Deutsche Bank AG has elevated its focus on fintech, announcing a new investment in the Frankfurt-based fintech Traxpay GmbH.
By investing in Traxpay, Deutsche Bank is using the fintech’s platform technology to expand its supply chain finance offering. Traxpay offers its corporate clients dynamic discounting and reverse factoring solutions to enable them to manage their cash flows flexibly.
Daniel Schmand, Global Head Trade Finance and Lending at Deutsche Bank commented: “The current crisis acts like a catalyst to the market. Numerous companies are reviewing their strategic relations with their suppliers and are identifying substantial potential in terms of financing.
“Recent developments we’ve seen as a result of COVID-19 show how important liquidity is for our clients. With Traxpay we have an experienced partner with a good track record. We can work with them to offer our clients further solutions in this area.”
The move enhances Traxpay’s ambitions of a leading role within the European fintech sector, with Deutsche Bank’s backing acting as a significant affirmation of the firm’s offering.
Traxpay founder and CEO Markus Rupprecht added: “With Deutsche Bank, we have gained a strategic investor with a leading role in supply chain financing across the globe. Using a single platform means greater transparency and more efficiency for our clients, suppliers and our financing partners.”
