Today in B2B payments, Cleareye.ai and J.P. Morgan partner on trade finance, Taulia and Standard Chartered collaborate on working capital finance solutions, and Suuchi GRID and Bankamoda team on supplier financing in Latin America. Plus, Sequence comes out of stealth and raises $19 million to build a billing and collections platform for B2B Software-as-a-Service (SaaS) companies.
Artificial intelligence and machine learning platform Cleareye.ai is forming a global partnership with J.P. Morgan’s Trade and Working Capital group to solve the challenges faced by trade finance operations. The alliance, which integrates the digital solution ClearTrade into J.P. Morgan’s Trade Processing System, is now live supporting transactions in the Asia-Pacific (APAC) region and is expected to launch globally.
Working capital manager Taulia and international banker Standard Chartered are collaborating to advance working capital finance solutions and will initially target supply chain finance and dynamic discounting. The companies signed a memorandum of understanding to extend the reach of their working capital finance solutions across both existing and new client networks.
Supply chain company Suuchi GRID has partnered with alternative bank Bankamoda in order to provide supplier financing to Suuchi GRID’s vendors and suppliers in Latin America. The partnership will allow vendors to get Bankamoda financing through the front end of the GRID, with the user interface integrating with Bankamoda in the back end.
Sequence has come out of stealth and announced that it has raised $19 million to build “the finance operations platform of the future” for B2B Software-as-a-Service (SaaS) companies. The company is building a platform that will help companies manage pricing models, data about customer usage and transactions, financial data, billing and collecting on bank or direct debit payments.
Financial super app Revolut has launched Revolut Pro, an income, expense and payment management account for self-employed workers. Initially debuting in the U.K. and seven other countries in Europe, Revolut Pro is free and lets customers manage their business funds with no need for a fully-fledged business account.
Dubai-based Mindware, a distributor of information technology (IT) products in the Middle East and Africa, has launched a B2B eCommerce website in the United Arab Emirates (UAE) and said it will soon do so in other regional markets. Mindware CEO Philippe Jarre said in a press release, “As a leading regional distributor, we pride ourselves on our ability to drive technological innovation in order to positively impact our business and that of our channel ecosystem.”
B2B Cannabis platform LeafLink has topped $1 billion in transactions processed by its payments solutions since the company processed its first order in 2016. LeafLink CEO and Co-Founder Ryan G. Smith said in a press release, “LeafLink looks to the future of cannabis and constantly strives to elevate the ways retailers and brands transact with each other.”
Would-be buyers that have top lines of tens of thousands of dollars to as much as $1 million who are seeking to fund small business acquisitions might not quality for bank financing. Boopos CEO Juan Ignacio Garcia Braschi told PYMNTS’ Karen Webster in a recent interview that online lending, coupled with flexible financing — and an online directory — can help simplify the acquisition process.
For today’s chief financial officer (CFO), every day presents new challenges to face and new discussions to be had about every part of the organization. Presidio CFO Manny Korakis told PYMNTS in a recent interview, “I look at every day as an opportunity to find efficiencies for the company, help drive value and manage our working capital.”
Goldman Sachs is accepting applications for 10,000 Small Businesses, its no-charge program that offers small business owners an intensive course in entrepreneurship. Asahi Pompey, a Goldman partner who oversees the program, told the Wall Street Journal, “Driving inclusive economic growth starts with supporting small businesses.”
Global B2B supply chain platform actyv.ai has added an embedded B2B buy now, pay later (BNPL) option and insurance to its artificial intelligence (AI)-based platform, saying this will help make business transactions faster and easier. By linking enterprises, their business partners and financial institutions, all parts of business transactions can be orchestrated on a single platform.
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