Today in B2B: Eka targets cash management
Today, in B2B, Lenovo and Behalf are teaming up for B2B financing and Eka’s cash management tool gives business leaders more financial information. Additionally, OakNorth is now valued at $ 5 billion, Trust and Plastiq are teaming up for marketing payments, and nearly two-thirds of tech companies are adopting automated AR tools for their businesses.
Trust, Plastiq partner on the new marketing payment method
Corporate card company Trust announced a partnership with smart payments platform Plastiq on Tuesday (September 28) that allows businesses to use their Trust cards to pay for a greater portion of their marketing investments.
Trust members will have up to 90 days to pay and the ability to pay bills where cards aren’t taken, according to the company’s announcement, including marketing investments on major advertising platforms including Amazon, Google, Facebook, LinkedIn and TikTok.
Cloud Platform Eka deploys a cash management tool
The cloud platform Eka Software Solutions launched Tuesday, September 28 Eka Treasury Management, a tool designed to give CFOs a better understanding of their businesses.
Cash management provides businesses with up-to-date information on corporate data to help them better understand their cash flow, liquidity positions and currency risk, the software company said in a press release. .
Lenovo uses Behalf to provide financing to B2B customers
Computer maker Lenovo is teaming up with finance firm B2B Behalf to offer what companies are calling “flexible and extended financing” to its business customers, according to a joint announcement on Tuesday (September 28th).
Behalf’s purchase financing provides consumers with a Buy Now, Pay Later (BNPL) option focused on B2B relationships, the companies said in the announcement.
65% of tech companies have adopted automated AR payment tools
Almost two-thirds (65%) of tech companies have adopted automated accounts receivable (AR) payment tools, according to the Innovating B2B Payments Report by PYMNTS and i2c Inc.
Tech companies rank in the middle of the pack among five industry sectors polled for the Innovative B2B Payments report, below energy companies (71%) and advertising companies (68%), but ahead of healthcare (56 %) and construction (48%).
UK Commercial FinTech Bank OakNorth valued at $ 5 billion
UK commercial startup bank OakNorth was valued at $ 5 billion following mortgage lender Indiabulls Housing Finance’s sale of part of its 40% stake in FinTech, The Block Crypto reported, citing sources anonymous.
Indiabulls, headquartered in Gurugram, Haryana, India, is the country’s second largest housing finance company. It sold 251 crores (about $ 34 million) of its stake in OakNorth, which it acquired in 2015, according to a regulatory filing.