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With nearly $90 million in new funding landing at B2B FinTechs this week, investors showed off a diverse range of focuses, from procure-to-pay to small business payments. But it was a Banking-as-a-Service company that led the roundup this time, with one startup looking to expand into Credit Cards-as-a-Service with its latest investment.
With hundreds of billions of dollars changing hands each year, B2B banking and payments is a big, big deal. According to industry research, the B2B payments industry moves roughly $550 billion each year, making up roughly half of the $1.2 Enter the new PYMNTS.com B2B API Tracker™. trillion global payments market. .
clearing bank ClearBank is introducing multicurrency bank accounts for businesses to move funds based on foreignexchange prices in real time. In addition to their collaboration, Purdue revealed it will also be investing in Payrailz's credit union service organization, CU Railz. In the U.K.,
It was another stellar week for B2B FinTech startups, which announced a collective $191.8 million in venture capital and growth equity investment this week. B2B Payments. The company recently spoke with Karen Webster about the investment and its goals for the funding, announced Tuesday (Oct. PayCommerce. On Thursday (Oct.
Though not the busiest week in B2B venture capital funding, investors presented a clear preference for corporate expense management and B2B eCommerce, with additional funding going toward logistics and small business banking firms for a total of $203.5 million raised this week.
Statrys is a payment offering is targeted to small and medium-sized businesses (SMBs), entrepreneurs and upstarts that need flexible banking and developed foreignexchange offerings that can let them expand around the world.
FLEETCOR , which works in global business payments, announced that it had reached an agreement to acquire cross-border payment firm Associated ForeignExchange (AFEX) to help boost its own payments network, a press release says.
CSI Kick Start, a FinTech incubator operated by corporate payments company CSI globalVCard, said it has officially kicked off its second year of searching out B2B payments innovators. We genuinely care about their long-term success, which is what really sets our investment model apart from most other venture capital funding models.”.
FLEETCOR is looking to invest $1 billion this year, despite an M&A slowdown in the payments sector due to the ongoing pandemic. He noted that Bill.com, which received an investment from FLEETCOR in April 2019, held a successful initial public offering (IPO) in December. The deal is expected to close in the first quarter 2021.
Remittence technology firm WorldRemit is stepping into the cross-border B2B money transfer market with the launch of WorldRemit For Business, reports in Africa News said Wednesday (June 12). The Series D round was led by TCV, Accel and Leapfrog Investments, all returning investors. Last year the company became the first U.K.
To that end, Alan Koenigsberg, global head of new payment flows at Visa Business Solutions , said in a Masterclass interview with Karen Webster that the B2B space represents a landscape ripe with opportunity. To get a sense of the size and scope, consider the fact that there is $120 trillion in annual B2B spend across the globe, he noted.
Whether you believe the hype or not, blockchain technology is attracting massive investments, exploration and competition across the globe. Businesses doing B2B trade between the U.S. And, according to 9fBank in China, the value of cross-border B2B payments involving China is slated to reach $1.5 trillion in just five years.
Cybersecurity investment probably won’t let up anytime soon. Indeed, this week did see some cybersecurity funding action, with several big-name backers participating in the $85 million investment for Team8 , a venture studio that explores how corporate collaboration can develop better cybersecurity tools and businesses.
18) that it would improve its Sri Lanka operation with the launch of a new digital foreignexchange (FX) program, reports said. The FX program is a step into the corporate client market, and its investments in Sri Lanka mark an initiative for a more well-rounded set of digital solutions for clients in that region.
Investors backed a range of B2B FinTechs this week operating in areas including accounting, cross-border payments, virtual cards, expense management, cybersecurity and more. Below, find the latest in B2B venture capital funding. million in Series A funding, TechCrunch reported this week, with the funding led by Smilegate Investment.
This week’s examination of the latest initiatives to target B2B payments friction from the ground up finds a mix of strategies. In a statement, Nium Global Head of Commercial Payments Sanjiv Razdan said that it is particularly important today for companies to have this B2B payment flexibility and a solution to optimize working capital.
However recent analysis from Iron Pillar , as reported recently in the Times of India, suggests that such a slowdown may not be detrimental to the B2B FinTech startup arena. Finland’s Enfuce announced more than $11 million in new funding for its B2B financial services offerings, with Maki.vc leading the investment.
The bank will implement kACE Treasury's foreignexchange pricing and distribution capabilities through its own eCommerce platform, noting that the technology will integrate directly into mBank's existing treasury systems.
London specialty business lender Just Cashflow (JCF) is partnering with London FinTech Ebury to roll out foreignexchange (FX) services, Just Cashflow announced in a company blog. . The FX solutions were developed for small- and medium-sized businesses (SMBs) dealing with business-to-business (B2B) cross-border transactions.
London-based global payments and foreignexchange company moneycorp has announced its expansion into Canada. In today’s challenging economic environment, I am pleased to continue our expansion into a prime market that aligns with our strategic growth plans,” Dowd said in a press release.
Domiciled in the European Union, Banking Circle specializes in providing global payment account transactions and foreignexchange services to financial institutions, including FinTechs, banks, acquirers, payment service providers, FX brokers, money transfer businesses, e-wallets, and alternative payment providers.
After one of the busiest weeks of the year for B2B startup venture capital funding, this week revealed a bit of a lull in the market. Still, investors placed more than $368 million into the space, often in the form of Series B rounds for a range of B2B players, including fleet management, small business (SMB) banking and global payments.
investment bank further after years of concerns that the unit is too large and too unprofitable. investment bank should shrink. investment bank operations by quelling client concerns of counterparty risk at the unit. Deutsche has already taken measures to reduce the size of the investment bank.
