Munich, April 27, 2022: CRX Markets, Europe's leading independent marketplace for working capital finance, today announces a partnership with EcoVadis, the global provider of evidence-based sustainability ratings for value chains.
The partnership aims at seamlessly integrating EcoVadis ratings into the CRX Marketplace, enabling financing partners to assess corporate sustainability in a fact-based manner and offer appropriate financing rates.
Founded in 2012 and transacting €1.5 billion in monthly financing volume in 60+ countries, CRX Markets now offers its clients the possibility to enrich invoice level data on CRX Marketplace with relevant ESG ratings and data. In April 2020, the Munich-based fintech successfully launched the first Sustainable Supply Chain Finance (SSCF) transaction in the DACH region together with Nestlé. To date, CRX Markets has already arranged close to half a billion USD in financing under this program. With the EcoVadis collaboration, CRX Markets is now further enhancing its SSCF product suite and leveraging its early mover advantage.
Frank H. Lutz, CEO of CRX Markets, comments: "We see a high demand from companies to map ESG criteria also in working capital finance. This is not just a trend but will become an integral part of any corporate financing. On the CRX Marketplace, companies can access or upload ESG certifications, ESG ratings or KPIs developed in-house, thus creating transparency for financing partners. The demand from our existing clients as well as potential new clients is immense.
"There is also growing interest on the financing partner side to cluster and measure transactions on the CRX Marketplace based on ratings, certifications or proprietary models and offer financing terms based on these," adds Alexei Zabudkin, CFO of CRX Markets. "Those who want to secure broad access to liquidity at attractive terms in the future will not be able to avoid introducing and continuously expanding ESG components in their financing arrangements."
“EcoVadis and CRX Markets both see the giant opportunity at the intersection of global commerce and finance to empower business value chains as a force for good,” says David McClintock, Communications and Marketing Director from EcoVadis. “By combining our Sustainability Ratings with CRX Markets Platform, together we can deliver the integration and automation required to bring powerful financial incentives for companies to improve their sustainability performance, and drive positive impact at global scale.”
EcoVadis is the world’s most trusted provider of business sustainability ratings. Global supply chains, financial institutions and public organizations rely on EcoVadis to monitor and improve the sustainability performance of their business and trading partners. Backed by a powerful technology platform, EcoVadis’ evidence-based ratings are validated by a global team of experts, and are adapted to more than 200 industry categories, 160 countries, and companies of all sizes. Its actionable scorecards provide benchmarks, insights, and a guided improvement journey for environmental, social and ethical practices. Industry leaders such as Amazon, Johnson & Johnson, L’Oréal, Unilever, LVMH, Salesforce, Bridgestone, BASF, and ING Group are among the 90,000 businesses that collaborate with EcoVadis to drive resilience, sustainable growth and positive impact worldwide. Learn more on ecovadis.com, Twitter or LinkedIn.
About CRX Markets
CRX Markets is Europe’s leading independent marketplace for working capital finance. By financing receivables and payables, corporates can optimize their cash flow through our global marketplace. They can draw on a diversified liquidity pool across all our products. Our focus today is working capital finance for mid to large cap businesses operating on a global scale. Based in Munich, Germany, CRX Markets was founded in 2012. Today, our team of 75 international professionals drives the on-going development of the global marketplace and the onboarding of additional clients and financing partners. The CRX Platform currently transacts a monthly financing volume of €1.5 billion in more than 60 countries. www.crxmarkets.com
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