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Balance, a B2B marketplace and e-commerce payments firm, has raised $ 56 million in a Forerunner-led Series B funding round.
Balance CEO Burgeron
The round also included Salesforce Ventures, Hubspot Ventures, Lyra Ventures, Gramercy Ventures, as well as many angel and former investors Ribbit Capital, Lightspeed Ventures, Avid Ventures, Upwest and Jibe.
Balance says it will use new money to boost growth to help more B2B merchants grow their digital revenues.
Launched in February 2021 by PayPal graduates Bar Geron and Yoni Shuster, Balance claims to offer the first online checkout solution with omni-channel support for businesses.
According to Balance, the tool allows businesses to handle any payment method, provide flexible net funding and receive immediate payments.
Buyers have the flexibility to make payments with just a few clicks, much like a consumer website, the company adds.
With offices in Tel Aviv and New York City, Balance brings together more than 300 merchants, markets and customers to “turn traditional offline industries such as food, steel, chemicals and apparel into a B2C-like e-commerce model. It helped me make the transition. ” “.
Since I was at PayPal, I realized that no one was taking the opportunity to unleash the potential for B2Be commerce and marketplace payments, said Bar Geron, CEO and co-founder of Balance.
Balance finally raised $ 25 million in a Series A funding round in August 2021.
