Qualco and Neurosoft have announced the completion of the agreement concerning the acquisition of two Neurosoft subsidiaries by Qualco.
Specifically, Qualco has acquired 100% of the shares of “TensorFin Single Member SA” as well as 100% of “Daedalus Technologies FZE”, which are active in the field of Supply Chain Finance and provide integrated technological solutions, combining the production of specialized software with the provision of consulting services and covering all the established models of financing invoices and receivables from Banks and Financial Institutions.
These companies operate in Greece, Cyprus, the United Arab Emirates, the Middle East, Asia and North Africa, and emerged after the secession of the commercial sector ‘Fintech & Analytics’ of Neurosoft.
Qualco will integrate in its Technology sector all the commercial and operational structures of the above sector
Specifically, Qualco will now have in its quiver the ‘Proxima+‘ platform consisting of the modules Proxima Backoffice, Tesla Radius, Ergodicity and self-on boarding, as well as the Confirm platform which is based on Open Blockchain (Hyperledger fabric) technology.The two platforms combined fully cover the supply chain finance space and offer competitive solutions with incomparable advantages in this market.
“In an ever-changing financial landscape where the need for liquidity is overwhelming, businesses are asking for innovative technological capabilities,” said Spyros Retzekas, Managing Director of Qualco. By adding the Proxima+ and Confirm platforms to our portfolio, we now provide our customers internationally with integrated solutions in the broader field of credit management, based on leading products with a strong technological background and deep knowledge of Business that are combined with AI capabilities and Advanced Αnalytics.“
“The completion of the agreement is the culmination of the commitment of the two companies to a common goal, that of business excellence based on the interest of the customer, the employee and the shareholder. We are confident that the Fintech Business Unit, which has been part of Neurosoft’s product portfolio for over 20 years, will not only be fully and effectively aligned with the rest of Qualco’s products but will be fully and effectively harmonized with the rest of Qualco’s products but will complete its offered solutions and contribute to the consistency of technological innovations to customers. We wish you every success in this new beginning!” said Nontas Paschalidis, CEO of Neurosoft.
“I am confident that today’s business milestone will be decisive for Tensorfin’s evolutionary course and will bring multiplier benefits for all cooperating parties. Tensorfin’s experienced and highly trained software engineers have many years of experience in the supply chain finance industry and deep knowledge of factoring processes and systems supervise 25 facilities spanning 3 continents and apply all modern technological approaches. The integration of the team into the mature operating framework of Qualco is fully harmonized with the strategy and dynamics of the two parties and is sure to lead to a good and fruitful joining of forces,” said Nikolaos Vassilonikolidakis, CEO of TensorFin.