(Bloomberg) -- Greensill Capital’s talks to sell parts of its operating business to Athene Holding Ltd. were derailed after JPMorgan Chase & Co. extended a $3.8 billion lifeline to a key technology partner of the collapsed lender, according to people with knowledge of the matter.

Taulia, a financial technology company that counts JPMorgan as an investor and strategic partner, landed the liquidity facility from the New York-based bank, said one of the people, who asked not to be identified because the matter is private. Taulia had an immediate need for liquidity because of Greensill’s insolvency, the person said.

A deal between Greensill and Athene, an annuity seller backed by Apollo Global Management Inc., is now improbable, a person with knowledge of the matter said. Losing a key technology supplier makes Greensill a less attractive target.

Greensill filed for administration in the U.K. On Monday, capping a stunning collapse for the specialty finance firm. Apollo emerged as the sole credible bidder for some of the company’s assets, according to U.K. court filings. The two sides held talks for at least a week, with Athene offering about $60 million for Greensill’s IT and intellectual property, according to court documents.

Representatives for Apollo, Greensill and JPMorgan declined to comment. Taulia didn’t immediately respond to requests for comment. JPMorgan’s involvement was reported earlier by the Wall Street Journal.

Taulia provided much of the front-end technology that enabled businesses to have their supply chains financed by Greensill. Talks between San Francisco-based Taulia and Athene were stalling over how clients that were funded by Greensill will be financed going forward, Bloomberg reported on Tuesday.

Taulia has sought to diversify its business beyond Greensill, and the firm signed a strategic alliance with JPMorgan in April 2020. Taulia funded its notes exclusively through Greensill until 2019, and the vast majority of Greensill’s investment-grade funding deals come from Taulia, according to people familiar with the matter.

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