B2B Payments

Latin America Entices B2B FinTech Investors

It was a big week for B2B FinTech startups in Latin America.

Supply chain financing company Greensill revealed its acquisition of Colombia-based Omni, a small- to medium-sized business (SMB) lender that will enable Greensill to strengthen its Latin American footprint.

"Latin America is a highly attractive growth market for us, and the acquisition of Omni will significantly expand our capabilities in this important region," the firm's Founder and CEO Lex Greensill said in a statement.

It's an attractive market indeed for investors, with not one, but two Brazilian B2B FinTechs making this week's venture capital roundup. And while it wasn't the most active or lucrative week for the market — more than $58 million in total funding was announced in recent days — additional FinTech funding rounds are on the horizon. FTV Capital recently announced that it has closed its sixth fund, and totaling $1.2 billion in capital commitments, it’s the growth equity firm's largest to date.

Until then, PYMNTS rounds up the most recent B2B FinTech investment rounds below.

Authenticiti

Blockchain-based supply chain management technology firm Authenticiti did not reveal in a press release how much it raised when it announced its new funding this week led by Gravity Ranch, while Hold Ventures, SRI International and existing backer Scopus Ventures also participated. In a statement, HOLD Ventures Partner Meg Paulus pointed to the startup's ability to tackle "enormous amounts of redundancy and cross-checking in supply chains today," adding that the market is particularly ripe for organizations to embrace a supply chain "reset." Authenticiti did not say what it plans to do with the funding.

BizCapital

Brazil-based BizCapital landed $12 million in fresh funding, according to a recent press release, with the Series B round led by Germany-based financial institution DEG. BizCapital targets SMBs in the market with an online platform for companies to access working capital. The new funding, the company noted, will enable the firm to expand throughout Latin America as it steps in to support the region's SMBs amid the pandemic. In addition to DEG, MELI Fund, the Corporate Venture Capital Fund of MercadoLivre, also participated, the release said.

Remessa Online

Also based in Brazil, Remessa Online secured $21 million in funding, Contxto reported this week, with investors backing the FinTech's B2B money transfer offering. Kaszek Ventures led the round, while Bewater Ventures and Kevin Efrusy also participated. Remessa Online had previously only focused on consumer cross-border money transfers, but the report noted that the new funding will enable the company to expand into the B2B arena with a focus on SMBs.

Botkeeper

Accounting automation startup Botkeeper secured $25 million led by Point72 Ventures, while High Alpha Capital, Republic Labs, Oakridge, Peak State, Ignition Partners, Greycroft Partners, Gradient Ventures and Sorenson Capital also participated in the Series B funding round. A report in Venture Beat said Botkeeper plans to "double down" on its product development and engineering capacity, according to the startup's Founder and CEO Enrico Palmerino. Botkeeper is able to streamline accounting processes through its automation technology as well as integration capabilities with banks, payroll platforms and other sources of financial data to support businesses' spend management, reconciliation, bill payment and other accounting tasks.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

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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