Today in B2B payments: Paro discusses CFOs’ embrace of the gig economy, and SWIFT launches its faster cross-border payments tool for small businesses. Plus, Windward discusses data in trade finance, Nium raises $200 million and Escrowpay launches Invoice2Cash.
Trade financing demands data for underwriting, due diligence and compliance. Yet many institutions have decades-old data contracts in place that have proven unable to keep pace with today’s global trading ecosystem. Windward CEO and Co-founder Ami Daniel spoke about the importance of change management to modernize data-driven decisions.
Singapore’s Nium became the first B2B payments unicorn in Southeast Asia Tuesday (July 27) following a $200 million Series D funding round. Led by Riverwood Capital, the round puts Nium’s valuation north of $1 billion, per the news release announcing the fundraise. Nium has raised nearly $300 million to date, including this latest funding round.
Escrow payments and settlements provider Escrowpay has launched Invoice2Cash (I2C), a new platform designed to help corporate buyers as well as their vendors and suppliers. The platform allows businesses to optimize payables management “by offering to pay out their supplier invoices earlier than the due date at a given discounted rate, thus generating healthy savings on their cash payables,” APN News reported on Tuesday (July 27).
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