Quartix, a Charlotte, NC-based fintech company dedicated to bringing Supply Chain Finance (SCF) solutions to mid-market industrial clients, has secured $15 million in funding and a new credit facility that can scale up to $50M.
SaaS Investors
The round was led by SR Alternative Credit (SRAC), a U.S.-based private credit manager.
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.
Quartix Use of Funds
The investment will enable Quartix to expand its services and meet the increasing demand for SCF solutions, particularly during cash flow challenges and supply chain disruptions.
About Quartix
Founded in 2017, Quartix is a vendor finance solution that uses real-time data and institutional capital to free up cash. Quartix’s 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. The platform leverages the buyer's creditworthiness to offer attractive financing options to suppliers, facilitating negotiations for extended payables without vendor friction. The company is based in Charlotte, NC with offices in Ramat Gan, Israel.
Funding Details
Company: Quartix Finance, Inc.
Raised: $15.0M
Round: Unknown
Funding Month: November 2023
Lead Investors: SR Alternative Credit (SRAC)
Additional Investors:
Company Website: https://www.goquartix.com/
Software Category: Vendor Finance Solutions
Source: https://www.globenewswire.com/news-release/2023/11/30/2788933/0/en/Fintech-Innovator-Quartix-Secures-an-additional-15-Million-in-Funding-to-Revolutionize-Supply-Chain-Finance.html