B2B Payments

US, Asia Battle For Top B2B FinTech Funding

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KPMG had some bad news for the FinTech world this week. Along with CB Insights, KPMG researchers found in their latest quarterly analysis that FinTech investment by venture capitalists declined across the globe in Q3 of this year.

Their “Pulse of Fintech report found $2.4 billion in FinTech VC funding in the quarter, down 17 percent compared to the previous quarter — a stark decline from the $5 billion-plus quarterly investment values seen in quarters in 2015.

Asia outpaced North America in funding volume for the FinTech world, and this week’s B2B venture capital roundup seems to reflect that, with several deals from VCs in the region.

But North America surprisingly came out on top — blowing the competition out of the water with three deals valuing nearly $70 million. Find out where the money went in our recap below.

 

B2B Payments

MC Payment

Late last week, MC Payment announced a $3.5 million strategic investment funding round with plans to use that money for B2B payments solutions. The Singapore-based company said the funding was provided by Aura Funds Management, tryb Capital and Perle Ventures, as well as investors in Thailand, which will enable MC Payment to step into the Thai market, it said.

MC Payment offers an array of B2C and B2B payment solutions, but its most recent offering is Xaavan, a B2B supply chain payments and eInvoicing platform. The company will continue to develop new solutions as it looks to explore more markets across Asia.

 

Alternative Lending

P2Binvestor

Japan may not be known for its alternative finance market, but investors at Japan-based Future Venture Capital (FVC) put the country in the spotlight with its investment in U.S. SME finance platform P2Binvestor. Co-leading the $7.7 million funding round was U.S.-based Rockies Venture Club, reports said, and the Series A1 funding marked the first time FVC invested outside Japan.

P2Binvestor uses a crowdfunding model and partnerships with retail and institutional investors to provide factoring loans to SMEs. Though averaging about $1 million per loan, the company said it has just secured a $10 million line of credit for a borrower, its largest to date. With the latest investment, P2Binvestor said it will focus on growth via marketing, sales and platform improvements.

Community Funded

Future Venture Capital spearheaded yet another funding round in the U.S. this week with its investment in Community Funded, a company that helps businesses, like universities, health care institutions and nonprofits, raise money by launching crowdfunding and fundraising initiatives. Community Funded revealed Thursday (Nov. 17) that it secured $1.81 million in seed funding from FVC and other backers. According to the startup’s CEO, McCabe Callahan, the money will be used to meet increasing demand for its services both in the U.S. and abroad.

 

Procure-To-Pay

Procurify

Here’s a startup that proves the U.S. doesn’t own all the spotlight in North American B2B FinTech funding. Canada’s Procurify announced Thursday a $7 million Series A funding round led by Runa Capital. Point Nine Capital, Nexus Venture Partners and others also participated, according to reports.

Procurify offers a cloud- and mobile-based procurement and accounts payable solution to help companies analyze and manage spend. With the new funding, the company said it will expand its staff as it works to keep up with global demand.

 

Cybersecurity

RiskIQ

It’s been a good year for cybersecurity startups, and RiskIQ’s latest funding round hints that the industry isn’t slowing down. The company revealed late last week that it raised $30.5 million in Series C funding led by Georgian Partners. Summit Partners, Battery Ventures and MassMutual Ventures also participated.

U.S.-based RiskIQ offers data protection services by helping businesses identify and safeguard their outward-facing assets that may be exposed to cybersecurity threats. That includes third-party web, mobile and social operations, the firm explained. Financial institutions are among its top users, though the company also services media, manufacturing tech and retail firms, among other verticals.

 

SaaS

Womply

Coming in at a close second for B2B venture capital value this week is Womply. The U.S. Software-as-a-Service company provides SMEs with software to manage front-facing operations, like managing an online presence, marketing, customer management and more. On Tuesday, the firm revealed a $30 million funding round. Sageview Capital and other backers led the funding, reports said.

Womply operates with a focus on data analytics to help small businesses make the most use of information. In a statement, Womply President Cory Capoccia said the competitive environment for SMEs is growing, forcing them to look at new technologies to remain competitive and ensure a positive customer experience. The new funding will be used to expand its staff and develop new products, it said.

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