Taulia Grows Early Payment Revenue by 126% and Achieves Profitability
SAN FRANCISCO, February 27, 2019 (Newswire.com) - Key 2018 milestones include:
- Businesses globally accelerated $24bn through early payments via Taulia
- Early payments revenue grew by 126%
- Signed new customers across five continents including landmark GBP30m UK Government’s procurement framework contract (Crown Commercial Services), Rio Tinto, Sasol and Telstra
- Taulia became profitable under U.S. GAAP
- Customers benefited from new AI-powered user interface
Market-leading working capital solutions provider Taulia, rounded off a year of spectacular growth marked by numerous high-profile achievements including accelerating $24bn in early payments, doubling from $12bn in 2017, and expanding its network by over 1m to over 5.2m connections globally. The company also announced that it was opening its first Asia Pacific office in Sydney, Australia, with plans to expand the team rapidly during 2019.
This news follows another major milestone in the second half of 2018 when Taulia achieved profitability under U.S. GAAP. Rene Ho, Taulia’s CFO said, “Many VC-backed companies never reach profitability. Now profitable as well as debt-free, Taulia is well capitalized to support our customers and to continue to innovate.”
Meanwhile, the last year has seen Taulia announce partnerships with new customers, including global mining group Rio Tinto, integrated chemicals and energy company Sasol and Australian mobile phone provider Telstra.
In August 2018, Taulia also signed a major £30m framework contract with the UK government’s procurement organization, Crown Commercial Services (CCS). Taulia commenced with the $11 billion Pharmacy Early Payment scheme (PEPS). The agreement also provides early payment solutions to central government, local authorities and the National Health Service (NHS).
Taulia’s success in 2018 was underpinned by the company’s continuing commitment to technological innovation. Using a new AI-powered buyer user interface, customers can access the insights needed to make on-the-spot, real-time decisions, and thereby optimize discount rates and payment terms.
Cedric Bru, CEO of Taulia, said: “We believe a winning mindset is key to success, and this is something that Taulia and our clients continue to demonstrate. In 2019 we will be looking to build on our considerable achievements over the last year and support our customers in freeing up the cash trapped in supply chains globally.”
Note to editors:
Taulia delivers working capital solutions that make it easy for businesses to free up cash, accelerate payments and improve supply chain health.
Since its foundation in 2009, Taulia has envisioned a world where every business can thrive by liberating cash using our state of the art platform. Today our team of financial game changers have built a network connecting 1.6 million businesses across 168 countries and has accelerated more than $90 billion in early payments.
Taulia is headquartered in San Francisco with locations across the United States, Europe and Asia Pacific.
Categories: Business Finance