Accounts Receivable, Accounts Payable Emerge As Lucrative VC Targets

Though it was not the most lucrative week for B2B FinTech funding, the latest investment rounds came from a variety of markets, including Saudi Arabia and Sweden. Newly backed technologies include solutions for the accounts payable (AP) and accounts receivable (AR) side of B2B transactions, small business financial management and financing, with news of an upcoming funding round on the way for an SMB-focused challenger bank.

VoM

Saudi Arabia’s VoM operates as an accounting and electronic invoicing solution for small and medium-sized businesses (SMBs) in need of cloud-based, automated financial management tools. The company has secured $670,000 in pre-seed funding provided by angel investors, Wamda reported. While the company did not disclose what it plans to do with the funding, reports said the firm will continue to help digitize and automate small businesses through Big Data technologies.

Gravy

Targeting businesses with a subscription model, Gravy helps companies in both the B2B and B2C space recover failed recurring payments. The firm has just announced $4.5 million in Series A funding for the technology. In an announcement on its website, the firm said Arlington Family Partners led the investment. The new funding will go toward expanding its staff, investing in client acquisitions and further building out its product as it explores broadening its technology to new use cases, including businesses that are struggling with voluntary churn and customer service.

Billhop

Sweden’s Billhop has raised $4.83 million in funding for its corporate payments solution designed to enable businesses to pay invoices via credit card. The company secured the Series A investment from VC Element Ventures, reports in Tech.eu revealed, noting that Billhop plans to deploy the investment to invest in sales and marketing teams as well as product development, as its solution enables firms to use credit cards to pay bills without forcing the supplier to accept cards.

Mundi

Based in the U.S., Mundi is operating in the trade finance space to help businesses in Mexico expand their export operations. The company has just secured a $7.8 million seed funding round led by Base10, reports in JOC.com said. FJ Labs and angel investors also participated. As Mundi continues its focus on the Mexican market, it will reportedly also look to collaborate with freight forwarders to strengthen cash flow throughout supply chains.

Trade Ledger

With $18.85 million in Series A funding recently announced, U.K.-based Trade Ledger is looking to invest in sales, marketing and customer delivery operations as it continues to focus on growth this year. The company operates a solution for small business lenders to access key data to bolster their own underwriting operations, with a focus on trade finance. Investors at Point72 Ventures led the equity round, while Foundation Capital and other backers also participated, the company announced.

Abound

With B2B eCommerce on the rise, investors continue to show interest in the market. The latest in the industry to secure funding is Abound, an online wholesale marketplace for retailers to procure stock. The U.S.-based company announced $22.9 million of what TechCrunch said is its first institutional fundraise. The company connects retailers to wholesalers with support for free returns and the option to facilitate 60-day payment terms. Left Lane Capital led the investment round, while RiverPark Ventures, All Iron Ventures and Red Antler also participated. Reports said the company plans to use the investment to expand its team, grow across borders and continue focusing on product development.

Up Ahead: Cashplus

Though the funding hasn’t officially been secured, U.K.-based Cashplus, a neobank targeting SMBs, is reportedly looking to raise $69 million to bolster its small business lending operations. Reports in Reuters said the firm, which secured a full banking license only weeks ago, will pursue equity from growth investment firms in what would be its first external investment beyond Trident Capital, its main shareholder.