Today in B2B: keeping customer payments in-house
Today, in B2B payments, Limepay says everyone wins when companies keep customer payments in-house, and Rali_cap unveils a $30 million fund for FinTechs in emerging markets. Additionally, companies can compete for more talent if they streamline their background checks, and Morgan Stanley is selecting 10 small companies for its academy program.
Fast and fair background checks help companies compete for talent
In the war for talent, background checks are quickly becoming another hurdle companies must jump through as they race to find great candidates before the competition scoops them up.
Traditionally, these checks were slow, manual and inefficient, often taking two weeks or more. And they have been anything but transparent to employers and applicants.
Checkr announced last month that it had acquired GoodHire to expand into the small business market. Businesses can use the artificial intelligence (AI) technology offered by Checkr to speed up checks in various ways. One example: it can automatically categorize criminal charges in US jurisdictions, making language easier to understand and reducing time spent on manual review.
Keeping customer payments in-house, a win-win solution for businesses
It’s a strategic mistake for merchants to send customers to a third-party payment provider right at the end of their shopping journey. Instead, they should keep the customer within their own ecosystem.
This is the idea that led to the launch of Limepay about two years ago. The payment platform company started out in the e-commerce space, helping merchants build their own branded payment solutions, including everything from comprehensive payments to buy now, pay later (BNPL).
On April 20, the company launched a new digital business-to-business (B2B) payment system called Limepay STACK that simplifies B2B payments and offers a range of payment options, including BNPL. Limepay partners with banks, with banks lending while Limepay provides credit as a service that enables businesses to accept payments.
Morgan Stanley names 10 small businesses to its Academy program
Morgan Stanley’s Institute for Inclusion and Morgan Stanley’s Supplier Diversity Program have established the bank’s inaugural Small Business Academy class, which will promote equity and diversity for small business leaders, according to a press release.
The initiative will help small businesses improve their sourcing, business acumen and professional networks. The report says the courses are 12 weeks long, virtual and instructor-led. Then there is a one-year mentorship program.
Ten small businesses were selected for the program: Blu Fable, a creative content agency; Hootology, a market research company; Impact Consulting, a management consulting firm; InnovatorsBox, a workplace consultant; IT Creative Labs, a software company; Runaway Train Productions, a video producer; Sam’s Word, a design and digital marketing agency; Solvitur Systems, a cybersecurity company; The Posture People, an occupational health consultant; DPC of the TLZ architecture.
Rali_cap launches $30 million fund for emerging market FinTechs
Rali_cap, a start-up venture capital firm that invests in emerging market FinTechs, has raised its new fund by $10 million, after the company, formerly called Rally Cap Ventures, last month reached a closing for $20 million, which was his original target. Then he increased the size of the fund to $30 million.
Rali_cap invests in business-to-business (B2B) and application programming interface (API) FinTechs in Latin America, Africa and South Asia, at pre-seed and seed stages. The company expects to obtain a second closing by the end of June.
Haymond Simmons, the general partner who started the business in 2020, said it was a collective before becoming a fund. He said he sees a good opportunity to bring together a community of experts, including operators and angels, to collaborate on deal sourcing, due diligence and founder support, while investing in FinTechs. emerging.