Today in B2B payments, BlueVine discusses its vision for the intersection of small business credit and banking, while Sage announces its next acquisition target. Plus, Linklogis plans its IPO, NASA launches a small business fund, and Loren Data offers a defense of legacy EDI technology.
BlueVine’s Allocca: SMB Growth Demands New Vision For Loan Underwriting
Linklogis Plans IPO, Aims At $1.1 Billion For SCF Tech
Linklogis, a Chinese FinTech with backing from Tencent, is looking to raise 8.3 billion Hong Kong dollars ($1.1 billion) from an initial public offering (IPO) in Hong Kong, Bloomberg reported. Linklogis provides tech solutions for supply chain finance in China. The company, based in Shenzhen, is selling 452.9 million shares at 16.28 Hong Kong dollars to 18.28 Hong Kong dollars ($2.10 to $2.35) apiece, according to the report. The share sale attracts six cornerstone investors agreeing to subscribe to a total of $365 million in stock.
Sage Buys Task Sheriff To Boost AI Proficiency
NASA Bolsters SMB Program With $45 Million Investment
NASA has awarded $45 million in early-stage funding to more than 300 U.S. small- to medium-sized businesses (SMBs) for research operations on an accelerated schedule to help offset the impact of the pandemic on the enterprises, according to a press release. The funding came from the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) program, the release stated.
In Defense Of The Legacy Technology Of EDI
Amid B2B commerce and payments modernization, critics argue that a 50-year-old technology such as electronic data interchange (EDI) is too outdated to support the exchange of data between enterprises. Loren Data CEO and Founder Todd Gould argues that EDI’s long history is what makes it so valuable today.
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