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Concerns over an economic downturn haven’t seemed to dissuade venture capitalists from backing B2B FinTech firms, with this week’s roundup including players in the small business (SMB) banking, corporate travel, expensemanagement, alternative finance and data integration spaces. 2nd Address.
Yet this week's commercial card innovation tracker finds B2B financial service providers embracing the virtual card for a range of use cases, including fleet, corporate travel, and vendor payments. Bank, TravelBank Partner On V-Cards For ExpenseManagement. Comdata Digitizes Legacy Fleet Payment Tool.
Investors continue to fuel the growth of the B2B technology startup community with another busy week in funding. In total, investors placed nearly $600 million for firms in the B2B payments, T&E, financial management and other B2B spaces. B2B payments FinTech Qolo has announced a $3.8 Reports said the U.K.
Happay , a business expensemanagement company based in India, has landed a partnership with HDFC Bank , reports in Business Standard said on Monday (March 5). The company will link HDFC small business (SMB) customers to its travel and expensemanagement solution, which is tied to a prepaid card.
Ride-hailing app Lyft is continuing to target its business travel users through enhancements of expensemanagement support. The company announced on its blog this week that its B2B service, Lyft Business, will be upgraded with more efficient documentation of employee rides using the app.
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. The company said Thursday (Jan.
The latest data on corporate travel and expensemanagement trends was released today (Feb. The company analyzed data from its clients and found new patterns in how companies manageexpenses incurred while employees travel. 9) as T&E firm Certify published its newest report.
We’re covering two weeks’ worth of B2B venture capital funding, and across the board, India has come out on top. It’s certainly not the largest funding round the B2B FinTech industry has seen. Cash Flow Management. B2B eCommerce. Another Indian B2B eCommerce startup announced its own funding.
Uber for Business is continuing to broaden its corporate expensemanagement support with two new integrations for business travelers. Business travelers using Expensya’s expensemanagement solution will be able to see their Uber trips automatically added into the platform for streamlined record keeping and reconciliation.
This week’s B2B venture capital activity led to an impressive $141.2 million in total funding across nine rounds, with startups ranging from corporate travel and expense (T&E) management and small- and mid-sized business (SMB) accounting to artificial intelligence and beyond. Travel and ExpenseManagement.
Today in B2B payments, Unifiedpost reveals acquisitions to build out its B2B platform, while Tally Solutions launches eInvoicing technology in India. Unifiedpost Unveils Acquisitions To Build European B2B Platform. Unifiedpost Unveils Acquisitions To Build European B2B Platform. 23) announcement.
But it can also mean booking rides a year in advance, “which is something businesses love in terms of planning, budgeting and expensemanagement,” the CEO noted. The B2B ground transportation segment also has to cater to the differing corporate cultures around the world. Yes, that sometimes means a quick ride on the fly.
Venture capital is no guarantee in times of market volatility, but this week’s B2B venture capital breakdown finds several companies managing to secure millions for solutions that enable B2B eCommerce, financial management and alternative lending. The firm is based in Israel and the U.K.,
17) that UBS will integrate PredictX artificial intelligence and predictive analytics to improve its travel and expensemanagement. According to UBS, the financial institution (FI) is working to develop more accurate corporate travel budgets and forecasts that recognize the nuances of seasonality.
B2B FinTech startups came close to hitting the $100 million investment mark this week, with funding rounds in the U.S., B2B eCommerce. B2B FinServ. TravelExpenseManagement. India, Australia, Germany, Sweden and the U.K. Alt-Lending. Industrybuying. The startup, based in the U.S., Soundtrack Your Brand.
Last year, WeChat announced a partnership with corporate travel and expensemanagement firm Concur, integrating the T&E tool into WeChat to facilitate users’ fapiao tax receipt needs. The fapiao system offers both proof-of-purchase as well as tax data necessary for businesses to comply with tax law.
According to Ken Tan , co-founder of Singapore-based small business travel and expensemanagement startup Navisteps , there is cause for optimism. On the other end of the spectrum, however, just under half of those surveyed said it is likely to be only two or three years until the industry recovers.
A new solution by business service provider TMF Group is looking to help corporations manage employee spend, regardless of location. An announcement on Thursday (June 23) said TMF is rolling out InternationalXpense, a platform to automate employee expense claims across more than 80 countries.
The firm revealed this week that it is working with Argo , a corporate travel and expensemanagement company operating in Brazil and Mexico, to offer a virtual card solution for corporate travelmanagers. Virtual cards are widely considered to be a more secure payment method for B2B payments.
“Concur TripLink with TripIt Pro is the preferred solution for customers who aren’t a fit for Concur Travel, an online booking tool.” ” Separate reports in Skift on the same day said that SAP Concur rebuffed a buy-back offer from Hipmunk’s founders, Adam Goldstein and Steve Huffman.
Bank has lent support for mobile B2B payments. Jones said he envisions platforms like Apple Pay as having potential to take off in other areas of B2B payments, like procurement. “As The bank announced earlier this week that some of its commercial cards are now compatible with Apple Pay, Android Pay and Samsung Pay.
