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B2B FinTech Funding Takes A Summer Breather

After months of high-profile funding rounds, the B2B FinTech community seems to be taking a bit of a breather with venture capitalists. While this week’s roundup may not be the busiest, it’s likely investments in the space will continue to regain speed for the rest of the year.

Part Analytics

Strategic sourcing platform Part Analytics announced a $3 million funding round led by MK Capital. The company offers a solution that uses artificial intelligence to enhance firms’ sourcing and procurement operations through risk mitigation, cost reduction and product development. With the new funding, the company said that it will hire new staff and focus on customer acquisition.

Biller Genie

Cloud-based accounts receivable (AR) platform Biller Genie announced a $3.5 million seed round this week led by Cayan Founder and CEO Henry Helgeson. Additional investors included Newtek Business Services Corporation; Omar Soliman, co-founder and CEO of College HUNKS Hauling Junk & Moving; Shai Stern, co-chairman and CEO of CheckAlt LLC; and Harish Nataraj, managing director at York Capital Management, among others. The company said it will use the funding — called a “significant milestone” for the startup — to fuel growth, expansion and development of its AR solution designed to integrate with other platforms in the back office and promote cash flow health.

Invoier

Though not provided by a venture capital firm, Invoier‘s latest investment is worth noting. The company, based in Sweden, said it secured about $4.8 million from the EU’s European Innovation Council Fund. Invoier connects small to medium-sized businesses to financing and growth opportunities, and with the latest investment the company said it will introduce an invoice financing solution and to further help lower the cost of capital for SMBs.

Branch

Business payments FinTech Branch announced a whopping $540 million in Series B fundraising this week, though it should be noted the majority of that investment — $500 million — comes in the form of purchased assets from Neuberger Berman funds. The rest came in the form of equity led by Addition, while Drive Capital, Crosscut Ventures, Bonfire Ventures, Matchstick Ventures and HR Tech Inevstment LLC also participated. Branch offers payroll technologies that allow employers to more affordably pay employees and contractors. Branch said it will use its funding to focus on enhancing its offering by accelerating payments and integrating a variety of financial services.

xentral

U.K.-based xentral offers enterprise resource planning (ERP) technology that attracted venture capital to the tune of $75 million — the largest round in this week’s roundup. The company said it will use the funding to bolster its existing product, fuel further expansion across the U.K., and hire new staff. Designed for small to medium-sized businesses, xentral’s ERP tool aims to help support firms’ digitization efforts, especially as more firms embrace digital commerce business models. The solution can support automation and digitization of a variety of workflows, including accounting and procurement, it said. Tiger Global and Meritech led the Series B investment round, according to a press release, while existing backers Sequoia Capital, Visionaries Club and Freigeist also participated.

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