Today in B2B payments, FortisPay eyes CFOs’ data strategy, and UnionBank launches payments hub for small businesses. Plus, Kaped discusses the next wave of alternative finance, Credit Suisse issues Greensill investment refunds, and Splyr raises funding for its B2B eCommerce technology.
There might be a new alternative finance wave crashing on small businesses’ doors. Yet while having product choice can be beneficial, Kaped VP of Operations Vashon Gonzales says with limited legal protections for small and medium-sized business (SMB) borrowers, businesses and FinTech partners alike must take a responsible approach to growth.
Credit Suisse has has paid $400 million more to investors affected by the Greensill-linked fund mess, bringing the total to nearly $6 billion, Reuters reported. Greensill Capital provided supply chain financing and filed for bankruptcy in March. Part of Greensill’s business model involved selling invoices from suppliers awaiting payment for goods as short-term assets. Credit Suisse was one of the firms handling those sales. Credit Suisse also was a shareholder in Greensill.
Splyr Global, a Dubai startup that calls itself “the largest wholesale platform in (the) Middle East and North Africa,” has landed a $500,000 investment, the investor announced. The funds for the B2B wholesaler came from Quality & Saving Center. Splyr was “founded and led by a team of seasoned business and technology professionals who have worked at some of the top companies within their sectors,” the announcement states.