CHARLOTTE, N.C., Jan. 29, 2024 (GLOBE NEWSWIRE) -- Quartix, a prominent provider of digital Supply Chain Finance solutions for middle-market companies and financial institutions, announced today its selection for the Mastercard Start Path Small & Mid-Sized Business program, an award-winning engagement program for high potential fintech innovators shaping the future of commerce. Quartix was handpicked for the program for their promising technologies and future scalability.
Supply Chain Finance (SCF, also known as Reverse-Factoring) is a unique payable-side solution that helps clients stretch payment terms with their vendors without compromising vendor relationships, doing so by providing optional early payments to those vendors. SCF is offered today mainly by the largest banks to Fortune 500 buyers. Smaller banks lack the digital SCF infrastructure required to offer SCF efficiently.
Quartix provides a holistic SCF solution ‘as-a-service’ to banks. It includes a cutting-edge digital SCF platform tailored to the unique needs of middle-market clients, as well as any SCF-related professional services such as integrations to clients’ ERP system. This way, banks can start offering SCF to their existing middle-market clients without investing in technology capex or opex.
As part of the four-month Start Path program, Quartix will have access to hands-on mentoring, collaboration and engagement opportunities with Mastercard’s global network of banks, merchants, partners and digital players to help scale our business.
“Quartix is honored to be selected for the Mastercard Start Path Program,” said Dror Polak, CEO and co-founder of Quartix. “Collaborating with Mastercard supports our goal of democratizing Supply Chain Finance as it will help us improve our value proposition and introduce solution to a broader network of banks”
"As the Fintech landscape continues to evolve at a rapid pace, Mastercard is embracing opportunities to support and collaborate with startups to build the future of Supply Chain Finance innovation through the Start Path startup engagement program," says Sabrina Tharani, SVP of Global Fintech Programs at Mastercard. "Mastercard has selected Quartix to join its ecosystem of innovators and will provide opportunities to access its network of partners, mentorship opportunities and resources to support their scaling journey.”
For more information about Quartix, visit www.goquartix.com.
For more information about Mastercard Start Path, visit https://startpath.mastercard.com/.
Contact:
Noam Mani
718-218-5816
noam.mani@goquartix.com
