The B2B venture capital boom continues this week with around $ 118 million in combined funding for a variety of FinTechs. Investors have delved into B2B trading, financing and payment solutions for small and medium-sized businesses (SMBs), with eCommerce-as-a-Service taking the top spot this week. In addition, further financing is planned for a FinTech that uses the BNPL (Buy Now, Pay Later) model for B2B transactions.
While the company didn’t disclose exactly how much it raised, Treinta of Colombia announced that it has secured more than $ 500,000 for its accounting and inventory management technology for small businesses across Latin America. The funding is reportedly a combination of investments from friends and family, investments from Y Combinator, and an earlier round of $ 220,000 secured earlier this year. The company said it will use the funds to expand its product offerings to include micro-businesses with the potential to introduce a financing solution.
Playter Pay, a UK-based B2B FinTech that enables BNPL solutions for small business hiring and talent recruiting, has announced $ 1.38 million in funding from a “consortium of investors,” the company said a press release with. The startup noted that it plans to use the investment to strengthen its own team, invest in marketing, and enhance the customer experience.
Washington State’s Level operates a gig worker financing solution that connects gig professionals with loans drawn from their freelance earnings. The company announced a $ 1.5 million pre-seed financing round with investors from NextView and Untapped, in which TechStars, Acument and AScend.vc participated. The company will use the funds to expand its service offering to professionals in the gig economy.
India-based cross-border B2B trading platform GlobalFair announced a $ 2 million investment round led by Saama Capital and India Quotient, according to YourStory reports. The company, which connects suppliers across India with corporate buyers in markets like the US, Vietnam and South Korea, said it will use the investment to expand its manufacturing network in India and Vietnam and drive growth in all industries.
Twinco Capital, headquartered in Spain and the Netherlands, has just announced a $ 3.64 million investment round led by Mundi Ventures, in which the existing investor Finch Capital and unnamed investors will also participate. Reports did not state what Twinco intends to do with the investment, but did suggest that the company operates a supply chain financing solution that allows corporate buyers to connect their suppliers to the financing at the time of order.
Mesh Payments, an enterprise payments technology company, raised $ 13 million for its solution that enables SMBs to manage their expenses without the need for a corporate credit card. The financing round was led by TLV Partners, which also included Meron Capital, R-Squared Ventures and others. The company said it will invest the investment in sales and marketing initiatives and strategic partnerships.
The $ 18.64 million raised by Trade Ledger in the UK will go towards expanding the sales, marketing and customer delivery team, the company recently announced. Point72 Ventures’ investors led the Series A share round, while Foundation Capital, Court Lorenzini, Hambro Perks and other existing backers also participated. Trade Ledger provides a solution for lenders to finance SMBs through enhanced data and risk mitigation technology.
Payments-as-a-Service startup UNIPaaS has raised $ 10 million for its technology, which allows marketplaces and B2B software-as-a-service companies to embed payment technology into their own platforms. The company, which operates in Israel and the UK, said TPY Capital led the investment with Sarah Friar, CEO of Nextdoor, Eric Sager, COO of Plaid, Sam Hodges, CEO of Vouch Insurance, and Gokul Rajaram, angel investor , participated as well as other supporters. The company said it will use the investment to further expand its platform and introduce additional financial services offerings to fuel growth.
France’s Libeo has raised $ 24.26 million in new funding for its technology that makes supplier payments easier without companies having to connect their bank accounts or secure an IBAN. The company reportedly announced the Series A investment from DST Global, Serena, LocalGlobe, and Breega, as well as angel investors. As Libeo works to expand its API-based B2B payments platform, Libeo will use the funds to expand its workforce.
Fabric, another Washington state startup, operates a headless e-commerce-as-a-service platform that caters to both B2B and direct-to-consumer brands. In a press release, the company said it has raised $ 43 million in Series A funding that will accelerate product development and expand its team. Fabric points to data highlighting the growing volume of ecommerce transactions. By 2023, B2B e-commerce is projected to hit $ 1.8 trillion. Fabric offers an API-based solution to streamline its e-commerce strategies. Norwest Venture Partners led the round, while Redpoint Ventures and Sierra Ventures also participated.
A funding round is not yet officially closed, but TechCrunch reports say an investment for Tillit, a BNPL FinTech for B2B transactions, is on the way. The company is expected to raise approximately $ 3 million in new funding from Sequoia, LocalGlobe and Visionaries Club. Tillit integrates its credit offering at the checkout or in billing for B2B sales and enables companies to create a repayment plan that can include installment payments.
NEW PYMNTS DATA: BUY NOW, PAY LATER, CONSUMER STUDY
Over: Buy Now, Pay Later: Millennials and the Changing Dynamics of Online Credit, a collaboration between PYMNTS and PayPal, examines the demand for new flexible credit options and the way consumers, particularly in the millennial demographics, are paying online. The study is based on two surveys of nearly 15,000 US consumers.