B2B X-Border Payment, Fulfillment Startups Land Investments
To help firms make cross-border payments and manage logistics, among other tasks, a host of companies from the U.S. to the U.K. and India have revealed investments. This week’s B2B FinTech roundup finds an eCommerce fulfillment service provider from Chicago raising $200 million in new funding, while a U.K. payment and payout provider landed $7.5 million.
ShipBob
Chicago-based ShipBob, which provides fulfillment services for eCommerce, landed $200 million in a Bain Capital Ventures-led Series E funding round. The company intends to “accelerate [its] mission to provide world-class fulfillment to brands of all sizes around the world” with the infusion. ShipBob said it currently has two dozen fulfillment hubs in five nations that help over 5,000 companies.
Noname Security
Israel-based enterprise application programming interface (API) security firm Noname Security has wrapped up a $60 million Series B funding round. The Noname API Security Platform makes a full listing of all a firm's APIs and harnesses machine learning and artificial intelligence (AI) to detect incorrect settings, unusual behavior and attackers. CEO Oz Golan and CTO Shay Levi, who both served in Israel's IDF 8200 Intelligence Unit, established the firm.
LocoNav
India-based fleet software firm LocoNav has notched $37 million in a Series B round. Sequoia Capital India, Anthemis Group and Quiet Capital, among others, provided the infusion. LocoNav harnesses AI-based technology to help users manage their fleet operations and offer suggestions to assist them with making better decisions to bolster fleet performance. LocoNav is presently live in just over two dozen nations.
Payzer
North Carolina-based Payzer, which offers the Payzerware solution to help contractors operate their companies, landed $23 million in a Harbert Growth Partners-led Series D equity capital round. Alerion Ventures, IDEA Fund Partners, Ferguson Ventures, Route 66 Ventures and Grotech Ventures also took part. Payzer plans to harness the infusion to “increase its focus on delivering” Payzerware for electric and plumbing, among different specialty trade markets.
Mercuryo
U.K.-based cross-border payments firm Mercuryo notched $7.5 million in its Series A, which was headed up by Target Global. Mercuryo helps firms with digital currency and fiat payments in addition to payouts. It intends to use the infusion to grow into new markets and “launch business solutions enabling any company to become a FinTech without dealing with its complications,” per its Twitter account. Mercuryostarted bringing clients on board at the start of 2019, and has been expanding to new markets like the U.S.
Aliaswire
Aliaswire, which equips companies and financial institutions (FIs) with online payment and credit solutions, raised $6 million in new funding in a Stage 1 Ventures-led round. Aliaswire says it is focused on a cloud-based digital bill presentment and payment offering, along with a credit offering for the small business market. The firm has tripled its headcount over the past year and a half.
Arrows
Arrows, which helps businesses with customer onboarding, landed $2.75 million in seed funding from Gradient Ventures, in addition to nearly 50 angel investors. The company enables businesses to provide clients with a tailored onboarding plan complete with assigned tasks, due dates and digitized automated email reminders, among other features.