Today In B2B Payments News: Starling Eyes IPO, Lloyds Teams On Trade Finance
Today in B2B, Starling Bank seeks new funding as the challenger bank is said to be considering an IPO. Plus, Lloyds Bank partners with a FinTech to streamline supply chain finance, Expensemanager collaborates to automate expense management and Xendoo pairs up on accounts receivable optimization.
Lloyds Bank Commercial Banking has partnered with Demica, a working capital FinTech, to roll out a new supply chain finance platform for U.K. businesses and affiliates, a press release says. Called The Open Account Platform, the new service will offer Lloyds Bank customers new tools, including supplier finance and receivables purchase, available through a lone online portal for the first time. The platform will reportedly launch before the year’s end.
FinTech Xendoo, which works in online accounting and bookkeeping solutions, has partnered with Biller Genie on automated accounts receivable (AR) services, a press release says. Biller Genie, which works specifically with automating AR, will integrate with Xendoo and let businesses access a simpler way to collect, process and reconcile payments in its accounting software, the release says.
Australian cloud expense and software provider expensemanager has partnered with Sage Intacct to offer cloud expertise and invoice management on the latter company’s Intacct Marketplace, a press release says. The partnership, which makes expensemanager the first local Australian partner for Sage Intacct, will allow customers a streamlined integration method while providing a mid-market option to automate the expense reimbursement process.
Starling Bank is pushing ahead with plans to raise another $263 million, as the U.K.-based digital bank looks to fuel additional expansion in its home market while eyeing an initial public offering (IPO) down the line. Starling has hired Rothschild to handle the push for additional cash with its belief that it is nearing profitability, according to TechCrunch. The new round of fundraising comes atop the $477 million that Starling has raised so far.