Yesterday Silicon Valley-based
Crowdz announced its $5.5 million Series A funding round led by Barclays and BOLD Capital Partners. TFX Capital Partners, Techstars Ventures, and First Derivatives also participated in the round. Crowdz has an Invoice Exchange where SMEs can auction invoices to get trade financing from banks or hedge fund managers.
The Invoice Exchange has a B2B payment gateway, and in addition to offering trade finance, it enables matching of orders with invoices and payments which provides increased confidence for funders.
“While companies of all sizes can benefit greatly from our global Invoice Exchange, we founded Crowdz with the goal of ensuring that all small and midsize enterprises (SMEs) in particular have access to the cashflow they need in order to survive and grow,” said Payson Johnston, co-founder and CEO of Crowdz.
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