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But the largest venture capital funding round went to an accountspayableautomation firm in the U.S. Wholesalebox said it will use the funds to expand operations into new markets and scale its technology infrastructure. TravelExpenseManagement. with an $18 million investment. Baoku Online.
Six corporate travelexpensemanagement and accountspayable (AP) solution providers are combining into a single company to form Emburse , according to a press release Thursday (Jan. Abacus, Captio, Certify, Chrome River, Nexonia and Tallie are merging together to integrate each other’s T&E and AP solutions.
In B2B FinTech, spend management is a greenfield opportunity as innovators explore how to help corporates understand the nuances of how money flows out of the enterprise. As adoption of third-party financial software platforms grows, businesses are able to automate key aspects of their spend processes. The Data Friction of Silos.
Yatra Co-founder and Chief Executive Officer Dhruv Shringi said in a statement, “As we continue to grow in the corporate travel segment, we are teaming up with Chrome River to further drive efficiencies in travel bookings by automating the expensemanagement process.
As PYMNTS had previous covered, way back in 2017, cloud-based travel and expense report management solution Certify bought nuTravel in a deal designed to enable Certify to launch a new solution using nuTravel technology. That deal reflects larger and longstanding trends in travel in general, and T&E in particular.
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