CRX Markets Partners with EcoVadis to Integrate ESG Ratings Across Corporate Financing Offers

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CRX Markets today announces a partnership with EcoVadis.

The partnership aims at seamlessly integrating EcoVadis ratings into the CRX Marketplace, enabling financing partners to assess corporate sustainability in a fact-based manner and offer appropriate financing rates.

Founded in 2012 and transacting €1.5 billion in monthly financing volume in 60+ countries, CRX Markets now offers its clients the possibility to enrich invoice level data on CRX Marketplace with relevant ESG ratings and data. In April 2020, the Munich-based fintech successfully launched the first Sustainable Supply Chain Finance (SSCF) transaction in the DACH region together with Nestlé. To date, CRX Markets has already arranged close to half a billion USD in financing under this program. With the EcoVadis collaboration, CRX Markets is now further enhancing its SSCF product suite and leveraging its early mover advantage.

Frank H. Lutz, CEO of CRX Markets, comments: “We see a high demand from companies to map ESG criteria also in working capital finance. This is not just a trend but will become an integral part of any corporate financing. On the CRX Marketplace, companies can access or upload ESG certifications, ESG ratings or KPIs developed in-house, thus creating transparency for financing partners. The demand from our existing clients as well as potential new clients is immense.”

“There is also growing interest on the financing partner side to cluster and measure transactions on the CRX Marketplace based on ratings, certifications or proprietary models and offer financing terms based on these,” adds Alexei Zabudkin, CFO of CRX Markets. “Those who want to secure broad access to liquidity at attractive terms in the future will not be able to avoid introducing and continuously expanding ESG components in their financing arrangements.”

“EcoVadis and CRX Markets both see the giant opportunity at the intersection of global commerce and finance to empower business value chains as a force for good,” says David McClintock, Communications and Marketing Director from EcoVadis. “By combining our Sustainability Ratings with CRX Markets Platform, together we can deliver the integration and automation required to bring powerful financial incentives for companies to improve their sustainability performance, and drive positive impact at global scale.”