Today in B2B payments, NorthOne raises $67 million to expand its business banking and financial management platform, while Astra nets $10 million to deliver its faster money movement capabilities to more customers. Plus, Shoplazza and PayerMax partner to provide merchants with collection solutions.
NorthOne Raises $67M Series B Toward Business Banking Platform
FinTech NorthOne has raised $67 million in Series B funding to go toward expanding its business banking and financial management platform. NorthOne — which was founded to work with various types of Main Street businesses that have been underserved by older financial institutions — said it will build new working capital and credit products, along with faster and more convenient payment solutions for entrepreneurs.
Astra Nets $10M and Line of Credit for Card-to-Card Payments Expansion
Financial transfer technology firm Astra has announced a Series A funding round that netted it $10 million. The company offers a “lightweight API integration” that lets developers add faster settlement and financial automation to their products. Astra CEO and Co-Founder Gil Akos said: “With this new capital, we are excited to not only grow our portfolio of solutions but to bring faster money movement capabilities to a larger customer base.”
Shoplazza Adds PayerMax Collection Solutions to eCommerce Platform
Singapore-based global payments solution PayerMax and Canada-based global eCommerce platform Shoplazza have partnered to provide Shoplazza merchants with payment collection processes and other FinTech services. The companies said: “This partnership will allow Shoplazza merchants and their shoppers to enjoy a smooth, efficient and secure payment experience, and provide the support they need in an uncertain global trade landscape.”
CFOs Making Customer Retention, Flexibility Top Priority
When macroeconomic conditions take a downturn, chief financial officers (CFOs) must determine how far a company can accommodate customers who may be having a hard time. Florence Healthcare CFO Cooper Anderson told PYMNTS in an interview: “We invest in folks in the sense that, ‘We know you’re having a tough year, we value the relationship, and we’re willing to bend on price this period or do some discounting here or there,’ to try to make it work for them and hopefully get that back in goodwill and higher retention over time.”
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