B2B Payments Today: Bringing Efficiency to Chemical Sales; PayEm, Clicklease Rake in Funding

Today in B2B payments, PrimeRevenue enhances tools for receivables, and the global chemistry industry is primed for a digital overhaul. Plus, PayEm eyes growth with $27 million in funding, Easebuzz simplifies SMB payments and Clicklease raises $63 million to accelerate digitization.

‘Hyper-Growth’ and Global Demand For Spend Management Luring Investors to B2B

PayEm has raised $27 million in funding that it plans to use to further grow its global spend management and procurement platform. The company experienced what leaders called “hyper-growth” in the second quarter, delivering a four-fold increase in its portfolio.

The company plans to use the new money to expand its product offering, add new features, extend its global reach and double its headcount by the end of 2021, up from 40 employees. PayEm is targeting a staffing increase to over 200 employees by the end of 2022.

Clicklease Lists Sandlot as Investor in Series A Round

FinTech company Clicklease, which provides financing solutions to equipment sellers and their customers, has ended a Series A funding round with $63 million in new money that it will use to speed up digitization.

Services offered from Clicklease have disrupted the commercial micro-ticket equipment finance space and aim to deliver instant approval and same-day funding. The release noted that Clicklease has enabled payment solutions for small and medium-sized businesses (SMBs) across the credit spectrum.

It’s All About Buyer/Supplier Chemistry as B2B Chemical Marketplace Heats Up

The inefficient sales cycles in the chemical industry can be improved considerably, ChemDirect CEO Tyler Ellison told Karen Webster, with two-sided automated, direct and digital marketplaces that bring buyers and sellers online in an experience that changes not just sourcing and price discovery, but the entire procurement process.

ChemDirect’s genesis stems from Ellison’s time as CEO of a chemicals manufacturing company that led to frustration with lack of visibility into end markets and the multiple steps involved in getting orders in place.

Easebuzz Debuts Service Simplifying SMB Payments

Digital payment solution provider Easebuzz now offers the EasyCollect application programming interface (API), a new way to simplify payments for smaller businesses’ online payments so they can safely execute transactions, a company press release says.

EasyCollect allows users to create and share payment links on the go, automate payment reminders and send auto-generated invoices.

Working Capital FinTech PrimeRevenue Boosts Receivables Finance Tools

Working capital FinTech PrimeRevenue is augmenting its receivables finance solutions to enable financial institutions to broaden their programs for receivables, a feature that is a unique tool in the market, according to a press release on Tuesday (Aug. 31).

The latest enhancements aim to negate human error regarding compliance, inconsistent payment terms, time-consuming reconciliation processes and more.