B2B Payments

Massive Funding Rounds, And Record-Setting IPOs Ahead

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This week, B2B FinTech players saw some of the largest deals this year, injecting renewed confidence in the space. There may have only been four funding rounds that closed, but their total value surpassed $216 million. Plus, the B2B FinTech community has a few of its members ready to go public — and very soon — in the U.S., Australia and U.K. One of which would set records with a nearly $7 billion valuation. Find out who has the massive IPO plans below.

 

B2B eCommerce

Moglix

In India, B2B eCommerce platform Moglix impressed investors enough to raise $4.2 million in Series A financing, reports said on Tuesday (Oct. 4). The company offers its services to SMEs that need to sell and procure industrial products; previous backers Accel Partners and Jungle Ventures led the round, reports said.

With the new funding, Moglix said it will look to boost its SME customer base up to 100,000 and add at least 1,000 new manufacturing suppliers onto its platform over the next 18 months. The firm operates globally and focuses on aiding the procurement of products like fasteners, industrial electrical equipment and maintenance tools. India, China and Taiwan serve as the company’s hotbeds for manufacturing and distribution partners, reports noted.

 

Alternative Lending

iwoca

Investors don’t seem to have any doubts over the potential of the alternative lending industry – in the U.K., at least. Alt-lender iwoca announced more than $58 million raised in its latest funding round, made up of debt and equity, the company revealed on Tuesday. More than $26.5 million of that investment was made up of venture capital led by Prime Ventures. Acton Capital Partners, CommerzVentures, Global Founders Capital and Redline Capital also participated.

Shawbrook, meanwhile, provided a $31.6 million debt facility to the company, according to reports. “We’re financing it off our own balance sheet, and therefore, having debt is quite vital for us to grow our book,” said iwoca CEO and Cofounder Christoph Rieche in an interview with reporters.

 

Cross-Border Payments

Payoneer

Iwoca’s $26.5 million investment round is nothing to scoff at, but it doesn’t come close to the biggest payday of the week. Cross-border B2B payments company Payoneer revealed a whopping $180 million funding round this week for its solution that helps small and medium-sized businesses make payments across borders.

The Series A funding was led by Technology Crossover Ventures, reports said on Wednesday (Oct. 5). The company’s CEO, Scott Galit, said it’s already processing billions of dollars over its platform, with 250,000 SMEs applying to use its solution every month. There are two factors to the way Payoneer approaches its business, the CEO told reporters. The first is with the understanding that SMEs everywhere have greater access to technology than ever before. The second is that money needs help in its “last mile” of the journey, ensuring payments are local, regulated and those facts won’t likely change anytime soon.

“But what we see is this increasing gap between what businesses need and what the incumbent banking infrastructure is able to provide,” Galit explained in the interview.

So far, Payoneer has raised a total of $270 million.

 

Enterprise Security

Cybric

Cybric has global ambitions for its enterprise cybersecurity solution. The company announced $6.3 million raised in seed financing on Thursday (Oct. 6), led by Capstone Ventures and Petrillo Capital. With the new backing, the company said it will launch its Software-as-a-Service platform for corporations across the globe.

Cybric focuses its service on continuous security scanning on-premise and in the cloud. “Battling increasingly fierce cyberattacks and breaches requires greater human capital and specific expertise, both of which are in short supply among organizations worldwide and putting enterprises on their heels,” the startup’s CEO and founder, Ernesto DiGiambattista, said in a statement. He added that the enterprise must be proactive in the fight against cybercrime.

 

Incoming Floats

Payoneer’s venture funding offers renewed confidence in the B2B FinTech investment space. But that doesn’t mean every company is going this route. There are three floats headed the market’s way very soon, according to reports.

InPayTech

Short for Integrated Payment Technologies Limited, InPayTech is reportedly looking to go public in Australia after (hopefully) raising at least $3 million. Reports on Thursday said the FinTech company will look to float on the Australian Securities Exchange. The firm offers a variety of payments and FinTech solutions, like ClickSuper, a clearing house for payments, like payroll deductions and salary-related payments. The IPO is scheduled to open Oct. 17, according to reports, though it is unclear how much InPayTech will look to raise.

BlackLine

As reported earlier, enterprise automation software firm BlackLine is ready to go public. Earlier this week, the company filed for an IPO with hopes of raising $100 million, potentially valuing the company at $1 billion, reports said. Goldman Sachs, JPMorgan, Raymond James, William Blair and Baird are underwriting the float, according to a filing with the Securities and Exchange Commission. According to documents, Silver Lake owns a 47 percent stake in BlackLine; the company invested more than $200 million in BlackLine in 2013, reports said.

Misys

Over in the U.K., Misys will look to sell nearly $632 million worth of stock on the London Stock Exchange early next month, reports said on Thursday. Misys offers software solutions for financial institutions. With its IPO, Misys could reportedly be valued at nearly $7 billion. It’s currently owned by Visa Equity Partners, which acquired the company in 2012, delisting it from the public market. According to reports, Misys’ float would be the largest tech IPO in London, surpassing Sophos’ $1.26 billion float last year.

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