Quartix, a Charlotte, NC-based fintech firm dedicated to bringing Supply Chain Finance (SCF) solutions to mid-market industrial clients, raised additional $15M in funding.
The round, which brought the total amount to $50M, was led by SR Alternative Credit.
The company intends to use the funds to meet demand for its solutions, especially during cash flow challenges and supply chain disruptions.
Led by CEO Dror Polak, Quartix provides a SaaS platform that empowers mid-sized ‘buyers’ (with annual sales between $25 million and $1 billion) and their chosen vendors to manage payments and collections beyond standard terms. Leveraging the buyer’s creditworthiness, it offers financing options to suppliers, facilitating negotiations for extended payables without vendor friction.
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.”
The company has offices in Ramat Gan, Israel.
FinSMEs
01/12/2023