B2B Payments

$79M Funded Across B2B FinTechs


It was another week of varied investments for B2B venture capitalists, who, in total, raised more than $79 million for the space. B2B payments, alternative SME finance, enterprise cybersecurity, data management and logistics all secured a financial boost — find out which startup scored the most in our breakdown below.


B2B Payments


With a goal of expanding its presence across the Nordic region, Enterpay, based in Finland, has raised new funding from NFT Ventures, the companies said Monday (Feb. 6). While they didn’t reveal how much money will go to the startup, Enterpay, which focuses on B2B payments for B2B eCommerce players, did say it will look towards international expansion thanks to the support from NFT Ventures, based in Sweden. Enterpay enables businesses to pay without credit cards when making purchases online using invoice data, reports said.


Alternative Lending

Capital Float

Securing more than $2.5 million, India’s Zen Lefin, better known as Capital Float, will expand its abilities to lend to SMEs. The company announced the new funding from IFMR Capital Finance and IFMR FImpact Long Term Multiasset Fund, though the funding isn’t just in the form of venture capital. Investors have provided $2.55 million worth of nonconvertible debentures (NCDs) to Capital Float, which are loan-linked bonds, reports explained. Capital Float will use the funding to lend to its existing and new SME clients.


Enterprise Security


Investors at Lightspeed Venture Partners and Cisco Investments led the $30 million Series C funding round for Exabeam, a security intelligence solutions company that uses its own Security Intelligence Platform to protect corporate data using automation and behavioral analytics. The company noted that its services aim to rethink data protecting as insider attacks continue to rise. Exabeam, which is readying to debut new products next week, will use the investment to continue its disruption of the cybersecurity space, the firm said.


Meanwhile, another cybersecurity company, Rippleshot, announced its own investment round to the tune of $2.6 million in venture capital from KDWC, CMFG Ventures and the VC unit of CUNA Mutual Group, reports said Wednesday (Feb. 8). Rippleshot uses machine learning and data analytics to provide fraud detection solutions to banks and other financial service providers. The company said it will use the investment to expand its team of developers and data scientists and to continue expansion in its field.




India landed on the board again with LetsTransport, a logistics provider that announced more than $4 million in Series A funding earlier this month. Reports this week said the company is already operating across seven cities in the country, offering trucking services to both enterprises and SMEs. With the new funding, LetsTransport said it will focus on digital payments within the logistics industry, with plans to break even sometime next year.


Data Managament

Plaid Technologies

With its focus on helping other FinTechs, like Venmo and Lending Club, gain access to their own customers’ financial data, Plaid Technologies has secured the largest funding round of this week with $44 million in Series B financing. The VC units of Citi and Amex both participated in the investment, reports said this week, with a big show of support for Plaid’s API that connects FinTech developers to bank accounts to gain access to transaction data, as well as to authentication solutions to help them prevent fraud.


Other VC Activity

Greenline Ventures didn’t announce a new investment in a B2B FinTech startup this week, but it did reveal the launch of its $20 million Small Business Capital Fund, which will be used to provide between $250,000 and $2 million to SMEs in an effort to support economic growth and the success of small businesses across the nation.

“Small businesses continue struggling to access the capital required to effectively operate and grow — particularly businesses located in low-income communities,” said Greenline Ventures President Patrick Vahey in a statement. “This fund will provide equity-like financing at very favorable rates and terms for eligible businesses to facilitate growth and expansion, thus stimulating economic development and job growth in underserved communities.”



The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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