More
    HomeNewsBalance Secures $56M Series for Global Trade Online With B2B eCommerce Checkout

    Balance Secures $56M Series for Global Trade Online With B2B eCommerce Checkout

    Published on

    - Advertisement -

    Israeli-based B2B marketplace and eCommerce payments company, Balance has announced that it has raised over $56 million in Series B, which brings its total funding to date at over $87M.

    The round was led by Forerunner Ventures with support from Salesforce Ventures, Hubspot Ventures, Lyra Ventures, and Gramercy Ventures.

    Notable leaders who took part in the funding round as angel investors included former Shopify CMO Jeff Wisener, Faire CTO & co-founder Marcelo Cortes, as well as previous investors Ribbit Capital, Lightspeed Ventures, Avid Ventures, Upwest and Jibe.

    Balance's Checkout Illustration
    an Illustration of Balance’s checkout experience

    Balance plans to use the funds raised to “expand its offerings to new, global eCommerce platforms and enable B2B merchants to grow their digital revenue”. The company plans to focus on integrating with more ERPs, CRMsand invetnroy systmes; supporting more countries and currencies along with the continued scalling of its payment capabilites.

    Launched last year, February 2021, Balance has supported hundreds of B2B merchants and marketplaces, growing its customer base by 10x.

    “From my time at PayPal, I realized no one was tapping into the opportunity to unlock the potential of B2B eCommerce and marketplaces payments,”

    “We’ve entered the fourth ‘Industrial Revolution’ that will take global trade online, creating a truly efficient market. Balance is bringing centuries-old systems into the modern-age through the power of digitization.”

    said Bar Geron, CEO and co-founder of Balance

    The B2B payments was valued at USD 1,000 billion in 2021 and is projected to reach US$2.5 billion by 2030 per a report via StraitsResearch.

    Online Merchants and marketplaces in the industries of lumber, freight, logistics, chemical, steel, apparel, retail and food use balance.

    Companies such as MaterialsXchange, a marketplace for buying and selling lumber and panels; ChemDirect, a marketplace for companies that need on-demand chemical supplies; Abound, a wholesale marketplace for retail; and notch, an ordering platform for restaurants and distributors.

    BITVoxy.com participates in affiliate programs to help cover operating expenses. We may earn/receive a small percentage of sales(Commission) from affiliate links. Learn more.

    Lance Cameron
    Lance Cameron
    Digital Explorer, Blogger/Writer/Analyst, Web Developer & Internet Marketer (#Web #SEO), Founder/Editor @BITVoxy

    More like this

    Latest articles

    Kahoot! Launches New Google Classroom Add-on

    Oslo-based learning and engagement platform company, Kahoot has announced the launch of their Kahoot!...

    Microsoft Rewards Expands to 40+ new countries

    Microsoft has announced that it has expanded its Microsoft Rewards program to an additional...

    Rogue AI Simulator Demo Now Live on Steam

    Publisher Surefire Games and Malaysian game developer Nerdrook Productions have announced that the demo...

    Trending

    17+ Fun Online Politics and Nation Simulation Games

    Searching for an online nation Simulation Game? In this article, we provide a list...

    The Ultimate List of text-based online mafia games

    Looking for text-based online mafia games? Want to be a crime boss like the...

    Robinhood Snacks Podcast Rebrands as The Best One Yet aka TBOY

    The Robinhood Snacks podcast has not only gone independent but is now called The...