Traxpay, the leader in B2B Dynamic Payments, today announced it has closed $15 Million in series B funding. This oversubscribed round was led by main incubator, corporate incubator of Commerzbank and Software AG.
As it is well known, Traxpay, headquartered in Frankfurt, Germany, with 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. Its 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.
Apart from main incubator of Commerzbank and Software AG, Earlybird Venture Capital and former senior APAX partner, Michael Phillips of Castik Capital Partners, also participated in the round. 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.
John Bruggeman, CEO of Traxpay said: “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. 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.”