The tallies are in: Innovate Finance has calculated the state of investment in FinTech for 2015, and we have the numbers. Innovate Finance released The 2015 FinTech Investment Landscape this month, a report that offers a snapshot at how investors are placing their money among financial innovators. investments last year.
With nearly $50 million in venture capital funding for B2B startups this week, the field didn’t fare too bad. Cross-Border B2B Payments. “It can take days for the money to reach its destination, and the transfer and foreignexchange fees are excessive and often prohibitive to SMEs.” ” Logistics.
Technology developed by Bloomberg is now being used by Shell ‘s ForeignExchange Central Treasury unit to interconnect the fuel conglomerate’s operating units across 22 markets, the companies revealed Monday (Nov. Shell acquired a minority stake in the U.K.-based
In a week of multiple nine-figure venture capital funding rounds, B2B FinTech has proved it plans to end the year on a high note. Below, PYMNTS breaks down the more than $912 million raised by B2B FinTech firms this week. The investment now values Automation Anywhere at $2.6 Automation Anywhere. million raised, U.K.-based
and into the business banking segment, as financial institutions (FIs) explore ways to improve their B2B services and compete with more agile FinTech firms. “A lot of investment has gone into creating better onboarding journeys for customers,” he said, “but this, to us, doesn’t solve the major problem in banking.”
B2B funding is far from consistent. million to B2B startups. Adding to the confusion is the latest data from KPMG International and CB Insights, which revealed that private investment in FinTech startups more than doubled last year. Still, B2B startups continue to land on VCs’ radars. B2B eCommerce. In the U.K.,
12) in Catering Insight showcased some of the foreignexchange hurdles businesses face as a result of that uncertainty. Last month, reports in the Financial Times made clear that businesses will increasingly be faced with decisions they must make about how to manage foreignexchange volatility. Reports Monday (Aug.
With $95 million injected into B2B startups over the last week, venture capitalists had their purse strings loose. But it was another segment that nabbed the biggest slice of investment this week. But it was another segment that nabbed the biggest slice of investment this week. But which industry scored the most dough?
But APIs can offer a different strategic advantage, especially to B2B FinTechs, according to A.J. Remlinger, Project Manager — Solutions for Business at foreignexchange technology firm OANDA. It’s a sentiment echoed throughout the B2B FinTech market. Certainly regulations like PSD2 and the U.K.’s
In this week’s B2B Data Digest, PYMNTS digs into surveys on SMBs to explore how entrepreneurs are stepping into the new year, from business confidence to access to financing to global outlook. But when it comes to small business (SMB) hiring, the numbers don’t always present a clear picture. A third said they plan to expand into new markets.
Those potentials and threats, however, expand beyond foreignexchange challenges. of business travel agents said their clients aren’t using Airbnb and similar alternative accommodation services, despite Airbnb recently launching its B2B solutions, as well as reporting a steady increase in corporate use of the on-demand tool.
Through this investment, we have enriched our API capabilities to ensure our customers receive a best-in-class experience when using our products and integrating their data,” said Scott Johnson, global head of product for Western Union Business Solutions.
Global Collections facilitates same-day receipt of funds and limits foreignexchange fees by offering wholesale currency conversion rates. This launch is a revolution in collections and provides the infrastructure needed to fast-track B2B innovation, allowing companies to go global while acting local. dollars or euros.
In addition to banking, Carone said he sees additional opportunities for APIs to serve the FinTech community by offering a variety of financial services, including wire transfers, check issuance, bill pay and foreignexchange. Interoperability, said Carone, is the key driver behind API investment. Collaboration Inspiration.
B2B FinTech BitPesa , which operates a platform offering foreignexchange and cross-border payment services, is restructuring and has announced new funding to support its expansion efforts. The company focuses on global currency trading solutions and financial services in both the B2B and B2C frontier.
Others, like Visa B2B Connect and SWIFT gpi , aim to transform it. Spain-based CaixaBank is one financial institution investing in some of the newer payment infrastructures and rails available today. B2B payments are full of friction that lead to delays in vendors receiving payment.
Despite a generally positive outlook, foreignexchange risks remain. APIs have facilitated process automation and personalized data exchange, crucial for making quick, informed decisions about incoming and outgoing payments. “By
To help speed the transformation, with a nod to a bit of hybrid approach for some firms, Rangachari noted that “we have invested in many tools, including a plug-in for Excel powered by APIs, so that clients can get real-time data into their own Excel environment.”. Different Approaches To APIs.
However, with technology in place, Rodrigues explained, treasury can be transformed to become the “24/7 investment arm, to support financial and broader goals for global companies.”. Beyond time windows, all too often, finance functions are still tied to PDFs, Excel files and email.
Pilot testing for the tool begins next week, reports noted, and while the bank did not disclose how much it has invested in the virtual assistant, the firm has reported that 40 percent of its $10.8 Do you know you could send a foreignexchange ACH payment instead? When you log in, it can say, ‘Looks like you have sent 100 U.S.
As the open banking business model permeates into the B2B financial services market, FinTechs and traditional financial institutions continue to find new use cases for API integrations and connectivity to elevate the business-user experience. Just Cashflow Taps Ebury for FX. In the latest demonstration of FinTech-to-FinTech integration, U.K.
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