Wednesday 23rd July, 2014

Taulia has raised $27 million in Series D funding, to expand its global offering, hiring efforts and offices around the world.

The expansion follows the announcement in October 2012 by Prime Minister David Cameron of his Supply Chain Finance scheme, which underscores the growing need for small businesses to have affordable access to funding.

At the time David Cameron said: "This Government is determined to back all those businesses who aspire to get ahead and take on more people. In the current climate, viable businesses can struggle to get the finance they need to grow - this scheme will not only help them secure finance and support cash flow, but will help secure supply chains for some of our biggest companies and protect thousands of jobs. It can be a win-win, with large companies and small suppliers both benefiting from this innovative scheme" 

It also follows theresearch report by the Credit Management Research Centre published last month that highlighted a £75bn trade credit gap in the UK and showed that there is a compelling need for innovative solutions.

Jon Keating, Managing Director EMEA at Taulia, said: "Some companies have taken steps to work more closely with their largest suppliers, but a healthy supply chain needs all suppliers to be treated the same and for suppliers and buyers to help each other to succeed by working better together. That’s why we’ve joined forces with the ACCA, CIPS and ICM to create the Trade Credit Improvement Consortium as part of our commitment to secure the recovery."