Traxpay offers a single platform that automates B2B payment workflows and related services (financing, dynamic discounting, modeling, accounting) to reduce manual special handling between trading partners. The product targets complex B2B transactions across supply chains and aims to deliver flexibility and cost savings through automation. Traxpay has been primarily active in Europe but is using partnerships and new funding to expand globally. The company has struck a four-year strategic partnership with MasterCard to access its global payment network (150 countries, 22,000 banks) to run Traxpay’s platform across that rail system. Management plans to enter the U.S. and Asia by early next year. Traxpay reports customer numbers in the “hundreds,” is not yet profitable, and is not disclosing revenue. Traxpay is a German payments startup focused on B2B online payments with the stated ambition to become the PayPal of B2B. It offers a cloud-based platform that provides full transparency on fund transfers, stores funds in separate bank accounts for each company, and enables real-time payments with instant access for recipients. The service was developed in partnership with Accenture, SAP and NTT Docomo, supporting scalability, robust infrastructure, and integration with common accounting software. Traxpay sells to the global-3,000 and cites EOS as an example customer. The company cites a roughly $250 billion annual opportunity in online B2B payments based on 2010 Boston Consulting figures. Traxpay appointed John Bruggeman as CEO and plans to use new funding to continue building its business in Europe and begin expansion to the U.S. later this year. Competitors noted in the article include e-invoicing firms such as Taulia and credit card companies that process business payments through banks.

Total raised

$19M

Funding rounds

2

Latest round

Series B

Latest activity

Sep 2014