Today in B2B payments, TradeDepot pushes for growth across Ghana after acquiring Green Lion, and Bosch buys a 26% share of Autozilla. Plus, TreviPay acquires B2B payments network Baton.
TradeDepot Targets Growth in Ghana with Green Lion Acquisition
Nigerian B2B marketplace TradeDepot on Wednesday (Feb. 23) acquired Ghana-based competitor Green Lion for an undisclosed amount as part of a plan to expand into that neighboring African nation, according to a Yahoo! Finance report.
TradeDepot, which only had a presence in Ghanaian capital Accra before the acquisition, is now looking to speed up its growth in that country through Green Lion’s expertise in data, technology and logistics that are used to connect neighborhood retailers to suppliers. Customers will also have access to loans and buy now, pay later (BNPL) support embedded in the company’s ShopTopUp platform.
Tabit Launches Canada’s First B2B BNPL POS Service
Tabit, a Canadian company billing itself as the country’s first point-of-sale buy now, pay later (BNPL) offering for the B2B space, began operations Wednesday (Feb. 23).
Tabit works with small businesses to give them payment options by integrating a card offering at point of sale, powered by the Canadian small business financier Merchant Growth. Founder and CEO David Gens said in a news release that newer generations of small businesses owners are increasingly valuing BNPL solutions and their ability to boost their purchasing power without needing up-front capital.
TreviPay Acquires B2B Payments Network Baton
Payment and credit management company TreviPay has acquired B2B invoice payments network Baton Financial Services as part of its plan to broaden its B2B offerings.
TreviPay said the acquisition will let it offer trade credit to customers without the risk, delay in payments and complexities connected to with managing accounts receivable. Baton CEO Rissi Lovern will become TreviPay’s new chief risk officer as part of the acquisition.
Indian BNPL Startup Actyv.ai Raises $5M
B2B buy now pay later (BNPL) startup Actyv.ai, which touts itself as an enterprise Software-as-a-Service (SaaS) “low-code no-code platform … used by large enterprises to transform their supply chains and to empower their partners with an intuitive platform and financial products,” has raised $5 million in a Pre-Series A funding round, saying the money would allow it to scale and expand globally.
Actyv.ai’s platform helps enterprises to leverage existing IT systems to access working capital while giving banks qualified small to medium-sized business (SMB) data to extend in B2B buy now, pay later (BNPL) credit programs.
Bosch Buys 26% Stake in India’s Autozilla
Electronics company Bosch has acquired a 26% stake in India’s Autozilla to expand into the country’s digital B2B auto parts aftermarket. Bosch will integrate Autozilla’s eCommerce platform with its own to boost the quality of catalog searching and streamline spare parts ordering as part of the investment.
Telangana, India-based Autozilla is a B2B eCommerce marketplace platform for spare auto parts, tools, garage equipment and accessories. Its platform uses artificial intelligence and data analytics to make spare part discovery more efficient, determine availability and pricing, and match garages with sellers.
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