Industry Leaders C2FO and Euler Hermes Americas launch digital partnership to protect business trade via EH Single Invoice Cover

Baltimore, Feb. 20, 2019Euler Hermes Americas, the US-based subsidiary of the Euler Hermes Group, the world’s largest provider of trade credit insurance, and C2FO, the largest working capital market in the world, have announced a strategic partnership to provide C2FO customers access to Single Invoice Cover. This partnership is a concrete illustration of Euler Hermes’ strategy to expand beyond its traditional and oldest business line, trade credit insurance (TCI), into complementary and innovative products that match the transformative needs of today’s business leaders.

Single Invoice Cover was launched in late 2017 by the Euler Hermes Group. It protects B2B companies from non-payment, transaction by transaction, while optimizing end-to-end supply chains by extending the optimal credit terms to buyers. Based on a proprietary API (application program interface), it creates a seamless process for businesses, while facilitating a comprehensive and granular management of credit exposure. Powered by Euler Hermes’ extensive global risk expertise, Single Invoice Cover helps businesses trade safely and secures every deal they make as the need arises.

C2FO empowers suppliers to take control of their cash flow, creating a seamless match between account receivables and payables. This makes it a perfect fit with Euler Hermes, which helps companies grow safely by protecting their receivables from nonpayment risk. Through the partnership, C2FO customers will be able to – in less than two minutes – purchase credit insurance on individual invoices via a digital platform.

“C2FO was started with the mission to unlock working capital for companies around the world,” said Sanjay Gupta, president and COO of C2FO. “Our new partnership with Euler Hermes gives these companies a way to insure the receivables they rely on to grow and expand their business.”

Last year, Allianz X, the digital investment unit of the Allianz Group (the parent company of Euler Hermes), invested $30 million in C2FO. Both Allianz and Euler Hermes will continue to look for strategic opportunities, leveraging each other strengths, to meet the needs of C2FO customers by connecting buyers and suppliers of goods and services with working capital funding needs.

“As a 125-year-old company, we are truly focusing on digital transformation – be it new products, new agile processes, new audiences or new ways to serve our customers,” said James Daly, president and CEO of Euler Hermes Americas. “We want to position ourselves at the forefront of innovation, and we’re proud to partner with C2FO, one of the most cutting-edge companies improving the cash flow of small and medium sized business.”

For more information, please visit https://c2fo.com/company/ or http://www.eulerhermes.us

Euler Hermes Group Hot Paper Lantern
Laura Crovo
+1-410-753-0862
laura.crovo@eulerhermes.com
Kristina Corso
+1-212-931-6189
kcorso@hotpaperlantern.com
Jean-Baptiste Mounier
+33 (0)1 84 11 51 14
jean-baptiste.mounier@eulerhermes.com