Today in B2B payments, Biller is joining Banking Circle’s financial services, and today’s chief financial officer is focusing on scaling businesses and making data-driven decisions. Plus, Keo World snags $500 million for B2B financing expansion, and two-thirds of businesses collect credit info on new suppliers.
B2B BNPL Firm Biller Joins Banking Circle
Luxembourg’s Banking Circle said artificial intelligence (AI)-driven buy now, pay later (BNPL) business invoice firm Biller is joining its “ecosystem” of financial services. Amsterdam-based Biller’s payment method lets business buyers make orders online and pay by invoice, performing fraud and credit checks in real time. Anders la Cour, CEO of Banking Circle Group, said his bank is adding more capabilities to meet the rising demand for modern financial solutions as companies increase digitization of customer and supply chain interactions.
Today’s CFO Focuses on Scaling Business, Making Data-Driven Decisions
Avi Israel, CFO of cloud infrastructure security company Ermetic, told PYMNTS his company will be building “the infrastructure to support rapid growth and [using] data to measure all aspects of the business.” Last month, Ermetic raised $100 million in Series B funding. The cybersecurity industry in which Ermetic works achieved another new all-time high last year, and that segment will probably remain a leader within the Software-as-a-Service (SaaS) sector, Israel said.
Keo World Nets $500M to Expand B2B Supply Financing in Mexico
Buy now, pay later (BNPL) FinTech Keo World has announced a seven-year debt facility of up to $500 million from asset management firm Hayfin Capital Management, helping the company increase its purchasing power for small- to medium-sized businesses (SMBs). Keo World, which was founded in 2020, issues Keo American Express Virtual Cards and credit lines with a digital approval process for SMBs. Retailers can offer BNPL to their customers for B2B “instantly” through American Express.
66% of Businesses Collect New Suppliers’ Credit Information
Two-thirds of businesses collect new suppliers’ credit information, and almost half (45%) collect data on suppliers’ past financial performances, according to the “Innovating B2B Retail Payments Playbook,” a PYMNTS and MSTS collaboration. Details like these help vendors ensure that new suppliers can pay on time and in accordance with contract terms, which is especially important when payments fraud comes in many forms and from many different places.
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