B2B Payments

Procurement, Digital Banking See VC Funding Rounds

Venture capital funding focused on Software-as-a-Service tied to procurement and purchasing, as well as improving cash flow for companies as they streamline payments and supply chain visibility. Digital banking also attracted investor dollars, as Neobanks operating on the continent (and across borders) were in the spotlight.

Venture capital funding rounds this week showed some concentration on the continent, with several announcements tied to Europe. Drilling down into the particular verticals of the relatively young, tech-savvy firms that drew investor dollars, Software-as-a-Service (SaaS) and platform-focused companies announced investments, as well as intent to expand operations. Supply chain and Neobank firms were among those gaining financial backing, with cross-border trade for small businesses making the list, too.

Negotiatus

SaaS firm Negotiatus said this week that it garnered $10 million in a Series A funding round, led by Rally Ventures. Additional participation came from ERA, 645 Ventures, Stage 2 Capital and Green Visor Capital.

The company said that the latest funding round brings cumulative fundraising to $20 million. The firm’s offerings seek to optimize and streamline purchasing and procurement activities. Negotiatus operates through a platform model, where buyers and sellers can shop and track delivery information across various supplies. Back-office functions, such as order requests and approvals, are centralized for companies. Negotiatus said it has 300 customers.

Shippeo

In the supply chain management and visibility space, Shippeo, which operates in Europe, raised €20 million ($21.7 million USD) in a Series B funding round, led by NGP Capital and ETF Partners. Additional participation came from Partech and Bpifrance Digital.

The company’s artificial intelligence (AI)-based platform aggregates data across hundreds of sources to provide better visibility in the supply chain, and estimates arrivals with greater accuracy. Shippeo said it has 50 large corporate customers across 40 countries, and estimated the market it serves to be worth $6 billion.

Starling Bank

In the U.K., digital bank Starling Bank said it raised £60 million (more than $ 78 million USD) in funding. Among the investors in this round were JTC and Merian Global Investors, the latter of which led previous rounds last year. The total raised to date tops £320 million.

Starling Bank said the funding will be used to expand operations and award shares to its employees. Product and service offerings span consumer and business accounts across Android and iOS. The firm also has a platform with in-app access for third-party financial services. The company said it has 1.25 million accounts across individuals and businesses.

EasyEuro

EasyEuro, which has operations in China and Paris, announced that it has raised $4 million in a funding round led by Ally Capital in Shanghai. Additional funding came from Seed investors, such as SwiftPass, Huashan Capital and others.

The company is focused on offering a Neobank for small businesses that trade between the continent and Asia. Trade volumes between the regions was worth more than $320 billion in 2018. The company provides digital wallet services for these small businesses, and various payment methods — spanning Visa, Mastercard and Alipay, among others — can be linked to EasyEuro accounts. The funds will go toward product development and the firm’s expansion.

CybelAngel

CybelAngel, a risk management and cybersecurity startup based in France, raised the equivalent of $36 million in Series B funding. The investment round was led by Prime Ventures, and total funding to date has come to $52 million. The new funding will be tied to global expansion and the development of the company’s SaaS AI-driven platform, focused on threat intelligence and digital risk management.

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