The acquisition will give the Canadian fintech company, which helps businesses with outstanding invoices access capital, a greater foothold in the U.S. market. The terms of the deal were not disclosed. (The Logic)
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The acquisition will give the Canadian fintech company, which helps businesses with outstanding invoices access capital, a greater foothold in the U.S. market. The terms of the deal were not disclosed. (The Logic)
Talking point: FundThrough expects the acquisition of part of California-based BlueVine to more than double the number of funding transactions it handles per year; the company says it processes more than US$120 million per month. Its product solves a problem that many small businesses face: customers are often late to pay their invoices, which can lead to cash-flow challenges. FundThrough allows businesses to upload invoices to its platform, and gives them cash in exchange, minus a 2.5 per cent monthly fee. The customers then pay the amount for the invoice directly to FundThrough. The company raised $66 million in its last fundraising round in October 2020, with a total of $122.2 million in funding since its founding, according to PitchBook.
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