Technology Innovations in B2B Payments & FinTech Funding during Covid times

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Venture capitalists show immense support to the B2B FinTech start-up community. B2B fintech firms have so far fared better than others during this market disruption. UBS Group is planning to set up a new venture fund. They target corporate FinTech start-ups and companies which disrupt the traditional banking arena.

 To meet this aim UBS for the year is marking millions in investment targets. They want to hold a stake in disruptive B2B FinTech start-ups. Mike Dargan, UBS Group chief information officer says the new venture investment portfolio is a next step to accelerate their innovation and digitalization efforts. A more than $ 48 million is aimed at by this week’s B2B venture capital roundup. The aim is to connect business with capital and keep B2B payments flowing.

        Mati is a Mexico based payments cybersecurity start-up. It was first formed in California. From different sources, Mati raised an undisclosed seed investment. It focuses on the Latin American market expansion. As it expands the company plans to use the funding to support its cybersecurity product. 

In India, some companies participated in fundraising. Tech Graph reported. Suryoday Small Finance Bank raised an $ 8.2 million equity to fundraise. It (Suryoday) targets small and medium-sized businesses with lending services. The co-founder R. Baskar Babu said they started reengineering their business processes and digitalizing them. This includes their microfinance vertical.

                    Treasury Intelligence Solutions (TIS) is a German-based FinTech that offers corporates B2B payment. A $ 20 million investment it got will help it enhance product development. It also speeds up expansion through the US and Europe. Series C funding of Fundbox has brought it $ 20 million in additional equity. In total $200 million investment is raised by the company. In B2B finance, this will help the company to expand its presence.

When the outbreak happened and its continuation, it heightened the need for financial technologies to come in between B2B buyers and suppliers along the supply chain. Automated credit management enables the company to streamline the B2B payment process in a way that minimizes the chances of a disaster scenario.

                   In this COVID-19 scenario, banks are under pressure to modernize their payment capabilities to support instant or real-time payments. It is heard that the rapid growth of contactless payments has become a necessity with the subsequent increase in digitalization. The need for agility, quick movement and optimization across the payments processing value chain is imperative. Application Programming Interface (API) adoption has been a key catalyst in digital-first banking. This allows FIs, FinTechs, and other players to collaborate on new tools. At the same time, this provides third-party apps and bank financial data on compatible lines.

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