Athens, 9 November 2021
QUALCO acquired 100% share capital of «TensorFin Single Member SA» and «Daedalus Technologies FZE» that operate in the Supply Chain Finance sector and provide complete technology-enabled solutions, through combining niche software development with consulting services provision and covering the entire spectrum of invoice financing models and receivables from Banks and Financial institutions.
The companies are operating in EMEA and have been established following the split-off of Neurosoft’s ‘Fintech & Analytics’ business unit.
QUALCO will integrate the entire scope of the aforementioned business and operational aspects into its FinTech business unit.
In this context, QUALCO will incorporate both ‘Proxima+’ platform, including Proxima Backoffice, Tesla Radius, Ergodicity, and self-on boarding modules, as well as Confirm platform, which is based on Open Blockchain (Hyperledger fabric) technology, into its ecosystem. The combination of these platforms will cover the entire Supply Chain Finance unit, offering competitive solutions and substantial benefits to the specific market.
“In a financial landscape being in flux and given the immense need for liquidity, businesses seek innovative technological potential.” said Mr. Spyros Retzekas, Managing Director at QUALCO. “Through the inclusion of Proxima+ and Confirm platforms in our portfolio, we will be able to provide our clients with complete solutions within the entire credit management field internationally, based on leading products of powerful technological background and deep knowledge of best business practices, combined with AI and Advanced Analytics capabilities.”
“Τhis agreement comes as a testament of both companies’ diligence on a common goal; achieving business excellence, based on the best interest of clients, employees, and shareholders. We are confident that the Fintech Business Unit that was part of Neurosoft’s product offering for more than 20 years, will be smoothly and efficiently integrated within QUALCO’s existing portfolio, completing its solutions’ ecosystem, and contributing to the overall technological advancements. We wish every success in this new era!”, stated Mr. Nontas Paschalidis, CEO at Neurosoft.
“I’m certain that this business milestone will define Tensorfin’s upgrowth, while bringing about multiple benefits to all partners involved. With a vast experience in the Supply Chain Finance field and profound knowledge of Factoring processes and systems, Tensorfin’s highly skilled software experts, supervise 25 installations in 3 continents, while implementing state-of-the-art methodologies. The team’s integration into QUALCO’s well-established operational framework is fully aligned with both parts’ strategy, and I feel confident that this will lead to an exceptional and fruitful joint venture.”, said Mr. Nikolaos Vasilonikolidakis, CEO at Tensorfin.