Today in B2B payments, FloorFound raises $10.5 million, while Gaviti and Sage team on accounts receivable (AR) automation. Plus, Alloy debuts its B2B software integration tool, Zhangle Global launches a cash pro management tool, and Bectran rolls out a tool to help the construction industry file and track liens.
FloorFound Nets $10.5M to Expand Its reCommerce Platform
reCommerce company FloorFound has gotten $10.5 million in Series A financing that it will use to expand the its market presence in the U.S. and add new retail verticals for appliances, mattresses and exercise equipment. The money comes as there has been more interest in the reCommerce solution, or the recovery and resale of lightly used or returned items that have been removed from the box.
Gaviti, Sage Team on AR Automation
AR automation system Gaviti is partnering with accounting, financial, HR and payroll firm Sage to better manage invoices. The tie-up will see Gaviti integrating its account with the Sage Intacct cloud management system, which will let customers of both companies streamline their user collection processes and bolster businesses’ overall cash flow.
Alloy Debuts Its B2B Software Integration Solution, Alloy Embedded
Integration and automation platform Alloy has rolled out Alloy Embedded, which enables software companies to fast-track integration. Alloy Embedded will offer several services, including reduced integration development, saving time and money. It needs no code for non-technical teams and will have seamless, unbranded, native integration experience, so merchants can access their integrations any time.
China’s Zhangle Global Debuts Cash Pro Management Tool
Huatai International announced that Zhangle Global has released Cash Pro, a new cash management service designed to help investors with a new low-risk and liquid option. Cash Pro will offer “the flexibility of earning dividend” through investing cash holdings in a fund, while waiting for the best timing to enter the market. Investors will be able to activate this from the Zhangle Global app’s Wealth interface. It will then put idle funds into Cash Pro on every trading day, meaning they are subscribed to a fund linked to Cash Pro with the goal of earning daily dividends.
Bectran Launches Lien Filing and Tracking Product for Construction Industry
Bectran, which works in credit, collections and AR software, has debuted a new solution to help with lien filing, monitoring and streamlining AR work. This will organize and transmit contractor job information directly to lien service providers and get rid of manual processing. The solution is intended to digitize the process and lower the costs of lien management for corporations, letting businesses fully automate the entire process.
Collaboration Lowers Risk of B2B Payments Fraud
Thirty-eight percent of chief financial officers (CFOs) are responsible for IT departments, but many finance departments operate separately from their IT counterparts, as reported in the “FinTech Risk Management Playbook,” a PYMNTS and nsKnox collaboration. This data indicates a potential disconnect between enterprise finance and IT departments and a potential weakness for cybercriminals to exploit. Both departments must work together to secure company infrastructure and back-office operations, including the interfaces between the front- and back-office workflows and employee devices.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More