(Adds details, CEO quote)
March 10 (Reuters) - U.S. fintech firm Taulia, a technology partner of supply chain finance specialist Greensill, said on Wednesday it had secured more than $6 billion in funding from a financing consortium led by JPMorgan.
The consortium will include European lenders UniCredit , UBS and BBVA, Taulia said in a statement.
Greensill Capital filed for insolvency on Monday after losing insurance coverage for its debt repackaging business and said in its court filing that its largest client, GFG Alliance, had started to default on its debts.
JPMorgan, an investor and strategic partner of Taulia, provided $3.8 billion of a credit facility worth more than $6 billion, a source familiar with the matter told Reuters.
Taulia works with financial institutions to allow suppliers that use its platform to receive early payments on their delivered goods and services. Taulia said the credit facility would provide its clients that formerly relied on Greensill funding continued access to liquidity
“Taulia’s priority, first and foremost, has been to enable businesses both large and small to unlock liquidity trapped in their supply chain in order to invest, operate and thrive,” Taulia Chief Executive Officer Cedric Bru said in the statement.
“In the current environment, with the potential loss of a funder, our commitment to providing choice has become even more paramount.” (Reporting by Pamela Barbaglia and Noor Zainab Hussain; Editing by Shinjini Ganguli and Cynthia Osterman)