Logistics Tech Leads B2B FinTech Into A Booming Funding Week

As the year winds down to a close, the B2B FinTech startup community is heating up once again with one of the busiest weeks in funding the market has seen in some time. Investors targeted an array of B2B solution providers, including cross-border B2B trade management, supply chain optimization and enterprise digitization firms. But it was a logistics solution provider that took home about three-quarters of the nearly $380 million raised by B2B players this week.

Reposite

Liberty City Ventures recently led a seed round of funding for Reposite to the tune of $2.5 million, Alley Watch reports said. The B2B company works with travel industry professionals to connect travel agents and event planners to travel suppliers, streamlining workflows from supplier discovery through to payments. The company said with the new funding it plans to invest in revenue growth, platform engagement and expansion of its overall user base.

Tazapay

Trade management platform Tazapay targets small and medium-sized businesses (SMBs) with solutions designed to mitigate risk in cross-border commerce. The company recently announced a $3.2 million investment round led by Sequoia Capital India’s scale up program Surge, along with Saison Capital. The Singapore-based company aims to inject trust in the global B2B trading arena, and with the new investment, plans to invest in talent acquisition and its expansion into new markets across Southeast Asia.

Fylamynt

With $6.5 million in seed funding, California-based Fylamynt has announced its formal launch on the market. The company is a cloud automation solution provider allowing engineering firms to access no-code solutions to automate workflows. Gradient Ventures led the investment round, according to a press release, while Mango Capital and Point72 Ventures also participated. In a statement, Fylamynt CEO and Co-Founder Pradeep Padala said, “Automation is key to operating enterprise SaaS at scale with high availability, but the bottleneck in building automation is writing code.” The company said it will use the seed investment to add to its research and development (R&D) team, as well as to execute on its go-to-market strategy.

Altana

With $7 million in seed funding, Ireland’s Altana is looking to help develop more resilient and risk-averse supply chains. Amadeus Capital Partners led the investment round for the FinTech, which empowers supply chain professionals to wield data to access actionable insights. Reports did not indicate how Altana plans to deploy the investment.

Ankorstore

Paris-based Ankorstore operates a B2B eCommerce market that just attracted a $30.5 million Series A investment round from Index Ventures, recent TechCrunch reports said. Existing backers GFC, Alven and Aglaé also participated, reports noted. Ankorstore operates a wholesale online marketplace to connect small buyers with suppliers across a variety of product categories. The platform also automates B2B payment workflows, allowing buyers to procure from multiple vendors while streamlining financial transactions. Reports said the company, which is live in eight markets across Europe, plans to expand into the U.K. next year.

GoSite

Targeting small and medium-sized businesses migrating their operations online, GoSite is positioning itself to ease friction of the digitization journey through solutions like website development support, payments, marketing, accounting and other functions. The company, based in California, recently announced a $40 million investment round led by Left Lane Capital, with Longley Capital, Cove Fund, Stage 2, Ankona Capital and Serra Ventures also participating in the Series B investment, TechCrunch reported.

ShipMonk

Based in Florida, logistics technology firm ShipMonk targets SMB eCommerce solutions with shipping and other supply chain management tools. The company secured the top spot in this week’s venture capital roundup thanks to Summit Partners, which led a $290 million investment round in the company. According to TechCrunch reports, ShipMonk plans to deploy the funding to invest in its automation capabilities, grow its staff and expand across borders.