Today in B2B payments, Connected Capital raises $176 million, while Tribal closes a $60 million funding round. Plus, online portals bring commercial real estate into the digital age, almost nine out of 10 businesses that sell on marketplaces get their payouts through them, and Bitcoin Well makes the business case for cryptocurrency.
Connected Capital $176M Funding Focused on European B2B SaaS Startups
Amsterdam-based B2B Software-as-a-Service (SaaS) investment firm Connected Capital has closed its oversubscribed Fund II at 154 million euros (about $176 million), bringing its total committed capital to more than 200 million euros (about $228.5 million). Connected Capital’s newest funding is three times the size of its previous funding. The company has closed nine platform investments in Europe since being founded in 2017.
B2B Payments Platform Tribal Snags $60M in Funding
B2B payments and financing platform Tribal has closed a $60 million Series B fundraising round, led by SoftBank Latin America, bringing its total investment to $140 million. Tribal, which has customers in two dozen countries, will use the fresh capital to add more. The company raised $40 million last month in a debt round from the Stellar Development Foundation, adding a stablecoin USDC into the Tribal ecosystem. The company plans to launch its own cryptocurrency later this year.
Online Portals Bring Commercial Real Estate Payments Into the Digital Age
A PYMNTS study noted that 91% of chief financial officers (CFOs) within the real estate space cited accounts receivable (AR) digitization as a top priority. Making the transition away from paper checks can present notable challenges for property managers, since many are still dependent on legacy payment infrastructure that may be incompatible with emerging digital payment tools. In The Treasurer’s Guide To AR Payment Optimization Tracker®, PYMNTS analyzes how payment needs within the property management space are changing, and why selecting the right payment partner can be vital to addressing some of the obstacles payment managers face when innovating their AR and accounts payable (AP) processes.
88% of Businesses Selling on Marketplaces Receive Payouts Through Them
Almost nine out of every 10 businesses (88%) that sell their products on a digital marketplace are paid through the marketplace, according to Marketplaces As Retail’s New Front Door, a PYMNTS and Visa collaboration based on a survey of 1,049 small sellers. The rest are paid directly by the buyers. The small- to medium-sized businesses (SMBs) in PYMNTS research are the most likely to be paid through the marketplaces on which they sell, with 86% of small businesses and 100% of medium-sized businesses receiving payouts that way.
Bitcoin Well CFO on the Business Case for Crypto
Allen D. Stephen, finance chief at Bitcoin Well, said bitcoin can be a vehicle for financial independence and is going to be around a long time. That’s why his company is exploring new ways to make the bitcoin experience easier for B2B customers, including B2B bitcoin ATMs and increased participation in programs that let employees allocate a portion of their earnings to buy bitcoin.
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