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Supply chain finance (SCF) and technology company Esker has taken an equity stake in its partner LSQ, a capital finance and payments company.
The first phase of the investment consists of a $5 million promissory note, an announcement from Esker announced on Wednesday (April 20).
The announcement adds that Esker issued the memo “to strengthen the partnership between LSQ and Esker and accelerate the development and commercial expansion of their joint supply chain finance solutions.”
Additionally, the statement continued, “the partners have agreed to potentially increase Esker’s financial involvement in LSQ based on the development of their joint business.”
Supply chain finance is increasingly important, according to the announcement, and “the ability to optimize cash flow and working capital management across business ecosystems will become a truly strategic objective. “.
See also: Esker’s new B2B payments platform aims to improve cash flow management
Esker and LSQ officially started working together in December 2021. A first benefit for Esker customers, according to the company, will be the possibility of benefiting from LSQ Fastrack, a financing and discounting platform.
“The equity investment will be used to expand the team’s operations and our commitment to Esker Pay in the area of supply chain finance,” said Steve Smith, US chief operating officer at Esker, in a statement. press release prepared. “Esker Pay is central to our growth initiatives for 2022 and beyond.
Esker said it processes transactions valued at more than $400 billion each year.
“We believe in the opportunity in the SCF space and want to take advantage of it from an operational and capitalistic point of view,” said Jean-Michel Bérard, chief executive of Esker, in a prepared statement.
Esker is headquartered in Lyon, France, and LSQ in Orlando, Florida.
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