Today in B2B Payments: B2B Platform GigaCloud Closes $41M IPO; Spend Management Firm Coupa Improves Cash Visibility

Today in B2B payments, GigaCloud has closed a $41 million initial public offering (IPO) to grow its large-parcel B2B eCommerce platform, and Coupa has added innovations to its spend management platform.

Furniture, Large Home Goods B2B Platform GigaCloud Closes $41M IPO

Large-parcel B2B eCommerce platform GigaCloud Technology has closed a $41 million initial public offering (IPO) as well as a full over-allotment option of about 3.4 million Class A ordinary shares. The platform connects primarily Asian manufacturers with primarily American, Asian and European resellers. GigaCloud said in a blog post, “We will build a ‘Global commerce hub for furniture and large home goods’ together.”

Spend Management Platform Coupa Expands Cash Visibility Features

Business spend management solution provider Coupa Software has added innovations to its Coupa Treasury product, aiming to give companies better visibility into their cash position and cash projection. Coupa Treasury Global Vice President Tamir Shafer said in a press release that “treasury teams require full visibility into transactions across all back-office functions in order to accurately forecast cash.”

CFOs Tackle FX Effect on Cross-Border Payments

How can chief financial officers (CFOs) manage the complexity of cross-border payments? One way is to simplify. Pipedrive CFO Laurence Capone told PYMNTS, “We do business in 178 countries. So, imagine the number of currencies we would have had to deal with. So the reality is that we mostly do business in two currencies: euro and U.S. dollar.”

CFOs Look Beyond the Books to Help Scale Companies

Given the unpredictability of the current macro environment, chief financial officers (CFOs) need insight that extends well beyond what their enterprise resource planning (ERP) suites can deliver, iBASEt CFO Daniel de Haas told PYMNTS. “As CFOs, we now have a broader role where we must help our colleagues understand the ins and outs and the bigger picture of what happens across the company,” de Haas said.

Standard Bank Looks to Expand Amid Rising Competition in South Africa

South Africa’s largest lender wants to use its position to expand its business banking services amid increasing competition. As Bloomberg reported, Standard Bank Group hopes to make the most of its scale and geographical footprint to fuel its growth. CEO Sim Tshabalala told investors that could mean cross-selling a variety of financial solutions, such as insurance and transactional accounts.

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