Commercial payments companies raise $250 million in the latest round of funding
Last week, Tipalti raised $269 million from VCs taking total funding raised during 2021 to over $5.6 billion.
This week, two commercial payments companies, Mesh Payments and Tradeshift, raised $50 million and $200 million respectively from the latest round of funding.
In the former, Mesh Payments which is a corporate payment and spend management company in its series B round of funding announced that it raised $50 million. The round of funding was led by Tiger Global and other investors include Entrée Capital, Falcon Edge Capital and existing investors TLV Partners and Meron Capital.
The company noted that this funding would be used towards its accelerated growth and expansion of its operations and also ‘introduce additional products that transform the way finance professionals manage payments by giving them a new level of control and visibility’.
As per the company’s press note, it is ‘disrupting’ the spend management space and is offering businesses to get full control over spending through its spend management platform and also provides tailored payments types which include SaaS payment management, travel payment management.
Tradeshift, which is a cloud payment and platform for supply chain payments, has raised $200 million in funding in a combination of equity and debt from its existing and new investors.
The investors which participated included Koch Industries, IDC Ventures, LUN Partners, Private Shares, and Fuel Capital. The company noted that its capital raised would be used towards the ‘growth and balance sheet to continue scaling the business’.
The company in its press release noted that its network is ‘transforming the way B2B buyers and suppliers find, connect and transact with one another’ and additional backing from the investors would accelerate product development and network growth.
It is reported in the press note that the company processed a cumulative value of $1 trillion mark and is doubling every two years.