LiquidX Expands Strategic Relationship with Broadridge, Announces Multi-Year Investment
NEW YORK, Nov. 02, 2020 (GLOBE NEWSWIRE) -- LiquidX, the global network for working capital, trade finance and insurance, has secured a multi-year investment with Broadridge Financial Solutions, Inc. (NYSE: BR), a global Fintech leader. This enhanced relationship will make Broadridge LiquidX’s largest investor, supporting its continued growth over the next several years. Broadridge also provides LiquidX with strategic operational services for payment processing, account reconciliation, back-up services and global operational scalability. LiquidX and Broadridge will also continue to collaborate on additional strategic opportunities in line with LiquidX’s strategy of providing a holistic set of trade finance and working capital solutions.
“Broadridge and LiquidX have a long-standing relationship and we are very excited to announce the expansion of our collaboration,” said Jim Toffey, CEO of LiquidX. “Broadridge plays a critical role in helping clients transform their businesses by enabling them to optimize efficiency, navigate risk and generate growth. Broadridge’s reliable scalable technology and data solutions help companies solve complex problems and achieve their goals.”
“Broadridge strongly believes in the strategic direction and value proposition of LiquidX and we are excited to extend our strategic and financial relationship,” noted Chris Perry, President of Broadridge. “As a Broadridge-backed company, LiquidX will be able to leverage Broadridge’s size, scalability and resiliency and our continued investment in innovation to better help its customers with its advanced technology offerings like InBlock and LiquidX 360.”
Product Pipeline
In May, LiquidX launched its next-generation LiquidX 360, a single holistic platform, combining transaction capabilities in accounts receivable, supply chain finance, and trade credit insurance.
In June, LiquidX initiated its LiquidX Partner Program (LPP) to provide white-label technology solutions to trade finance banks. LLP offers a complete turnkey technological, legal, and operational infrastructure.
In August, LiquidX launched InBlock, a digital asset servicing platform, which ingests and digitizes corporate assets, such as invoices and purchase orders, linking relevant parties via custom workflows for updating, modifying, servicing and analyzing these assets. The InBlock platform offers order management, invoice Management, reconciliation and cash forecasting, empowering the corporate treasurer with automation and industry-leading analytics into the lifecycle of the corporate assets.
Regarding its new products pipeline, LiquidX plans to roll out products addressing secondary distribution and a Position and Risk Monitor (PaRM) in the next two quarters.
About InBlock:
InBlock is a digital asset servicing platform for corporations, banks, and insurance companies. InBlock empowers the Corporate Treasurer with a holistic solution designed to support all corporate assets including Invoices and Purchase Orders. InBlock offers Order Management, Invoice Management, Reconciliation and Cash Forecasting in one integrated solution. To learn more about the InBlock advantage, please visit www.inblock.com.
About LiquidXLiquidX is a leading global technology company which enables corporate finance professionals to transact faster, smarter and cheaper by digitizing their trade finance and working capital management. Headquartered in New York with offices in Boston, London, and Singapore, LiquidX delivers the industry-leading ecosystem for working capital assets to its diverse network of global participants including multinational corporations, banks, institutional investors, and insurance providers. LiquidX incorporates blockchain technology and machine learning analytics to greatly enhance transparency, reporting, and forecasting for financial professionals. To learn more about our industry leading solutions please visit www.liquidx.com
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