This archive report was first published on 25 July 2019.
On July 22, 2019, PayMate, a B2B payments firm in India, announced that it had raised $25 million in a new series D round of growth capital to accelerate expansion within India and internationally.
The investors included Japan's Recruit Strategic Partners, Brand Capital, existing investor Mayfair 101, and Visa. Visa and PayMate will extend their working partnership in India and Central Europe, Middle East, and Africa regions.
PayMate enables Enterprise and SME businesses to seamlessly automate and digitize their entire procurement to payment cycle. The firm's platform provides features such as vendor management, vendor payments, customer payments, invoicing, supply chain financing options, and many more.
PayMate helps businesses become more efficient, cut operational costs, gain greater control and transparency, and improve cash flows. Over 35,000 businesses use PayMate and it processes approximately $5B in payments annually.
PayMate's award-winning platform is currently being used by more than 35,000 customers processing more than $5B in annualized transaction processing volume run rate.
