Today in B2B payments, Mastercard teams up with Invoiced to deepen the connection between accounts payable and accounts receivable, while Amazon Business Prime announces an InsurTech partnership. Plus, PayFit secures funding for its payroll technology, Sapiens collaborates on healthcare B2B payments and SPACs raise a record-breaking quarterly sum.
Invoiced, Mastercard Team on SMB Reconciliation
PayFit Notches About $108 Million For SMB Payroll Tech
PayFit landed €90 million (approximately $108 million) in Series D funding to further its aim to streamline payroll and human resource management for every European small to medium-sized business (SMB), according to a Wednesday (March 17) announcement. BPI France, Large Venture and Eurazeo Growth headed up the investment round, which saw participation and support from current investors such as Frst, Accel and billionaire Xavier Niel, according to the announcement.
Next Insurance Teams With Amazon Business Prime On Small Business Insurance
Sapiens, ECHO Work On Digital Healthcare Pay
Sapiens International Corporation, which works in global software solutions for the insurance industry, will be working with ECHO Health to give carriers a new digital payment solution through a singular portal, a Wednesday (March 17) press release said. ECHO works in the insurance industry to provide digital services for healthcare, workers’ compensation, and property and casualty, among other insurers.
SPACs, Or Blank-Check Companies, Raise Record Quarterly Amount
The use of special-purpose acquisition companies (SPACs) to go public boomed in 2020. The growth of these blank-check companies has exploded even more in the first quarter of this year. Reuters reported that so far in 2021, SPACs have already raised more than the $83.4 billion that they raised in all of 2020. That’s according to SPAC Research, an industry tracker.
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