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Fintech Innovator Quartix Secures an additional $15 Million in Funding to Revolutionize Supply Chain Finance

Fintech Leader Expands Support for Mid-Size Industrial Companies with a new credit line that can scale up to $50M

CHARLOTTE, N.C., Nov. 30, 2023 (GLOBE NEWSWIRE) -- Quartix, the fintech firm dedicated to bringing Supply Chain Finance (SCF) solutions to mid-market industrial clients, is thrilled to announce the successful funding round and a new credit facility that can scale up to $50M. Leading the investment is SR Alternative Credit (SRAC), a US-based private credit manager. This significant investment furthers Quartix's mission to provide advanced specialty-finance products, typically reserved for Fortune 1000 corporations, to mid-sized businesses, enabling them to extend payment terms with vendors.

Quartix's SaaS platform empowers mid-sized 'buyers' (with annual sales between $25 million and $1 billion) and their chosen vendors to manage payments and collections beyond standard terms. Leveraging the buyer's creditworthiness, Quartix offers appealing financing options to suppliers, facilitating negotiations for extended payables without vendor friction. This funding equips Quartix to meet growing demand for these solutions, especially during cash flow challenges and supply chain disruptions.

Dror Polak, CEO of Quartix, explains, "Mid-market clients experience evolving cash flow needs. Traditional banking products fall short, and advanced solutions were previously limited to Fortune 1000 firms. Quartix provides mid-market buyers with advanced digital working capital products. Our digital platform, fueled by real-time payable data, complements traditional bank credit lines, providing CFOs and treasurers with digital tools for effective cash flow management and supply chain capital optimization."

Polak also addresses a common mid-market challenge: "In today's environment, corporate-sized companies extend payment terms with suppliers, often affecting mid-market suppliers. These mid-market suppliers, in turn, aim for longer payables with their suppliers, leading to vendor friction and relationship risks. With this funding, we can better assist mid-market companies in optimizing payment terms with suppliers without straining business relations."

Peter Faigl, Chief Investment Officer of SRAC, shares his perspective: "Quartix's success reflects the growing demand for on-demand credit tailored to real-time trade events in the middle-market segment. Their strong credit portfolio performance demonstrates the team's ability to seize these opportunities. With their data and scale advantages, we're excited to support Quartix's growth."

About Quartix
Founded in 2017 and based in Charlotte, NC with offices in Ramat Gan, Israel, Quartix’s (www.GoQuartix.com) SaaS cloud connects middle-market buyers, their vendors, and institutional investors, allowing buyers and vendors to pay or collect invoices whenever they want, regardless of payment terms.

Contact:
Noam Mani
718-218-5816
noam.mani@goquartix.com 

About SRAC
SR Alternative Credit is an alternative asset manager focused on asset-based lending transactions with small- and medium-sized businesses. Operating at the crossroads of investors seeking attractive risk-adjusted yields and emerging companies, SR Alternative Credit provides capital for expansion, acquisitions or growth. For more information, visit www.sraltcredit.us.

Contact:
Peter Faigl
203-656-4395
pfaigl@spoutingrock.us 


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