated B2B payment capabilities, and its central gateway to critical value-added financial services, is uniquely positioned to enable this certain future. With unmatched transparency, flexibility, and control over complex B2B transactions, supply chains now have access to powerful new integrated tools, such as supply chain financing, factoring, dynamic discounting, and more that will enable them to better predict and optimize the business in ways never before possible.
“Traxpay is transforming the way that B2B companies collaborate, interact, and transact by connecting and streamlining financial flows, enterprise data, and business logic across our award winning B2B Dynamic Payments platform,” said John Bruggeman, CEO of Traxpay. “Linking arms with global industry leaders in banking, FinTech, and Big Data will help to accelerate our vision, and more importantly, enable our customers to do business in fundamentally new ways. Traxpay will play a critical role in the evolving landscape of B2B commerce and the support of such preeminent investors puts us in a strong position to capitalize on the opportunity and to build one of the decade’s most disruptive companies.”
“Commerzbank is committed to staying at the forefront of innovation, continually offering powerful, new financial solutions that enable global companies to be more competitive and more profitable”, said Holger Werner, Head of Corporate Banking at Commerzbank and Chairman of the Supervisory Board of main incubator. “Traxpay, and its B2B Dynamic Payments platform, is a critical component of our enterprise strategy, and paves the way for a unique suite of commercial products that will revolutionize B2B commerce for all of our clients large and small.”
“With enterprises demanding advanced business insights in real-time, and the ability to analyze and make decisions quickly, we see B2B financial transactions as one of ultimate Big Data opportunities”, said Frederic Hanika, Head of M&A and Corporate Ventures at Software AG. “Traxpay’s ability to combine enterprise data, financial flows, and supply chain interactions in a single cloud-based solution is the Holy Grail, and puts them in a unique position to enable enterprises to not only collaborate more effectively and gain unparalleled insight into their operations, but also to achieve business outcomes faster than ever before.”
“Digital disruption is transforming the banking landscape dramatically. We respond to these changes by supporting visionary and game changing solutions”, said Christian Hoppe, Founder Director and CEO of main incubator, Commerzbank’s corporate incubator. “We are delighted to enable Traxpay to grow within the German and global markets and therewith transform B2B transactions fundamentally.”
Traxpay recently joined forces with MasterCard to enable a scalable, global solution connecting buyers and sellers. Hany Fam, President of MasterCard Enterprise Partnerships, commented: “By combining MasterCard’s global network with the Traxpay Dynamic Payments platform we are able to deliver a seamless commerce experience that is more efficient for companies of all sizes and has the potential to transform the way that companies transact.”
Traxpay B2B Dynamic Payments platform
B2B payments that comprise commercial transactions are characterized as complex, inflexible, non-transparent, data intensive, and costly. Adding to the challenge, 25-30% of all B2B transactions require further special handling or must be re-characterized during the cycle to adapt to new business terms or conditions between trading partners.
The patent-pending Traxpay B2B Dynamic Payments platform uniquely combines secure, flexible, real-time, anytime, anywhere electronic financial transactions with any and all data related to the transaction, whether structured or unstructured. What further sets Traxpay apart is its integration-ready configurable workflow engine that dynamically monitors any changes in the who, what, when, where, why, or how of a transaction, while keeping all related data, business logic, and the payment itself synchronized between all parties. The platform’s flexibility, speed, rich data, and bank-grade security allow Traxpay customers to take advantage of new capabilities that impact their entire supply chain.
The company and its bank-grade SAP-certified platform have been recognized with top industry awards such as the PYMNTS.com Innovation Award 2014, the World Finance Award 2013 and the Financial World Innovation Award 2013.
About Traxpay
Traxpay, and its industry leading B2B Dynamic Payments platform is capable of executing and settling financial transactions and payments with rich data in real-time, anytime, anywhere, and with complete safety and security. Traxpay customers include B2B commerce network operators, digital marketplaces, and corporations who value the security, speed, flexibility, predictability, and savings the platform, and its many features, provide. Traxpay solutions were built to address the needs of modern B2B commerce and accelerate business across the supply chain. The company is privately held and is headquartered in Frankfurt, Germany with operations in Mountain View, California.
For more information, visit Traxpay or follow us on @traxpay.
* Boston Consulting Group’s report “Global Payments 2013″
Traxpay Media Contact:
Sandra Iris Eilenstein
ITPR Information-Travels Public Relations
T. +49 (89) 89 86 87 20
sandra.eilenstein@information-travels.de
A faster, safer, smarter way to do B2B financial transactions. A secure electronic payment method for B2B commerce, Traxpay breaks the barriers to real-time, 24/7 transactions and trusted trade. And by connecting full, rich data with e... read more »