Today in B2B payments: Biller joins the banking circle
Today in B2B payments, Biller joins Banking Circle Financial Services, and the current CFO is focused on scaling businesses and making data-driven decisions. Additionally, Keo World secures $500 million for B2B financing expansion, and two-thirds of companies collect credit information on new suppliers.
B2B BNPL Firm Biller joins the banking circle
The Luxembourg banking circle said that Biller, an artificial intelligence (AI)-based commercial billing company, buy now, pay later (BNPL), is joining its financial services “ecosystem”. Amsterdam-based Biller’s payment method allows business buyers to place orders online and pay by invoice, performing real-time credit and fraud checks. Anders la Cour, CEO of Banking Circle Group, said his bank is adding more capabilities to meet growing demand for modern financial solutions as businesses increase the digitalization of customer interactions and the supply chain.
Today’s CFO is focused on scaling the business and making data-driven decisions
Avi Israel, chief financial officer of cloud infrastructure security firm Ermetic, told PYMNTS that his company would build “the infrastructure needed to support rapid growth and [using] data to measure all aspects of the business. Last month, Ermetic raised $100 million in Series B funding. The cybersecurity industry that Ermetic works in reached a new all-time high last year, and this segment is likely to remain a leader in the software industry. as a service (SaaS), Israel said.
Keo World Raises $500M to Expand B2B Sourcing Funding in Mexico
Buy Now, Pay Later (BNPL) FinTech Keo World announced a seven-year credit facility of up to $500 million from asset management firm Hayfin Capital Management, helping the company increase its leverage. purchasing for small and medium-sized enterprises (SMEs) . Keo World, which was founded in 2020, issues virtual Keo American Express cards and lines of credit with a digital approval process for SMEs. Retailers can offer BNPL to their customers for B2B “instantly” through American Express.
66% of companies collect credit information from new suppliers
Two-thirds of businesses collect credit information from new suppliers and nearly half (45%) collect data on suppliers’ past financial performance, according to the Innovating B2B Retail Payments Playbook, a PYMNTS and MSTS collaboration. Details like these help suppliers ensure that new suppliers can pay on time and according to contract terms, which is especially important when payment fraud takes many forms and comes from many different places.