Traxpay marks breaktrough first year of operations, and expands to handle rapid growth

Traxpay, pioneer in business-to-business (B2B) real-time financial transactions, today completed its first year of operations with significant growth and strong momentum. Over the past twelve months, the company secured capital investment, hired recognized industry experts to lead the company, and filed numerous patents internationally. In additional to launching new product applications, Traxpay has announced multiple customer adoptions and, most recently, the opening of offices in Frankfurt, Germany's financial hub, to accommodate its growth.

Traxpay offers the world's first and only cloud-based B2B financial transactions platform that combines real-time, 24/7 transaction execution and settlement, with full data attachment capabilities, and an integrated communication and collaboration channel to enable companies to conduct business directly and achieve fast reconciliation. With all transactions handled across its trusted bank-grade data center and all funds protected by the German Central Bank, Traxpay provides the ultimate in safety and security for B2B commerce. Customers benefit not only through safe and secure real-time, anytime, anywhere transactions, but are also able to generate new revenue streams, accelerate cash flow, and protect against payment fraud and losses.

For B2B digital marketplaces powered by Traxpay this translates to fast and safe online checkouts, trusted trade for online communities, and support for the unique business data requirements and multi-level approval flows typical for B2B transactions.

For traditional B2B networks and supply chains this means better control, predictability, and efficiency of cash flows, liquidity, and working capital, and faster access and better insights into their global cash position.

With a strong vote of confidence from investors, significant new customer adoption, millions of euros of transactions across its platform, multiple international patents pending, new products, the grand opening of its new offices in Frankfurt, Germany, and more, the company has far exceeded goals for growth set just one year ago.

Traxpay Milestones

• April, 2013 - Growth leads to the opening of Traxpay's office in Frankfurt, Germany's financial hub
• March, 2013 - Hiroyiki Sato, CEO of NTT DoCoMo Deutschland, joins Traxpay's Board of Directors
• February, 2013 - International Patent filed, Patent Pending Status for the Traxpay Conditional Payment Solution
• February, 2013 - Traxpay nominated for Best B2B Payments Innovation Award for 2013
• February, 2013 - Products Launched: Traxpay B2B Payments Professional and Enterprise Editions
• January, 2013 - B2B/B2C payments expert, hired from PayPal, joins Traxpay as Director of Product Management
• November, 2012 - B2B E-Commerce Sites Restposten.de and Debitos implement Traxpay to enable 30,000 business partners to streamline their financial transactions
• November, 2012 - International Patent filed, Patent Pending Status for the Traxpay Platform and Technology
• August, 2012 - Enterprise software executive from Cadence hired as SVP Product Management and Marketing
• July, 2012 - B2B payments expert, hired from Accenture, joins Traxpay as CTO to lead global development
• July, 2012 - Traxpay forms Corporate Banking Advisory Board to advance B2B Payment Process
• June, 2012 - Traxpay raises $4 Million in capital from Earlybird Venture Capital
• May, 2012 - John Bruggeman joins Traxpay as Chief Executive Officer

"We've seen enormous market demand for innovation in the area of B2B payments, both for traditional supply chains and distribution networks, as well as for companies transitioning their business online," said Traxpay CEO, John Bruggeman. "Traxpay provides an ideal solution to companies in the $7 trillion B2B e-commerce market where 70% of businesses are already investing heavily, and are seeking a platform for faster, safer, smarter trade which also provides the unique functionality required for B2B transactions. While this past year has topped all expectations, our customers and stakeholders will see us accelerate even more in the coming year."