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In total, investors placed nearly $600 million for firms in the B2B payments, T&E, financial management and other B2B spaces. But it was an embedded finance FinTech that took home more than half of the funding announced. Its micro-financing portal targets SMBs that cannot access capital via traditional means.
million in new funding, B2B FinTechs this week are finding support from investors embracing startups’ focus on small- to medium-sized business (SMB) finances, from banking to payments. NorthOne offers users cash and check deposits via ATM, supplier payment, expense software integration, accounting and eCommerce solutions.
Corporate payments innovation has cast a wide net to tackle the many pain points businesses experience today, with accounts payable (AP) one of the most popular targets for disruptors. Many of the emerging payment scenarios are business-to-consumer (B2C), Mason explained, and stretch into many verticals. From Gig Workers to Rebates.
There were several notable rounds, including high-value deals for supply chain management, B2B eCommerce and small business banking. Snap Accounts Payable, otherwise known as SnapAP, has announced the completion of the first stage of funding from angel investors as it continues on its way toward a planned $2 million seed investment round.
Researchers forecast mobile payments to account for $1 trillion in transactions next year. The company offers both B2C and B2B solutions but has recently fixed its eye on the corporate payments space. And while that trend is universal, the Asia-Pacific region is a particular hotbed for mobile FinTech.
Yet, small business (SMB) banking wasn’t the only highlight of this week’s B2B venture capital roundup, with the two largest fundraises showcasing China’s rising B2B FinTech ecosystem in areas like expensemanagement and invoicing.
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