This month in B2B news, Checkout.com raises $1 billion in funding and sees its value rise to $40 billion, while Google pays $500 million for software security firm Siemplify. Also, Software-as-a-Service (SaaS) firm Zaggle prepares to go public and Morocco’s Chari looks to a $100 million valuation after bridge funding.
Checkout.com Valued at $40B Following Series D Funding
FinTech startup Checkout.com raised $1 billion in a Series D funding round, valuing the company at $40 billion, a 20-fold increase from its fundraise in 2019.
Two days after the round, Founder and CEO Guillaume Pousaz appeared on CNBC where he was asked how the company would compete with players like Stripe in the enterprise market, especially if Stripe decided to go public.
“We’re 100% enterprise focused,” he said, noting that Checkout’s strength is in its service. “This is in our DNA since the beginning. We’re not like Henry Ford selling only black cars. We really go deep with our customers, building meaningful relationships. If you have only 1,800 customers, you know all of them, you give them that extra mile service.”
Google Acquires Israeli Cybersecurity Startup Siemplify for $500M
Google has acquired Israeli cybersecurity startup Siemplify for $500 million, a move that gives the tech giant a deeper foothold in end-to-end business security services, otherwise known as security orchestration, automation and response (SOAR).
The deal makes Siemplify part of Google Cloud’s security team, joining its Chronicle operation.
“We plan to invest in SOAR capabilities with Siemplify’s cloud services as our foundation and the team’s talent leading the way,” Google wrote in a blog post. “Our intention is to integrate Siemplify’s capabilities into Chronicle in ways that help enterprises modernize and automate their security operations.”
Zaggle Looks to Raise up to $250M Through IPO
SaaS FinTech Zaggle is hoping to go public at some point this year, multiple sources with knowledge of the situation told the website moneycontrol.com.
Based in Mumbai, Zaggle was founded by serial entrepreneur Raj N. Phani in 2011 and operates in digital payments, cash back and analytics. Its clients include Bayer, Tata Motors and HDFC Bank. The company is hoping to raise $200 million to $250 million through an initial public offering (IPO).
Moroccan B2B eCommerce Platform Chari Nets Funding on $100M Valuation
Chari, a B2B eCommerce and FinTech startup based in Morocco, could see a valuation of $100 million following a round of funding.
Chari’s mobile app allows traditional proximity store owners in Morocco to order products and have them delivered.
The company is attempting move into the FinTech space following this bridge round, led by the Saudi Arabia-based venture capital fund Khwarizmi Ventures, AirAngels (Airbnb Alumni Investors) and Afri Mobility, the venture capital arm of AKWA Group.
Series E Round Values 6sense at $5.2B
Account engagement platform 6sense raised $200 million in a Series E funding round that vaulted the San Francisco company to a $5.2 billion in valuation, according to a company news release.
PYMNTS spoke to 6sense Chief Financial Officer Rob Goldberg in 2020 about the challenges and opportunities his company had witnessed during the pandemic, and how CFOs can leverage technologies to future-proof for a post pandemic marketplace.
Read more: The CFO as the Financial ‘True North’ of an Organization
French Telecom Orange Backs B2B Tech Fund
French telecom Orange has invested in the “Move Capital I” fund in an effort to back up-and-coming B2B tech “champions” in Europe.
“Orange Business Services and Move Capital share a common vision: to assist, support and finance French and European tech companies in the digital B2B sector to facilitate their development and emergence and ensure European technological sovereignty,” the company said in a news release.
Move Capital is active in fields such as Internet of Things (IoT), artificial intelligence (AI), and data analytics.
B2Brazil Debuts B2B Marketplaces in Mexico, Chile and Colombia
B2Brazil Serviços Interativos has unveiled online marketplaces in Chile (B2Chile), Colombia (B2Colombia) and Mexico (B2Mexico). The company said the new trio relies on B2Brazil’s technology and database, servicing the more than 20,000.
The new marketplaces also have connections to more than 200,000 companies and hundreds of thousands of products and leads for buying and selling. Each marketplace operates in four languages: English, Portuguese, Spanish and Chinese.
Paya to Expand B2B Offering With Transcard Partnership
Payments processor Paya has formed a partnership with Transcard, a company providing payment technology for financial institutions (FIs).
The firms said that by integrating Transcard’s technology and banking infrastructure, Paya can “substantially expand” its B2B commerce suite, with a fully-integrated accounts payable (AP) module and supplier network.
“This new partnership will enable Paya’s customers to seamlessly send payments, coupled with rich data, to their suppliers via ACH and virtual card, reducing the back-office burden caused by paper checks,” the companies said in a news release.
PayFit Raises $276M to Transform HR Technology
PayFit, a Paris-based payroll and human resources management tool for small- to medium-sized businesses (SMBs), has raised 254 million euros ($276 million), the most ever raised by the company.
The financing values PayFit at $2 billion and will allow the company recruit staff, speed up the development of innovative new products and boost its market share in Europe.
Workspace Management Platform OfficeSpace Raises $150M
Workspace management platform OfficeSpace Software landed a $150 million strategic investment from Vista Equity Partners.
The funding will allow OfficeSpace to “continue building upon its industry-leading platform, empowering organizations to continually enhance and evolve their workplace strategy, including how they’re allocating their real estate investments and enabling employee productivity through insightful dashboards and reporting,” the company said in a news release.
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NEW PYMNTS DATA: 70% OF BNPL USERS WOULD USE BANK INSTALLMENT OPTIONS, IF AVAILABLE
About: Seventy percent of BNPL users say they’d rather use installment plans offered by their banks — if only they were made available. PYMNTS’ Banking On Buy Now, Pay Later: Installment Payments And FIs’ Untapped Opportunity, surveyed more than 2,200 U.S. consumers to better understand how consumers view banks as BNPL providers in a sea of BNPL pure-plays.
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