B2B payments firm Happay is looking up. The company told reporters this week that it has reached the 500 client mark for its B2B mobile wallet solution, and that it will now seek additional funding to continue this growth.
[bctt tweet=”Happay reached the 500 client mark for its B2B mobile wallet solution”]
Now, the company is seeking to raise between $4 million and $6 million from venture capitalists in its next round of funding, according to reports in First Post, though reports did not indicate when that round might take place.
Happay has already seen $500,000 worth of backing from investors.
While Happay first launched as a B2C mobile wallet solution, the India-based FinTech company soon switched gears to facilitate mobile payments between businesses in an effort to shift company payments from the credit card, according to reports.
According to Happay founders Varun Rathi and Anshul Rai, more than $150,000 a day is transferred between businesses on the platform.
Current users of Happay are in an array of industries, but reports note that logistics and delivery companies find the solution especially useful to make purchases on the go, while other merchant users find their cash expenses reduced as well as the time it takes for small business owners to manage cash flow and finances.
Earlier this year the company launched the Business Expense VISA Card, a product to help companies manage their expenses by automating payment records and linking those services to the mobile app.