Today in B2B payments, Axle Payments, GETIDA and Candis announce they’ve raised funds to scale their B2B solutions. Plus, BigCommerce brings cryptocurrency payment solutions to clients in select countries.
Axle Payments Rebrands to Denim Following $126M Series B
Freight and logistics financial enablement platform Axle Payments is rebranding itself as Denim following the close of a $126 million Series B round. The $26 million in equity funds are being earmarked to scale the company’s platform, while the $100 million debt financing will go toward providing working capital to freight brokerages and field product expansion.
GETIDA Announces Strategic Investment for Its Platform for Amazon Sellers
Auditing and reconciliation services firm GETIDA, which helps Amazon sellers get the best profitability possible, has announced it has received an investment that will allow it to grow and diversify. GETIDA CEO Eytan Wiener said in a press release, “GETIDA now has significant capital and resources to further build out our technology and enter new global markets, while also being able to offer our platform users additional savings in areas beyond Amazon.”
German Software Firm Candis Raises $16M to Expand AP Automation
German accounts payable (AP) automation software provider Candis has reportedly raised $16 million in funding and said it will use the new investment to continue to expand. The platform has recorded 20 billion processed invoices — a ninefold increase in two years, Tech Funding News (TFN) reported. Candis will also use the funding to launch company credit cards, expanding its comprehensive solution to cover everything from purchase to payment.
BigCommerce Advances Crypto Payments with BitPay, CoinPayments
Open SaaS eCommerce platform BigCommerce is bringing cryptocurrency payment solutions to its clients in select countries through strategic partnerships with the crypto app BitPay and the global crypto payment gateway CoinPayments. BigCommerce Chief Sales Officer Marc Ostryniec said in a press release, “A new era of consumers are passionate about transacting using crypto, and we’re helping them do it.”
Cloud Banking Firm nCino, Codat Team on SMB Loan Underwriting
Codat, an application programming interface (API) for small business data, will be partnering with nCino, a cloud banking firm, to automate and accelerate the ways banks can underwrite small business loans. NCino’s services help cut down the time it takes banks to transfer information from a borrower’s financial statements into the bank’s financial analysis program. By partnering with Codat, it will be able to add more efficiency to underwriting loans.
Alibaba.com Launches $750K Manifest Grants Program for US SMBs
B2B eCommerce market Alibaba.com has rolled out its second annual small business grants program. Called the Alibaba.com Manifest Grants Program, the $750,000 fund will promote innovation in U.S. small and medium-sized businesses (SMBs) and boost competition. The grants are in partnership with Hello Alice, a free resource for small business growth.
Fulfillment Provider PFS Deploys Pop-Up Center for L’Oréal’s SkinCeuticals Brand
eCommerce order fulfillment provider PFS has set up a pop-up fulfillment center for L’Oréal’s SkinCeuticals brand. When SkinCeuticals — which isn’t a current PFS order fulfillment client — had a loyalty merchant program needing a one-time fulfillment operation, PFS used its RetailConnect product to enable a “quick and cost-effective” pick-pack-shop solution, without any complex integrations.
For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More