Today in B2B payments, Grovara discusses the opportunity to improve the cross-border B2B eCommerce experience, and HighRadius secures $300 million in new funding. Plus, Ripple takes a stake in Tranglo, Plaid partners with Dun & Bradstreet and Ramp nears a new capital infusion.
Blockchain-based payments provider Ripple said it has agreed to acquire 40 percent of Tranglo, a cross-border payments specialist. This partnership will allow San Francisco-based Ripple to meet growing customer demand in Asia, the company said in a press release. As part of the deal, “Tranglo will continue to provide and expand its current payment services to make cross-border transactions faster, cheaper and more secure for its customers.” For its part, Ripple said that it offers “on-demand liquidity (ODL),” which allows it to “send money instantly and reduce working capital needs.”
Dun & Bradstreet announced Tuesday (March 30) it was working with Plaid to bring alternative data to business credit profiles. The hope is to allow small businesses to securely share financial information to create and improve their credit profile, making Dun & Bradstreet the first service to incorporate permissioned bank data with the purpose of creating new business credit scores.
Business card and expense management upstart Ramp is reportedly near wrapping up two investment rounds that will provide the firm with a $1.6 billion valuation, The Information reported, citing three unnamed sources. The first $65 million round was headed up by D1 Capital Partners and saw the involvement of Stripe and current investors Goldman Sachs and Coatue Management, providing the firm with a $1.1 billion post-money valuation.