Greensill tech partner Taulia secures $6 billion funding from JPM-led consortium

The consortium will include European lenders UniCredit, UBS and BBVA, Taulia said in a statement. Greensill Capital filed for insolvency on Monday after losing insurance coverage for its debt repackaging business and said in its court filing that its largest client, GFG Alliance, had started to default on its debts. Taulia works with financial institutions to allow suppliers that use its platform to receive early payments on their delivered goods and services. Taulia said the credit facility would provide its clients that formerly relied on Greensill funding continued access to liquidity “Taulia’s priority, first and foremost, has been to enable businesses both large and small to unlock liquidity trapped in their supply chain in order to invest, operate and thrive,” Taulia Chief Executive Officer Cedric Bru said in the statement. “In the current environment, with the potential loss of a funder, our commitment to providing choice has become even more paramount.”