Payments

An Infographic That Explains B2B Opportunity in FinTech

by Amit Goel · December 10, 2015

MEDICIFounder and Chief Strategy & Innovation Officer

B2B payments are known to be inefficient and expensive. There is an immense need for streamlining settlements and reconciliation of business commerce. At present, the major challenges are international B2B payments, working capital optimization, zero cash visibility and friction in buyer-supplier relations.

Aiming to reduce the challenges in the segment, multiple startups are coming up with solutions for B2B payments. In this infographic, we talk about 28 FinTech firms operating in the B2B space.

Cross-Border B2B Payments: Efficient cross-border B2B payment solutions help B2B corporations conduct business overseas and across borders easily.

Ebury:

Ebury is a London-based startup that works with small businesses that trade internationally. The company makes international B2B payments easy and that too at low cost. The company also provides services like risk management, currency conversion and metal trading to midsized corporate clients.

Funding received: $119.24M (The company has raised $83M in private equity in November 2015.)

Transpay:

Transpay is a simplified payment platform that allows businesses to send B2B and B2P mass payments all over the world quickly. Transpay’s total global payout volume in 2014 was $4 billion with 11.6 million transactions. They have 6,065 business clients and three million individual clients.

Payoneer:

Payoneer empowers global commerce by connecting businesses, professionals, countries and currencies with its cross-border payments platform. Payoneer was founded in April 2005 by Yuval Tal (President). Payoneer enables companies in over 200 countries and is ranked among the top 100 of Inc.'s 5000 financial service companies.

Funding received: $90M (The company has raised $50M in Series E funding in August 2015.)

Align Commerce:

Align Commerce is a San Francisco-based startup that uses blockchain technology for cross-border B2B payments.

Funding received: $12.5M (The company has raised $12.5M in funding in November 2015.)

Currency Cloud:

Currency Cloud delivers cross-border payments as a service. In October 2015, Currency Cloud unveiled its next-generation API, Payment Engine Two, a platform that makes faster payments with large volume.

Traxpay:

This California-based FinTech startups provides real-time, 24/7 transactions and trusted trade. It seeks to make settlements fast and simple by connecting full, rich data with each payment. Traxpay targets the market segment through two different editions of its product:

– Traxpay B2B Payments Professional Edition (for small to midsized companies) and

– Traxpay B2B Payments Enterprise Edition (for large midsized and global organizations).

The company had till now raised $19M in funding.

Direct Debit: An arrangement made with a bank that allows a third party to transfer money from a person's account on agreed dates, typically in order to pay bills. Direct Debit helps in better cash flow management.

GoCardless:

GoCardless is a UK-based payment firm that works with SMBs to accept direct debit payments and solve their late payment woes affecting cash flow. Founded in 2011 by Matt Robinson, Tom Blomfield, Hiroki Takeuchi, GoCardless aims to make payment collection simpler for SMBs through collecting direct debits online. The company is backed by some of the world’s leading investors including Balderton Capital, Accel Partners and Y Combinator.

Funding received: $11.8M

AccessPay:

AccessPay provides next generation cloud-based solutions that transform payments, cash management and treasury systems.

Funding received: Undisclosed amount

Twikey:

Twikey's interface allows the exchange of B2B Sepa Direct Debit mandates. The FinTech startup was founded in 2013.

Escrow as a Service: Online financial agreement involving two parties, usually a buyer and a seller. The process helps in faster B2B payments.

Armor Payments:

Armor Payments is a California-based startup founded in 2014. The company provides secure business-to-business commerce with an online escrow payment service designed for B2B buyers and sellers.

Funding received: Undisclosed amount (seed)

Electronic Invoicing: Paper-free electronic invoicing that helps in B2B documentation and makes payments easy.

Taulia:

Taulia provides a cloud-based invoice, payment and discount management solutions for large buying organizations. The company offers dynamic discounting by turning the invoices into revenue opportunities and increasing supplier liquidity by automating early payments on 100% of the invoices.

Funding received: $90.7M

Tradeshift:

Tradeshift is a San Francisco-based startup which offers a global business-to-business platform that helps companies run more efficiently using cloud-based technology to improve processes like invoicing, workflow and supplier financing.

Funding received: $129M

Viewpost:

Viewpost is a B2B e-invoicing and payments firm based in Florida. The FinTech firm has partnerships with leading US banks such as Bank of America, Fifth Third and US Bank.

Funding received: $54.47M

TrustWeaver:

TrustWeaver is a Sweden-based provider of cloud-based compliance services for electronic invoices and other critical e-documents.

B2B Cash Flow Management: A solution that optimizes cash flows for enterprises.

Fundbox:

Fundbox is a technology company that focuses on helping small business owners overcome occasional short-term cash flow gaps.

Funding received: $107.5M (The company has raised $50M in Series C funding in September 2015.)

Kickpay:

Kickpay is a San Francisco-based startup that offers a marketplace where businesses can sell their invoices.

Funding received: $120K

C2FO:

C2FO is a Kansas-based FinTech firm that offers an online B2B marketplace for early payments.

Funding received: $70.7M (The firm has raised $40M in Series D funding in August 2015.)

ApexPeak:

ApexPeak is a Singapore-based online FinTech firm that enables SMEs to access cash tied up in invoices, contracts, future sales or tenders.

Funding received: $1.84M

PrimeRevenue:

PrimeRevenue is an Atlanta-based FinTech firm which provides multi-bank supply chain finance services to buyers and suppliers worldwide.

Funding received: $91.64M

Invapay:

Invapay is a regulated provider of procurement and electronic payment services connecting corporate buyers and vendors worldwide.

Hummingbill:

Hummingbill Collect is a chrome extension-based application that increases the rate of on-time payments for service companies and product suppliers. The application does this through better organization of invoice data, automated payment reminders and embedded payment links in invoices.

Mobile B2B Accounting: Mobile applications for the B2B community.

SagePay:

SagePay is a B2B technology and corporate accountancy solutions firm that provides a B2B app for the community.

SME Financing: Financing small and medium-sized enterprises based on cash flow and other matrices.

Bond Street:

Bond Street is a New York-based FinTech startup that focuses on transforming small-business lending through technology, data and design.

Funding received: $112.2M

Dealstruck:

The Dealstruck lending marketplace connects profitable, small and medium-sized businesses with individual and institutional accredited investors.

Funding received: $69.5M

Ezbob:

Ezbob’s smart lending platform provides a fast, flexible and convenient source of credit to entrepreneurs looking to expand their business.

Funding received: $66.5M

iwoca:

iwoca offers a new type of credit facility for small businesses, allowing them to take advantage of opportunities previously only available to their larger peers. From placing larger stock orders to bridging cash flow gaps, iwoca believes that access to finance is crucial to driving business growth.

Funding received: $31.45M

Super G Funding:

Super G Funding is a California-based FinTech firm which offers small business financing solutions with loans ranging in size from $100K- $5,000K based on cash flow.

Funding Circle:

Funding Circle is a San Francisco-based startup which provides an online marketplace for business loans and matching businesses who want to borrow from investors.

Funding received: $273.24M