Today In B2B: Finadvant Eyes SMB X-Border Payment Pains; Brex Lands $7.4 Billion Valuation

Today in B2B payments, Finadvant discusses the cross-border payment pains of small businesses, and Brex raises new funding. Plus, OnDeck readies for asset-backed security sale, Citigroup strengthened its EMEA corporate banking presence and Medius launches supplier payment capabilities.

How SMB Finserv Missed The Compliance Headache Of Cross-Border Payments

SMB Lender OnDeck Gears Up For Asset-Backed Security Sale

OnDeck Capital, the small to medium-sized business (SMB) digital lender, is reportedly gearing up for its first bond sale after installment loan issuer Enova International Inc. purchased the firm in 2020, the Washington Post reported on Monday (April 26). Unnamed sources in the Washington Post article indicated that the company is looking to sell asset-backed securities in four tranches.

Brex Raises $425 Million Series D At $7.4 Billion Valuation

Citigroup To Boost EMEA Banking Operations

Citigroup will expand its commercial banking operations for Europe, the Middle East and Africa (EMEA), a press release said Monday (April 26). The operations will take on local banks serving midsize companies, as part of a broader initiative to capitalize on its global presence, the release said.

Medius Rolls Out Supplier Payment Service

Spend management and eProcurement software company Medius has rolled out an end-to-end payment automation offering called Medius Pay, according to a Monday (April 26) announcement. “Many organizations understand the benefits of payment optimization but are limited by internal tools and [organizational] bandwidth to effectively modernize payment processing,” Medius CEO Per Åkerberg said in the announcement.