The corporate financing solution developed by CRX was selected by the European company because of the prospect of working capital optimisation and the potential offered by the CRX platform for enhanced cooperation with the suppliers.
The agreed partnership comprises the implementation of an supply chain finance program in Vattenfall’s operations in Germany, including 20 subsidiaries, thereby offering Vattenfall’s suppliers the opportunity to sell their receivables to banks before due date and on attractive terms.
The implementation of the program will initially be accompanied and supported exclusively by Helaba, the company’s principal bank. In addition to Helaba, other banks are intended to join the program as purchasers of receivables at a later stage.
CRX Markets AG said that during the first few weeks, several thousand supplier invoices have already been financed in a flawless and fully automatically manner.
Previously, CRX Markets has successfully won Lufthansa Group as a key partner for its capital markets solution.
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