B2B FinTechs Nab Funding Before 2016’s Close

It’s no surprise that venture capital rounds in B2B FinTech may be dwindling as the holidays ramp up, but that doesn’t mean the space has gone ignored. Investors in the U.S., Europe and Asia provided more than $19 million across treasury management, corporate FinTech and Software-as-a-Service. The most high-profile (yet secretive) deal went to Kyriba, but SaaS scored two deals this week. We break down the funding that managed to close before the year ends.

Treasury Management

Kyriba

Treasury management startup Kyriba, headquartered in New York, secured new funding from Mitsubishi UFJ Capital, reports revealed Monday (Dec. 19), though the companies didn’t disclose how much the firm raised. Nevertheless, it’s safe to say the latest backing will boost Kyriba’s footprint in Japan. According to reports, the company already has more than 50 corporate clients in the country. The Series D funding means Mitsubishi UFJ Capital joins a slew of other backers for the company that include HSBC, Daher Capital, BPIfrance and others.

Corporate Banking

Cardlay

Cardlay offers a card management platform for banks that are looking to offer digital solutions and compete with FinTech firms. Private investors recently provided $4 million in funding for the company, reports said this week, which will help Copenhagen’s Cardlay continue forming relationships with traditional banks. Its software offers FIs expense management, travel management, financial forecasting and other corporate account management solutions for banks to offer their own business clients, in addition to its front-facing card platform.

Software-as-a-Service

eSUB Construction Software

With a focus on construction project management, U.S.-based eSUB impressed investors and raised $5 million from Revolution Ventures, reports said. ESUB offers software for contractors to track their work and ensure they get paid from their corporate clients — a challenge for many in the field, according to the firm’s CEO, Wendy Rogers. The Series A funding round will help the company expand existing mobile app solutions with open APIs and target other in-field workers, like project superintendents and supervisors. Reports this week noted that the company also plans to expand its staff over the next year.

LeanData

A $10 million Series B funding round for LeanData signals confidence in the company’s lead management software solutions, helping businesses to match their own sellers with particular buyers. Sapphire Ventures led the round, announced Thursday (Dec. 22). LeanData, also based in the U.S., said it will use the funding to support new partnerships and expand its software’s reach in an effort to connect sales reps to the correct leads.