With this in mind, and with a network of strong supporters from Accenture, SAP, and payments industry experts, Traxpay was born.
Operating in stealth mode, and funded by angel investors until early 2012, the Traxpay team conducted a thorough study with some of SAP’s most important customers such as Intel, Colgate, Walmart, Bayer, EOS, and Würth, and formed the initial building blocks of its patent-pending B2B payments platform.
Validating product market fit and seeing the need to scale operations to support demand, the Traxpay team sought backing from the venture capital community. In 2012, the first professional round of financing was executed via Earlybird Venture Capital. The funding enabled Traxpay to continue its momentum with initial customers and to build out the Traxpay platform.
The Traxpay team combines the expertise of leaders from the banking, payments, finance, system integrator, and enterprise software industries in Europe and the United States.
Seeing the need to accelerate progress, and on the heels of a successful two years in the market with its platform, in 2014 Traxpay raised a second professional round of financing that included Germany’s second-largest bank – Commerzbank, Main Incubator, and Software AG, a global leader in enterprise data.
The Traxpay platform offers a secure digital solution on a cloud-based platform, to handle financial transactions in the B2B environment. Traxpay focuses on trade finance and payment products with an optional connection to the Blockchain technology. The Traxpay platform includes automatic exchange of invoice data between business partners and management of payment amounts until the fulfillment of all terms of contract.
On top of that, Traxpay offers flexible financing options for accounts receivables.
Traxpay is a software provider for banks, e-invoicing platforms and B2B marketplaces. Especially for banks, Traxpay solutions help in digitalization efforts for their corporate payments and trade finance products.
The future of B2B commerce requires the convergence of banking, enterprise data, supply chain financing and B2B trade, and the fact that the biggest names in FinTech are linking arms with Traxpay to deliver on that future, is a strong testament to the vision.
As of 2017, Traxpay is transforming the way that businesses connect, interact, and transact with its B2B Payments and trade financing platform. The patent-pending platform uniquely combines secure, flexible, real-time, 24/7/365 transactions with any and all structured and unstructured data related to a transaction.
The company has received numerous industry awards, is privately held, and is headquartered in Frankfurt, Germany, with U.S. offices in Silicon Valley, California.