Routable raise $12 million in Series funding round
Venture capital money continues to pour into commercial payments, despite the coronavirus pandemic. The US-based B2B payments company, Routable has secured $12 million in a Series A funding round.
This year, fintechs have raised more than $724 million in funding (excluding this funding) and the last fintech to raise was EMQ which raised $20 million in the last week of July.
Routable up to this date has raised $16 million in funding. The company plans to use the new money towards scaling the product and increasing headcount, the press release noted. The company works in B2B payments space, allowing customers to automate accounts payable and receivable. The investors in this round were Y Combinator, Founders Co-Op, Lee Fixel, Box Group, as well as Liquid 2 Ventures, Jason Gardner, Gokul Rajaram, Aaron Schildkrout, Sam Hodges, Immad Akhund.