Taulia, a US fintech company that provides working capital technology solutions, has raised $60 million in a funding round led by the Ping An Global Voyager Fund.

Other entities that took part in the funding round include J.P. Morgan, Prosperity7 Ventures, and existing investors such as Zouk Capital, and others.

Taulia said that the new capital will be used for accelerating its growth with its sights on further expansion across the world.

Cedric Bru – CEO of Taulia said: “It’s a testament to the product-market fit of the Taulia solution that we have garnered the interest and investment from this trifecta of Fortune Global 50 companies. Ping An, J.P. Morgan and Prosperity7 Ventures bring a wealth of knowledge that we will leverage to further solve liquidity needs of businesses and contribute to economic growth.”

Headquartered in San Francisco, California. Taulia, through a combination of its technology platform, people and process, is said to help firms access the value tied up in their supply chain by transitioning from inefficient and often manual working capital management practices into technology-led, working capital streamlining strategies.

The US fintech company, which claims that a network of two million businesses utilizes its technology, processes more than $500 billion every year by employing technology-enabled solutions and innovations such as machine learning, and others.

Donald Lacey – Managing Director and COO of the 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 two 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.”

  California, Cedric Bru, Donald Lacey, Fintech industry news, J.P. Morgan, machine learning, Ping An Global Voyager Fund, Prosperity7 Ventures, San Francisco, Taulia, USA, Zouk Capital