Munich Re has partnered with e-invoicing solutions provider, Unifiedpost Group, to provide invoice financing to the users of Unifiedpost’s SME platform Banqup.
The strategic partnership, acting through Ireland-based Talaria One DAC, will co-create a functionality-integrated platform that allows users to get their outstanding invoices paid immediately, unlocking liquidity for SMEs.
The first launch will be done in Germany, with the ambition to expand the functionality to multiple countries Unifiedpost is operating in by combining its technology and customer base with Munich Re’s insurance expertise and financial capacity.
Unifiedpost and Talaria One DAC signed the cooperation agreement on 24 January 2023 and plan to kick off the integration in the second quarter of 2023.
Hans Leybaert, CEO and founder of Unifiedpost, commented on the partnership, “This kind of invoice-to-cash solutions are often not accessible for SMEs, however the latter do experience working capital constraints even more than mid and large enterprises.
“We are proud to close this partnership with Talaria One DAC. Our strengths and common values complement each other and form the basis for successful cooperation.”
Andreas Moser, Head of Embedded Trade Finance Solutions at Munich Re, added, “Considering these challenging times, small and medium-sized businesses currently demand flexible financing solutions and financial security.
“Our invoice-to-cash solution does both by increasing liquidity and protecting businesses against non-payment of invoices. We believe that the most user-friendly way to offer such a solution is embedding it into existing platforms used by small and medium-sized businesses.
“Today, Unifiedpost already connects a very large number of small and medium-sized businesses all over Europe with their clients and suppliers. Therefore it is an ideal partner for the seamless integration of our invoice-to-cash solution.”