Taulia, a US-based cloud payment software developer backed by telecommunications company Telus, has raised $15m in series E funding from private equity fund manager Zouk Capital on Wednesday.
Taulia provides cloud-based invoicing technology to companies to pay suppliers, who can choose an accelerated, secure payment in return for a 10% fee which Taulia splits with its corporate clients.
The company closed a $40m series D round in September 2014 backed by BBVA Ventures, the corporate venturing unit of financial services firm BBVA, QuestMark Partners, Trinity Ventures, Matrix Partners, Lakestar, DAG Ventures and EDBI, the investment arm of Singapore’s Economic Development Board.
Telus invested in Taulia’s $18m series C round in 2013, which included participation from Matrix, Trinity, Lakestar and DAG. It also raised $17.7m across three earlier rounds from 2010 to 2012.
Bertram Meyer, chief executive of Taulia, said: “We received an overwhelming amount of interest from investors during the past several months, and believe this additional funding will fuel Taulia’s market traction and global presence as we continue to help organisations change the way they pay their small business suppliers.”