Business Warrior acquires SaaS FinTech Alchemy Technologies

Today, when it comes to B2B payments, Locality Bank and Hurdlr come together for invoicing and revenue tracking, while Business Warrior adds SaaS FinTech features with the Alchemy Technologies acquisition. In addition, outdated AP systems can push corporate communications with their suppliers, and Middesk raises $ 57 million in a Series B funding round.

Digital FI Locality Bank, API Firm Hurdlr Team on Invoicing, Income Tracking

Digital-first community bank Locality Bank will work with Hurdlr, an interface for business expenses, billing and accounting application programming (API), to provide businesses with easier ways to bill and track expenses and revenue.

The partnership will see the bank use its specially built online platform for various integrations such as the one with Hurdlr.

Raj Bhaskar, CEO and co-founder of Hurdlr, said the partnership would help advance the mission of creating “important functionality for local businesses.”

Middesk raises $ 57 million to improve business identity

The identity platform Middesk, which works to automate business verification and underwriting, has raised $ 57 million in a Series B round to fund new products, scale its team and provide business identity education.

The company was founded in 2019, and is also working to solve the difficulties of bringing in new customers. The solution Middesk offers offers the tools, data and documents needed by banks, insurance companies and other companies to automate the onboarding process.

Business Warrior acquires SaaS FinTech Alchemy Technologies

Business Warrior, which offers small businesses marketing and lending services, has acquired Software-as-a-Service (SaaS) FinTech Alchemy Technologies, it says in a press release, to add lending services and international reach.

Alchemy provides end-to-end cloud-based lending experiences designed for use by FinTechs, merchants and banks. The publication noted that Alchemy services include personal loans, point-of-sale financing, health and beauty financing, construction loans, solar and home improvement financing and lending to small businesses. Alchemy has customers in the United States and Puerto Rico, Mexico, the United Arab Emirates, Australia and the United Kingdom

Alchemy will operate under its current name as a subsidiary of Business Warrior. The release said Alchemy founder and CEO Timothy Li would become Global Technology’s Chief Technology Officer.

Companies cite outdated AP systems that hinder supplier communication

Regardless of the actual volume of debt a company processes each month, organizations lacking the solutions and infrastructure to effectively manage this aspect of operations will soon encounter obstacles that limit their growth, according to “High Volume Accounts Payable,” a PYMNTS and Router collaboration.

For this report, PYMNTS examined 204 CFOs in four industry segments that cope with increasing payment volumes and are under great pressure to handle more payments faster: online marketplaces, virtual event management, gaming finance and transportation, logistics and shipping.

Most of the companies surveyed said that their growth will be limited if they are unable to cope with the increase in payment volume they expect sufficiently. Topping the list of 10 other challenges they face with their Accounts Payable (AP) systems is inadequate or inefficient communication with vendors or service providers, with 15% saying it is their most important challenge, and another 4% saying it is a challenge. have experienced, but not the most important.