Today in B2B payments, TurnKey Lender and VoPay collaborate to digitize lending, while TreviPay and Compaynet partner on trade credit. Plus, cryptocurrency treasury management platform Coinshift raises $15 million in a Series A funding round, and fashion supply chain platform Fashinza grabs $100 million in a Series B funding round.
TurnKey Lender, VoPay Team to Digitize Lending
Canadian integrated payment technology company VoPay has launched a partnership with unified lending management company TurnKey Lender to provide lenders with fully digitized end-to-end process automation. The companies said with their integrated technology, lenders can eliminate errors and the time they spend on manually processing loan payments and reconciliation.
TreviPay Helps Compaynet Power B2B Trade Credit
B2B payment and credit management company TreviPay has teamed up with payment processor Compaynet to power its B2B trade credit product. By working with TreviPay, Compaynet — based in the U.K. and Italy — can now offer an embedded trade finance solution to these B2B customers, letting them offload accounts receivable (AR) administrative functions, funding and credit risk so that they can spend more time focusing on their business.
Crypto Treasury Management Firm Coinshift Raises $15M
Crypto treasury management company Coinshift has raised $15 million in a Series A funding round and is set to launch a new version of its platform. The Wyoming-based company launched in June 2021 and said it manages more than 1,000 crypto safes, $1.3 billion in assets and $80 million in payouts for organizations that include Consensys, Messari, Biconomy, Uniswap, Perpetual Protocol and Balancer.
Fashion Supply Chain Platform Fashinza Raises $100M
Fashinza, a B2B marketplace/supply chain platform for fashion brands and retailers, has raised $100 million in a Series B funding round. The company said it will use the capital to expand its presence around the globe and invest in supply chain technology. It hopes to monetize FinTech offerings, expand into raw material procurement and create a sustainable supply chain by 2030 and Industry 4.0 solutions for small- to-medium-sized business (SMB) manufacturers.
Vouchers Gain Popularity as a Way for Companies to Show They Care
As companies navigate a world in which pandemic restrictions are being lifted, some are returning to in-person workplaces, while others are embracing hybrid or remote work models. Uber for Business reported that customers have been using its Vouchers program to incentivize and reward customers, guests and employees by paying for rides with Uber and food deliveries with Uber Eats.
PYMNTS Intelligence: How Invoice Processing Automation Works to Streamline Workflow
Time, labor, errors and fraud risks form the foundation of the case against manual invoice processing. One study determined that lengthy invoice and payment approval processes were accounts payable (AP) leaders’ top challenge, cited by 60% of those surveyed, and 31% said these processes involved too much paper. A total of 88% of AP professionals in another report blamed the preponderance of payment errors on manual systems, and two out of three respondents said that long working hours were the result.
CFOs Say Dynamic Pricing a Must-Have in the Home Repairs Business
When you’re repairing a home, speed is essential. For a company orchestrating the repairs, that means getting the work identified, estimated and signed off on and then getting a contractor in place to begin the work. Doing all that very quickly “is a competitive advantage for us but certainly meets the expectations of our clients,” Mark Kearns, chief financial officer at PunchListUSA, told PYMNTS.
To Woo Vendors, Try Offering Real-Time Payments
Omri Mor, CEO of B2B mass payout firm Routable, told PYMNTS CEO Karen Webster that instant payments could change the dynamics of commercial payments. Faster payments, he said, “have a huge benefit in helping both parties resolve what they truly need, which is the transfer of money being complete.” Routable is partnering with the Real-Time Payments (RTP) network to offer its Real-Time Payments services in a bid to help Routable’s clients deliver instant payments at scale.
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