PrimeRevenue has been widening its scope of business financial services as of late. The company announced in March a new platform to help B2B companies access discounts and financing products, tools that add to PrimeRevenue’s existing supply chain financing and spend analytics services.
On Wednesday (July 29), the firm announced yet another addition to its suite of services with the launch of PrimeRevenue Capital Management. According to the company, the venture offers a platform for companies to access alternative funds and for investors looking for new opportunities.
“As one of the largest originators of trade assets, we are revolutionizing the market once again, allowing businesses to select from a broader pool of capital that they have not traditionally had access to,” said PrimeRevenue CEO PJ Bain in a statement. “It is also the first time that mid-market and sub-investment grade companies get access to working capital finance.”
The new unit will be led by Richard Tynan as managing director, the company said.
“Given the current constraints in the international banking system and importance of supporting the growing demand for working capital finance solutions, it became imperative to develop mechanisms for investors to participate in these supply chain finance programs,” the new head of PrimeRevenue Capital Management said.
The supply chain finance industry and the alternative lending industry alike are expanding at impressive rates. According to researchers, the supply chain finance industry could be worth as much as $46.5 billion already. Analysts at BCR also found that while supply chain finance was once an area for mainstream banks, alternative financers and other players like PrimeRevenue are starting to take the lead.
PrimeRevenue also recently nabbed a multimillion dollar investment for its cash flow management services. BBH Capital Partners provided $80 million in funding to the company in April to support the company’s efforts of getting suppliers paid faster.
[vc_row full_width=”” parallax=”” parallax_image=””][vc_column width=”1/1″][/vc_column][/vc_row][vc_row full_width=”” parallax=”” parallax_image=””][vc_column width=”1/1″][vc_separator color=”grey” align=”align_center” style=”” border_width=”” el_width=””][vc_single_image image=”150712″ alignment=”center” style=”vc_box_shadow_3d” border_color=”grey” img_link_large=”” img_link_target=”_blank” css_animation=”left-to-right” img_size=”full” link=”http://www.pymnts.com/tag/b2b-payments/”][vc_column_text]
To check out what else is HOT in B2B, click here.
[/vc_column_text][vc_separator color=”grey” align=”align_center” style=”” border_width=”” el_width=””][/vc_column][/vc_row]
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More