CHARLOTTE – Charlotte-based fintech company Quartix disclosed today that the firm secured a $20M funding facility from two credit funds. The company issued a statement that noted it could potentially increase the credit facility.
With the funding, the firm anticipates supporting increasing demand from its products.
Dror Polak, CEO of the company, noted in a statement that its “unsecured credit products complement and co-exist with traditional bank credit lines allowing CFOs and treasurers to better plan their cash flow, overcome temporary cash crunches and unlock cash from their supply chain.”
The company’s website reads “Quartix provides out-of-the-box solutions for industrial buyers to pay vendor invoices later and optimize cash by combining technology and institutional capital.”
It was the company’s ability to offer and provide these unsecured, on-demand products, that attracted the company’s latest backers, including John Fox, the CCO of Capital Foundry Funding, the firm that led the most recent funding round.
“By catering to industrial supply chains, Quartix gains data and scale advantages that will enable it to become a Fintech leader in the underserved middle-market segment,” Fox said in a statement.
The firm was started in Israel and participated in the Queen City Fintech accelerator program in 2017.