Insurance group Ping An’s Global Voyager Fund has led a $60m funding round for Taulia, a US-based provider of software that helps optimise a company’s working capital.
The round included Prosperity7 Ventures, a venture capital representative of oil and gas supplier Saudi Aramco, as well as investment banking firm JP Morgan and existing backers including private equity fund manager Zouk Capital.
Taulia combines a technology platform with live experts to help small and medium-sized enterprises (SMEs) make their supply chain more efficient in order to maximise their working capital. The company’s CEO, Cedric Bru, told the Wall Street Journal the round valued it at up to $400m.
Donald Lacey, managing director of the China-headquartered Ping An Global Voyager Fund, said: “Providing SMEs access to efficient sources of financing is a topic of incredible importance in today’s economic environment.
“Taulia is at the forefront of supply chain finance technology, with a global footprint that spans over 2 million SME suppliers and a suite of solutions that dramatically improves SMEs’ ability to manage cash. We are excited to partner with Cedric and his team to build out their capabilities in China.”
Zouk Capital had previously led a $46m series E round in 2016 featuring all Taulia’s existing investors to take its total funding to $130m.
Telecommunications firm Telus took part in the company’s $18m series C round in 2013, investing alongside Trinity Ventures, Matrix Partners, Lakestar and DAG Ventures.
Taulia closed its 2014 series D round at $40m after EDBI and BBVA Ventures, a subsidiary of financial services firm BBVA, added $13m to a $27m first tranche featuring Trinity Ventures, Matrix Partners, Lakestar, DAG Ventures and QuestMark Partners.
