Traxpay, Landgard and NORD/LB expand cooperation with Digital Guarantees

"With Traxpay’s dynamic financing platform, our suppliers have had the opportunity for several months to accelerate the payment of their outstanding invoices to improve their liquidity. In order to reduce non-payment risks, suppliers today often secure their receivables with trade credit insurance. This usually covers a full year or is only available to a limited extent. In addition, there is often a considerable delay in making a claim. With Digital Guarantees we have created together with Traxpay in cooperation with our house banks the possibility to offer suppliers a customized, secure and cost-effective alternative. The guarantee amount is paid out on first demand without deductions. In this way, we offer them yet another opportunity to increase transparency along the entire value chain and to digitize processes," explains Michael Maas, Head of Finance and Accounting at Landgard.

"We see Digital Guarantees as a flexible and strategic financial instrument, the value of which comes into its own especially in the current economic situation in view of disrupted supply chains and limited availability of goods. We are thus making an important contribution to ensuring business relationships and security of supply in an increasingly complex and difficult market environment," adds Carsten Bönig, Member of the Board of Landgard eG.

"During the crisis, companies relied on their house banks and they delivered. However, since then, companies‘ expectations of their house banks‘ expertise have increased. We are happy to have found a sparring partner in Traxpay that develops innovative digital products in a unique way that improves transparency, security and business relationships in the long term," said Bernd Ullrich, Head of Corporate Customers at NORD/LB.

"In line with the motto ‚Achieving more together‘, Landgard offers a win-win situation with Digital Guarantees via the Traxpay platform. On the one hand, suppliers can flexibly and cost-effectively obtain an easily accessible alternative to traditional credit insurance. On the other hand, the suppliers not only support the dynamic growth of Landgard eG, but can also support their own growth at Landgard more easily and cost-effectively through the guarantees. Landgard suppliers thus gain access to cost-effective financing and hedging options – all on a single platform and with just a few mouse clicks," explains Markus Rupprecht, CEO of Traxpay.

More Information:

https://www.traxpay.com/ueber-uns/news/landgard-traxpay-launch-new-dynamic-discounting-program/?lang=en

About NORD/LB:

NORD/LB Norddeutsche Landesbank is one of the leading German commercial banks. The core business segments include business with corporate customers, private and commercial customers including private banking as well as special finance in the energy and infrastructure sector, aircraft finance and commercial real estate finance. The bank is headquartered in Hanover, Brunswick and Magdeburg and has branches in Bremen, Oldenburg, Hamburg, Schwerin, Düsseldorf and Munich. Outside Germany NORD/LB is represented by a Pfandbrief Bank (NORD/LB Covered Bond Bank) in Luxembourg and branches in London, New York and Singapore.

About Landgard:

Landgard, based in Straelen-Herongen, is a sustainable, successful marketing cooperative owned 100 percent by growers. With over 3,000 member companies, Landgard is one of Europe’s largest marketing organizations for flowers and plants as well as fruit and vegetables, and generates annual sales of over 2 billion euros. Around 3,000 people are employed in the Landgard Group’s divisions and subsidiaries. Under its own brand, Landgard operates 32 cash & carry stores in and outside Germany, supplies large organized retail customers from DIY chains to food retailers to discount stores, garden centers and specialist retailers with its own fresh produce logistics, and operates the only auction for potted and flowering plants and cut flowers in Germany.

About Traxpay:

Traxpay is a fast-growing Supply Chain Finance platform that operates globally from Europe with a multi-bank approach. With the mission to become the "Platform of Choice" for buyers, suppliers and banks, Traxpay enables companies to manage their working capital in a simple, secure and sustainable way using all standard Supply Chain Finance tools.

Established financial institutions such as Deutsche Bank, Nord/LB, LBBW, KfW IPEX-Bank or Raiffeisen Bank International trust Traxpay’s financing solution and maintain strategic partnerships with the company. Through a new Sustainable Supply Chain Finance program, platform users can financially incentivize the sustainability of their supply chains