SalesTrip , a new corporate travelexpensemanagement firm, is launching its product this week in the U.K. The company has integrated a travel booking and spend management solution that it says is the first to operate on Salesforce , reports in Realwire said on Wednesday (Feb.
Corporate expensemanagement platform Captio announced a $1.12 The firm said it will use the latest funding round to help fuel expansion of its travel and spend management solutions. million funding round on Friday (Sept. BBVA and Toyota are among some of its clients, reports noted.
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. A business may have one platform for their corporate card, another for AP, and another for employee travelexpensemanagement.
With a cautiously optimistic outlook, corporate travel technology firms continue to press forward to introduce new tools for businesses in preparation for returning T&E spend. For CWT, that means a recently-announced partnership with corporate travelexpensemanagement FinTech SAP Concur.
Some financial institutions, including Bank of America and UMB Bank, have also invested in mobile B2B payments. But so far, mobile B2B payments have been slow to take off. UMB Financial Corporation also spoke with PYMNTS last year about its strategic focus on mobile.
Six corporate travelexpensemanagement and accounts payable (AP) solution providers are combining into a single company to form Emburse , according to a press release Thursday (Jan. With significant scale and disruptive technology, we’re redefining how organizations view travel and expensemanagement and AP automation.
Airbnb revealed a new partnership with business travelmanagement firm AirPlus International to develop a holistic business travel solution, including travel booking, payment, billing and expensemanagement. The new solution will roll out next year, the companies said.
Travel and expensemanagement firm Concur has added new features to its solution empowering employers to gain a new level of transparency over where their employees are while on business trips. Reports on Friday (Oct.
Corporate expensemanagement firm Chrome River is collaborating with India-based travel company Yatra , the companies announced on Monday (May 14). India’s expensemanagement market is ripe for disruption, according to Yashwanth Madhusudan, co-founder and CEO of India industry player Fyle.
5), highlighting the need for CFOs and other financial managers to embrace travel and expensemanagement technology to keep up with shifts in employee spend habits. Concur is looking to expand the capabilities of its own travel and expensemanagement solution.
FlitWays, a B2B company that helps businesses book ground travel and streamline expensemanagement processes, has enhanced its services and added new features, the company said Monday (July 10). The corporate travel industry has garnered much attention from FinTechs in recent years, both by B2C and B2B companies.
American Express’ corporate travel unit, Global Business Travel (GBT), is integrating Lyft as the latest ride-sharing service supported by the business travel booking and expensemanagement solution.
The travel and expensemanagement services of Chrome River are linking up with the corporate travel offerings of Amadeus, the companies announced Thursday (Nov. The deal is an extension of their existing partnership, announced last year, that saw the two firms roll out a corporate travel solution across North America.
India’s largest online travel company, MakeMyTrip, is entering the business-to-business (B2B) space with the launch of a new solution for corporate travel. In 2015, IT service provider Wipro inked a series of partnerships to launch its own corporate travel and expensemanagement app in India.
Rydoo, the mobile T&E app resulting from a collaboration between Sodexo, Xpenditure and iAlbatros, is integrating its expensemanagement capabilities with Uber. 10) said Rydoo is linking into Uber for Business to streamline corporate travelers’ reimbursement and expense reporting processes.
Expensemanagement firm Coupa is getting closer to the corporate travel space thanks to a new collaboration with Sabre. One of the greatest pain points for business travelers is the time-consuming process of creating expense reports,” stated Coupa Vice President of Technology Partnerships and Corporate Development J.J. “The
Travel and expensemanagement firm Concur announced an acquisition this week in an effort to bolster Concur’s travel search capabilities. Hipmunk’s travel search capabilities will integrate into Concur’s travel and expensemanagement platform.
FlitWays Technology , a company enabling ground transportation booking, is expanding its B2B offering across Europe. 22) said FlitWays is launching its business travel booking tool in London, Milan, Berlin, Paris and Barcelona to address businesses’ ground transportation management and expensemanagement needs in these markets.
India’s HDFC Bank has teamed up with Mastercard and SAP Concur to manage corporate travel and expensemanagement, according to a report by The Economic Times. The bank will offer a corporate credit card for travelers that provides solutions for expensemanagement and payments while users are on business trips.
The ridesharing space continues to hit new milestones in the corporate travel space, with businesses choosing to spend their money on these services as opposed to traditional taxis.
Corporate expensemanagement firm Coupa is ready to go public, and sources are now revealing new details about the plans for the firm post-IPO. Reports by Business Travel News late last week said Coupa is likely to use the funds raised from the initial public offering to finance acquisitions.
On the heels of AirPlus’ partnership with Airbnb to develop a corporate expensemanagement solution, Zorn dove into how an openness to the sharing economy can lead to an openness to virtual payment solutions (and vice versa). “They can’t manage it like they can manage hotels or taxis or flights.”
A Zhonglin Capital official said, per the announcement, “In the connected era, we are optimistic that business travel and expensemanagement platforms have become standard applications for enterprises.”. Fueled by funding in the past, Huilianyi grew into Malaysia and Singapore in 2018, and then into Japan last year.
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