The Race To Secure Funding For B2B FinTech Companies

In recent days, B2B FinTech companies around the world have been securing their latest round of funding. They will be the ones who are flush with capital to weather the inevitable broad economic downturn stemming from the Coronavirus. Let’s take a look at a handful of the lucky ones.

Singapore-based MoolahGo is a multi-currency payments startup focused on both B2C and P2P payments that has since expanded into the cross-boarder B3B payments space. The company received an undisclosed amount from The Lippo Group as part of its Series A Round.

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Checkfront, a B2B SaaS booking management solution for travel experience companies, received just over $9 million from Framework Venture Partners, PenderFund Capital Management, Conconi Growth Partners and Royal Bank of Canada. The company is based in Canada.

Over in Europe, Germany-based FinCompare and France-based Alma raised $13 and $14 million, respectively. FinCompare, as the name entails, enables businesses to compare financing options across 250 banks including comparing credit, leading, factoring and purchase financing options. Meanwhile Alma is a point-of-sale financing technology for either eCommerce or brick-and-mortar merchants to get paid in full while the customer can pay in installments.

In North America, U.S.-based NorthOne raised $21 million to further expand its banking solutions geared towards SMBs and freelancers. Its backers include Battery Ventures, Redpoint Ventures and high net worth individual Tom Williams.

And back over to Asia, Fenbeitong is China’s answer for businesses in need of expense management solutions inclusive of physical and virtual cards, spend controls and analytical tools. The company took in $36 million from Eight Roads, Ribbit Capital, Glade Brooke Capital, BitRock Capital and existing investors IDG Capital, CreditEase Industry Fund and China Growth Capital.