Today in B2B payments, investors are helping two B2B platforms in their plans for growth. Kenyan AgriTech startup iProcure has secured new funds to support its expansion into Uganda and Tanzania, while logistics software company Trusted Dispatch has received investment to grow its solutions for Canada and the United States.
Kenyan AgriTech startup iProcure has closed a $10.2 million Series B round and plans to use the new funds to support the expansion of its agricultural supply chain platform into Uganda and Tanzania, according to a Disrupt Africa report. The company also intends to launch a lending product for agro-retailers to purchase supplies on credit.
Logistics software company Trusted Dispatch has received a $1 million Preferred Partner investment to expand and grow its solutions for shipping heavy machinery in Canada and the United States. Trusted Dispatch Founder and CEO Dusty LaValley said in a press release, “Our customer base is growing fast, with thousands of commercial users all over North America using the platform each month.”
Gatik and Cummins will collaborate to integrate Gatik’s autonomous driving system with Cummins’ advanced powertrain solution, working to improve the performance, safety and fuel efficiency of Gatik’s medium-duty delivery trucks. These trucks are designed to serve customers’ needs for autonomous middle-mile logistics, running short-haul, B2B delivery routes.
C2FO and Vic.ai have partnered on an artificial intelligence (AI)-powered invoice acceleration solution that they say will help enterprise customers reduce payment cycles for their supply chains. The solution makes use of C2FO’s global platform for working capital and Vic.ai’s AI for autonomous accounting and financial management.
Saying it’s supporting businesses that are facing supply chain challenges and the rising cost of capital, finance automation platform and corporate card provider Ramp has added an option that lets businesses finance invoices on terms of 30, 60 and 90 days. This new option is called Flex and has been added to the company’s Bill Pay accounts payable (AP) automation product.
When Accolite Digital Chief Financial Officer Mark Himelfarb joined the firm 15 months ago, his marching orders were to standardize disparate systems across lines of business and international operation borders to establish a digital foundation that could help the company scale for growth. Today, the firm’s systems talk to each other, and each one becomes the system of record in its respective domain — the single source of truth.
Consumer packaged goods (CPG) companies are coming up against challenges beyond their control, from supply chain issues to skyrocketing inflation. Procter & Gamble CFO Andre Schulten said that in this difficult environment, it is even more important for them to optimize in places where they do have control.
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