Today in B2B payments, 82% of chief financial officers (CFOs) measure accounts receivable (AR) turnover to gauge success, while GRO Capital closes the GRO Fund III. Plus, Indonesian B2B marketplace Ralali is valued at more than $168 million after Series D funding effort, and Powered By People raises $5 million in seed funding to add more small brands to its marketplace.
82% of CFOs Measure AR Turnover to Gauge Success
The “Working Capital Playbook,” a PYMNTS and YayPay collaboration, found that 82% of chief financial officers (CFOs) measure accounts receivable (AR) turnover to gauge their success in raising customers’ overall value. Delays or errors in the AR process can have colossal ripple effects, as firms often lack the free capital to ensure timely payroll, vendor payments and a host of other necessities that could quickly spiral out of control.
GRO Capital Closes $662.25M GRO Fund III
GRO Capital has closed its northern European B2B software-focused fund GRO Fund III K/S, continuing the investment strategy pursued in prior funds, with a focus on accelerating the growth of mature software companies within the Nordic region, DACH and Benelux. The fund, which has a 600 million euro (about $662.25 million) hard cap, earned financial backing from many of GRO’s existing investors and welcomed new investors.
B2B Marketplace Ralali Closes First Series D Tranche
Indonesian B2B marketplace Ralali has wrapped the first tranche of its Series D funding round, raising an undisclosed amount. It remains open to strategic partnerships with companies in the banking, logistics, point-of-sale and application programming interface (API) industries. Ralali will use funding to provide more services for its customers. The company raised around $11 million in February, bringing its valuation to more than $168 million.
B2B eCommerce Platform Powered by People Raises $5M
Kenya-based B2B eCommerce platform Powered by People has raised $5 million in seed funding, which it will use to increase its transaction volume by adding to the number of small brands using its marketplace to connect with international buyers. The company works with more than 200 brands and 45,000 artisans from 47 countries, who sell to retailers like West Elm and The Citizenry, across major markets including in North America and Asia.
Mastercard Teams with HSBC for New B2B Cash Flow, Payments Solution
Mastercard has partnered with HSBC in the U.K. to launch a new B2B payment solution for cash flow management and expanded payment options. The Mastercard Track Card to Account Transfer enables businesses to use their commercial card program to make payments to any supplier, even if a supplier doesn’t accept card payments. The new solution aims to help businesses better manage cash flow while also getting rid of manual processes and offering comprehensive payment alternatives.
B2B Finance Platform Ramp Grabs $750M for $8.1B Valuation
Finance automation platform Ramp grabbed $750 million in financing to bring its valuation to $8.1 billion. Ramp has more than 5,000 businesses on its platform and powers more than $5 billion in annualized payments volume. The company launched B2B payments tool Bill Pay and Ramp for Travel last year.
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