Today In B2B: Clearco Talks Performance-Based SMB Finance; Tesco Readies Sustainability Supplier Finance
Today in B2B payments, Clearco talks performance-based small business finance, and MRB Direct explores the compliance challenge of banking cannabis. Plus, Tesco creates a sustainability-linked supplier financing program, Currencycloud collaborates with Alviere, and PrimePay turns to M&A to boost its payroll capabilities.
Small online sellers have few options to raise capital to grow their businesses without pledging personal collateral or giving up chunks of their business. Andrew D’Souza, co-founder and CEO at Clearco, tells Karen Webster that a performance-based approach to funding, coupled with accelerator-like guidance, can give digital SMBs the best chance of success.
Embedded finance platform provider Alviere and cross-border finance specialist Currencycloud are collaborating on what they called in a press release a “multicurrency cross-border embedded finance solution.” The arrangement lets New York-based Alviere provide enterprise clients with Currencycloud’s Spark product’s multicurrency eWallet, the release stated. The product allows International Bank Account Numbers (IBANs) that facilitate transactions in up to 38 currencies at once.
PrimePay, a human capital management, payroll and benefits services company, has acquired SyncHR, an all-in-one HR and payroll company, a press release stated on Friday (April 30). “Pam and the SyncHR team have built an incredible product that is leading the charge in modernizing and revolutionizing HR operations in the constantly evolving HCM landscape,” said John LaMancuso, CEO of PrimePay.
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