Today in B2B payments the value of Freshworks’s initial public offering could approach $ 10 billion and the open funding platform mmob adds iwoca. Additionally, asset manager White Oak acquires trade finance firm Finacity, FloBiz seizes $ 31 million for growth, and Check and Procare improve payments for daycare workers.
SMB Neobank FloBiz Secures $ 31 Million in Series B Funding for Expansion
Indian small and medium-sized enterprise (SME) neobank FloBiz has raised $ 31 million in Series B financing which it will use to add more employees, develop new products, expand its distribution network and enter the retail sector. financial services, according to Business Today on Mondays (Sept. 20).
Sequoia Capital India led the fundraising effort, with Think Investments and existing investors Elevation Capital and Beenext joined other investors.
Open funding platform mmob adds iwoca to its network
The mmob open finance partnership platform recently added small and medium-sized business (SME) lender iwoca to its network of digital finance providers.
Twinning allows banks and other large financial institutions to easily integrate small business loan provision into their digital ecosystems and reduce the time SMEs spend on paperwork.
Payroll verification, Procare team on the daycare’s automated product
Start-up Payroll-as-a-Service Check recently partnered with childcare management software platform Procare Solution to improve daycare employee payment processes by integrating payroll capabilities through Check’s software.
The partnership means Procare will develop an automated way to accept payments at centers possibly by next year.
Enterprise software company Freshworks increases IPO price bracket
Business and consumer engagement software platform Freshworks has raised the target range for its upcoming public offering (IPO) to a possible valuation of $ 9.6 billion.
If the IPO hits the high end of its expected price range of $ 32 to $ 34 per share, California-based Freshworks would raise $ 969 million.
Asset manager White Oak acquires trade finance firm Finacity
Alternative asset manager White Oak has acquired trade finance and working capital platform Finacity, according to joint press release, giving White Oak more leverage in the asset-based working capital market .
Finacity works with hundreds of billions of dollars in trade receivables each year and facilitates non-bank transactions around the world, the statement said.