Raistone and Quartix partner to provide digital cash flow opportunities
By Edlyn Cardoza
Raistone announced it has entered a new supply chain finance partnership with Quartix to provide digital cash flow opportunities to mid-market companies that have long been deprived of adequate innovative funding solutions from banks and legacy financial institutions.
“With inflation skyrocketing and interest rates following in lockstep, it’s more important than ever for businesses to improve efficiency and reduce waste, including on their balance sheet,” said Dave Skirzenski, CEO of Raistone. “We at Raistone are proud to align with Quartix to help mid-market companies unlock the potential of their payables, at a time when those businesses need it most.”
Quartix and Raistone have partnered to combine financial technology and efficient capital to offer new financial tools to mid-market manufacturing and distribution clients, enabling them to access cash and support their supply chain amid a turbulent economic environment. By leveraging supply chain finance programs made possible through Raistone and its network of investors, clients using the Quartix trade-finance platform have unparalleled access to non-debt capital solutions that were previously only available to Fortune 1000 giants.
Supply chain finance enables companies to retain cash on hand for longer periods by extending payment terms with vendors without adverse effects on their supply chain. By using this established solution, companies can lower their cash conversion cycle and unlock cash from their supply chain to improve their financial position to hire new personnel, buy more products, expand their business, make acquisitions, and much more.
“The great majority of US financial institutions cannot offer supply chain finance to their mid-market clients due to the need for specialized technology and operational capabilities”, said Dror Polak, CEO of Quartix. “By partnering with Raistone we can help unlock the benefits of supply chain finance to more and more mid-market manufacturers and distributors with credit facilities that we expect to reach $20 million and beyond.”
IBSi Daily News Analysis
February 23, 2024
Digital Cash Flow Opportunities
Regulated firms battle surge in financial crime attempts, research revealsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage