Today in B2B payments, Payoneer taps Mastercard for small business digital solutions, and Beanworks boosts its accounts payable technology with artificial intelligence. Plus, TimeSolv pushes to eliminate accounts receivable, NuORDER lands funding for its B2B eCommerce solution and investors back Pipe’s corporate finance tool.
Payoneer Teams With Mastercard On Digital Solutions For SMBs
Payments provider Payoneer Inc. and Mastercard will collaborate to better serve the business-to-business (B2B) market, starting with the Payoneer Digital Purchasing Mastercard, according to a Wednesday (March 10) announcement. “This partnership with Mastercard is an essential step in providing our customers with another easy way to access and spend their funds from marketplace sales and B2B commerce,” Payoneer Chief Strategy Officer Charles Rosenblatt said in the announcement. With the rollout of the card, he said, the company’s international client base can make payments for digital advertising and various online services, while also accessing another method to pay vendors.
Beanworks Bolsters Accounts Payable Offering With AI
Accounts payable (AP) automation company Beanworks has debuted its SmartCapture artificial intelligence (AI)-enabled capability, according to a Wednesday (March 10) announcement. “Beanworks is committed to driving innovation and offering our customers the most accurate, efficient and delightful user experiences possible,” Beanworks Co-Founder and CEO Catherine Dahl said in the announcement. “We are thrilled to unveil this artificial intelligence integration to further streamline our customers’ accounting workflows.”
TimeSolv Eliminates Accounts Receivable With Zero AR
TimeSolv, which works in web-based software for legal billing and time-keeping, has announced a new accounting process, called Zero AR, which will boost collection rates and do away with accounts receivable (AR) via batch invoicing and digital payments, according to a press release. TimeSolv’s batch invoicing process allows for payments to be instantly run for as much as hundreds of invoices. The release stated that when integrated with the company’s electronic payments, the process can save time and resources.
NuORDER Raises $45 Million Toward B2B eCommerce
B2B eCommerce platform NuORDER has raised $45 million in a funding round, according to a press release on Wednesday (March 10). The round was led by Brighton Park Capital and Imaginary Ventures. The press release said this round was “a testament to the acceleration of digital buying and selling over the past twelve months and signals future growth opportunities that exist within the multi-trillion-dollar B2B market.”
Pipe Raises $50 Million To Streamline Companies’ Access To Financing
Recurring revenue trading platform Pipe announced this week it has raised $50 million in strategic equity funding. Participants in this latest funding round include Raptor Group and Siemens Next47, along with Shopify, Slack, Hubspot, Okta, Chamath Palihapitiya, Marc Benioff, Michael Dell’s MSD Capital, Republic, Alexis Ohanian and Joe Lonsdale. This funding round brings the total raised equity to $66 million, money that will be used to expand Pipe’s footprint around the world and build on investor partnerships.
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