Traxpay closes $15 million series B led by Commerzbank’s main incubator and Software AG

Traxpay, a Frankfurt am Main, Germany-based company operating a platform for businesses in a supply chain to make payments to each otherannounced that it has raised $15 million.

The money was provided by a group ov investos led by Commerzbank’s main incubator and Software AG, and including contributions from existing investors Earlybird and Michael Phillips of Castik Capital. Holger Werner from Commerzbank is joining Traxpay’s board along with the funding round, along with Frederic Hanika, SVP of M&A and Corporate Ventures for Software AG.

Traxpay, founded in 2009 and led by CEO John Bruggeman, built a real-time payment platform connecting businesses' AR and AP payments, while it integrates directly into existing financial workflows and corporate processes. The platform acts as an one consolidated view, enabling businesses to connect, interact and transact in new ways and to facilitate B2B transactions significantly.