SAP software group buys majority stake in American fintech Taulia

SAP software group buys majority stake in American fintech Taulia

While SAP did not disclose the deal price, SAP Chief Executive Officer Christian Klein said the value is less that $1 billion. Taulia had raised more than $200 million from the likes of Trinity Ventures, Questmark Partner and Lakestar.

SAP (SAPG.DE) said on Thursday it has consented to purchase a greater part stake in privately held U.S. fintech firm Taulia as the German business software group looks to grow its essence across supply-chain financing and working capital loans. Taulia works with financial organizations to permit providers that utilization its foundation to get early payments on their conveyed goods and services, and the market has altogether expanded because of the pandemic disturbing supply chains. SAP, which gives a portion of the supply-chain financing through its Ariba brand, said obtaining of Taulia will assist the organization with eliminating the limited development rates for its own items.

The fintech firm had also secured a credit facility worth more than $6 billion from JPMorgan last year after its partner for supply-chain financing, Greensill Capital, filed for insolvency.
SAP said JPMorgan’s relationship with Taulia remains unchanged, and the bank will continue to operate their strategic alliance as well as maintain its equity stake.

About two million suppliers use Taulia, resulting in more than $500 billion in annual transaction volume, with 87% of the customers running SAP’s software.

SAP’s former CEO Léo Apotheker also serves as an independent director at Taulia, and both companies have joint customers such as Airbus, Nissan and AstraZeneca.

Separately, SAP confirmed its preliminary fourth-quarter results were boosted by growth at its cloud business. It forecast 2022 cloud revenue of between 11.55 billion euros ($12.95 billion) and 11.85 billion euros, up from 9.42 billion in 2021.

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