Today in B2B: CFOs Measure Success Using AR Revenue
Today in B2B payments, 82% of Chief Financial Officers (CFOs) measure Accounts Receivable (AR) revenue to gauge success, while GRO Capital closes GRO Fund III. Additionally, Indonesian B2B market Ralali is valued at over $168m after a Series D funding effort, and Powered By People is raising $5m in seed funding to add more smaller brands to its market.
82% of CFOs measure AR revenue to gauge success
The Working Capital Playbook, a collaboration between PYMNTS and YayPay, found that 82% of chief financial officers (CFOs) measure accounts receivable (AR) revenue to assess their ability to increase overall customer value. Delays or errors in the AR process can have colossal ripple effects, as businesses often lack the free capital to ensure timely payroll, vendor payments, and a host of other necessities that could quickly spiral out of control. .
GRO Capital Closes $662.25 Million GRO III Fund
GRO Capital has closed its northern European B2B software-focused fund GRO Fund III K/S, continuing the investment strategy pursued in previous funds, with a focus on accelerating the growth of software publishers. mature software in the Nordic region, DACH and Benelux. The fund, which has a cap of 600 million euros (approximately $662.25 million), has secured financial support from many of GRO’s existing investors and welcomed new investors.
B2B Marketplace Ralali Closes First Series D Tranche
Indonesian B2B marketplace Ralali has completed the first tranche of its Series D funding round, raising an undisclosed amount. It remains open to strategic partnerships with companies in the banking, logistics, point-of-sale and application programming interfaces (API) sectors. Ralali will use the funding to provide more services to its customers. The company raised around $11 million in February, bringing its valuation to over $168 million.
People-powered B2B e-commerce platform raises $5 million
Kenya-based B2B e-commerce platform Powered by People has raised $5 million in seed funding, which it will use to grow its transaction volume by increasing the number of smaller brands using its marketplace to connect with people. international buyers. The company works with more than 200 brands and 45,000 artisans in 47 countries, who sell to retailers like West Elm and The Citizenry, in major markets including North America and Asia.
Mastercard partners with HSBC for new B2B cash flow and payment solution
Mastercard has partnered with HSBC in the UK to launch a new B2B payment solution for cash flow management and expanded payment options. The Mastercard Track Card to Account Transfer allows businesses to use their commercial card program to make payments to any vendor, even if a vendor does not accept card payments. The new solution aims to help businesses better manage their cash flow while getting rid of manual processes and offering comprehensive payment alternatives.
B2B funding platform earns $750 million at $8.1 billion valuation
Financial automation platform Ramp secured $750 million in funding to take its valuation to $8.1 billion. Ramp has over 5,000 businesses on its platform and powers over $5 billion in annualized payment volume. The company launched B2B payment tool Bill Pay and Ramp for Travel last year.