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Balance, one of the leading players in the B2B and e-commerce payments sector, recently received $56 million in Series B funding round. To date, fintech companies have raised a total of $87 million.
Led by Forerunner Ventures, the funding round included participation from notable investors including Salesforce Ventures, Hubspot Ventures, Lyra Ventures and Gramercy Ventures. Balance aims to use the latest funding to expand its offering to drive the growth of its B2B merchants.
Global demand for B2B payments has surged sharply over the past few years as interest in the e-commerce sector has grown. By 2025, it is estimated that around 30% of global economic activity will shift to e-commerce.
For years, consumers have led the modernization of how they transact, but innovation in B2B commerce has lagged far behind the B2C space. Said Kirsten Green, Founder and Managing Partner of Forerunner, said: There is incredible potential to modernize broad aspects of how B2B commerce takes place in the digital age, the market opportunity is enormous, and the $120 trillion of B2B payments currently being made digitally We’re only 7% of the volume, and we’re excited to partner with the team at Bar and Balance as they work to accelerate the transformation of this industry.”
Nowi Kallen, managing director of Salesforce Ventures, believes the B2B payments sector offers broad growth opportunities. Karen added that Balance’s B2B payment platform will become the industry standard in the next few years.
Brandon Greer, Head of HubSpot Ventures, said: “Balance’s end-to-end checkout solution removes friction from the payment process, enabling businesses to deliver the cohesive buying experience today’s customers expect.”
Balance, one of the leading players in the B2B and e-commerce payments sector, recently received $56 million in Series B funding round. To date, fintech companies have raised a total of $87 million.
Led by Forerunner Ventures, the funding round included participation from notable investors including Salesforce Ventures, Hubspot Ventures, Lyra Ventures and Gramercy Ventures. Balance aims to use the latest funding to expand its offering to drive the growth of its B2B merchants.
Global demand for B2B payments has surged sharply over the past few years as interest in the e-commerce sector has grown. By 2025, it is estimated that around 30% of global economic activity will shift to e-commerce.
For years, consumers have led the modernization of how they transact, but innovation in B2B commerce has lagged far behind the B2C space. Said Kirsten Green, Founder and Managing Partner of Forerunner, said: There is incredible potential to modernize broad aspects of how B2B commerce takes place in the digital age, the market opportunity is enormous, and the $120 trillion of B2B payments currently being made digitally We’re only 7% of the volume, and we’re excited to partner with the team at Bar and Balance as they work to accelerate the transformation of this industry.”
Nowi Kallen, managing director of Salesforce Ventures, believes the B2B payments sector offers broad growth opportunities. Karen added that Balance’s B2B payment platform will become the industry standard in the next few years.
Brandon Greer, Head of HubSpot Ventures, said: “Balance’s end-to-end checkout solution removes friction from the payment process, enabling businesses to deliver the cohesive buying experience today’s customers expect.”
