Global Investors Eye AltFin, HR Tech With B2B Investments

Investments

The more than $69 million raised by B2B startups this week came from across the globe, including Israel, the Netherlands and Singapore, to name a few. Investors targeted the alternative small business lending market, particularly in the trade finance arena, but it was the human resources management and talent retention space that saw the largest investment round of the week.

Greenshades Software

With new funding led by SFW Capital Partners, Greenshades Software said it will focus on expanding its portfolio of products, which currently includes payroll, tax and human capital management services for its corporate customers. The company said it will also be focusing on further growth and development. While the Florida-based company did not reveal exactly how much it raised, Greenshades said its co-founders are also investing in the round to fuel expansion for the firm as it continues to target the internal payroll processes of middle-market companies, with an aim to address the expense and lack of visibility related to outsourced services.

Finturi

Netherlands-based Finturi secured $2.26 million for its platform that links small businesses to invoice financing, turning to artificial intelligence and blockchain to secure the process. The angel investment was provided by NetSam Participaties BV, with a press release noting Finturi plans to use the funding for product development and overall growth.  Finturi hasn’t officially launched its platform, but reports said the company continues to build out the solution to connect financiers with businesses. The tool is expected to launch later this year.

CreditDigital

U.K.-based CreditDigital raised $2.26 million for its small business trade finance and lending platform, too. Reports in Business Cloud this week said the firm takes a different approach to business finance than Finturi, however, instead offering a point-of-sale financing option that lets corporate buyers repay the cost of their purchases over 12 months. Suppliers, on the other hand, get paid immediately. While similar to invoice financing, the CreditDigital tool positions itself at the point of checkout or on the invoice itself, providing companies with a “pay with CreditDigital” option. Fuel Ventures led the investment round, reports said, with CreditDigital aiming to use the investment to strengthen its product offering and position in the U.K. market.

Validus Capital

Southeast Asia’s alternative small business finance market saw a VC bump this week as well, with Validus Capital announcing $15.2 million in fresh funding, reports in Viet Nam News said. The company, based in Singapore, saw the Series B investment led by FMO, based in the Netherlands. Validus marks its first FinTech investment in the Southeast Asia region, reports said. Validus similarly links investors to small businesses on its platform, though operates in financing areas beyond trade and invoices. The company emphasized its growth trajectory and efforts “to become a digital ‘bank-like’ FinTech for underserved SMEs.”

Cymulate

Cymulate, based in Israel, provides corporate customers with cybersecurity solutions via its Breach and Attack Simulation software. The company raised $7.5 million, a press release said this week, led by Vertex Ventures and Dell Technologies Capital, while Susquehanna Growth Equity and Eyal Gruner also participated. The company will continue to focus on U.S. growth and strengthen its executive staff, while also further building out its platform’s capabilities to automate cybersecurity processes in the enterprise.

WhatFix

The rise in B2B FinTechs has offered organizations more choice than ever to embrace technology, but WhatFix, an India-based startup, is targeting its services toward firms struggling to embrace that tool. The company raised $13.2 million for its service to support adoption of enterprise software, and said it will use the Series B investment to further expand across the U.S. and Europe. WhatFix also plans to double its staff levels and invest in emerging technologies to strengthen its offering. New investors Eight Roads Ventures, F Prime Capital and Cisco Investments participated in the round, while existing backers Stellaris Venture Partners and Helion Venture Partners also signed on as investors again, reports in Inc 42 said.

Gem

Fresh off a rebrand, Gem, formerly known as ZenSourcer, secured $9 million in Series A funding to offer corporate talent professionals a platform with a “single source of truth” of organizational talent and recruiting. The firm launched its Candidate Relationship Management platform while announcing the funding in a press release, noting Accel led the investment. Gem pointed to a tightening labor market and lengthening recruiting cycles that have added friction to human resources teams.

Hibob

Another Israel startup, Hibob, is also operating in the human resources management field. The company raised $20 million in Series A funding this week led by Bessemer Venture Partners, Battery Ventures, Eight Roads, Arbor Ventures and Presidio Ventures, a press release said. Hibib plans to focus on scaling and accelerating growth in the U.S. and Europe with the funds as it offers companies a human resource technology platform to support organizations’ efforts to attract and retain talent.