Latest news with #B2Bpayments
The Australian
5 days ago
- Business
- The Australian
Is Lessn Australia's Melio?
Xero's Melio deal proved payments are the prize Lessn raised big-time from serious backers Early days yet but traction is kicking in Special Report: As Xero writes a $3.9 billion cheque for Melio, eyes turn to the next potential rising star in the B2B payments space. When Xero announced in June it was buying US-based payments platform Melio for a staggering $US2.5 billion (around $3.9bn), the deal received plenty of attention. It was a bold, strategic swing at finally cracking the US market after years of trying. And the message was clear – the future of small business software lies in owning the money flow, not just the books. Melio, despite still being unprofitable, had traction. With $30 billion in payments flowing through its platform and a slick integration into accounting software, it became essential plumbing for small businesses. And for Xero, which had spent the better part of a decade laying groundwork in the US with limited success, Melio was the missing piece. Now, investors are asking: who's next? Heavyweight backers That question could well lead us back home – to the Sydney-based Lessn – a fast-scaling B2B payments platform some are quietly calling Australia's Melio. Lessn recently confirmed it had raised more than $1 million from a tight-knit crew of heavyweight investors. We're talking serious pedigree here, including: Michael Masterman (the man behind Element Zero and Twiggy-linked ventures), Dean Swan ( Asia Pacific), Brendon Cook (founder of oOh! Media), and Ian Lennie (Zepto Payments founder), just to name a few. It wasn't a public raise, and it didn't need to be. But it was heavily oversubscribed. 'We're backed by investors who understand what it takes to grow a FinTech at scale – and they believe in where Lessn is going,' said founder and Chief Growth Officer, David Grossman. 'This capital gets us to cash-flow positive and lets us keep building with focus. 'We're staying lean, staying fast, and staying laser-focused on delivering value to our customers.' So, what's the fuss about? Lessn isn't trying to reinvent accounting software. Instead, the platform wraps around it – plugging into platforms like Xero, MYOB and QuickBooks, then takes care of the grunt work using automation. Once it's connected, Lessn gets to work: moving money, handling payments, approvals, scheduling and reconciliation – all the clunky admin that tends to pile up on finance teams. It routes everything through a secure digital wallet, acting as a kind of orchestration layer between accounting and actual payment execution. It strips out the mess of ABA files and awkward card workarounds, and gives finance teams better visibility and control. Even suppliers who don't take cards can still be paid by card. For accounts teams, it's less chaos. For bookkeepers and small businesses, it's one less thing to wrestle with. And it's not just SMEs. Lessn's platform is being picked up by tradies, construction firms and property managers, all of whom have long been stuck in admin-heavy processes. It's also helping businesses handle everything from COGS and FX payments to everyday expenses with a single system. The roadmap is expanding fast, too. With the fresh capital, Lessn says it will be fuelling its hiring, shipping new features, and strengthening its product moat in a fast-moving payments ecosystem. Early days, real moves Lessn's month-on-month growth is currently sitting at around 30%, with users processing an average of $85,000 each per month through the platform. Those numbers may sound modest in Melio terms, but it's worth remembering where Melio started... and how quickly things can accelerate once product-market fit locks in. Behind the scenes, the team is clearly fired up. 'Lessn solves real problems for our customers in an inventive way, which is what inspired me to join the team – in what has been the most exciting move of my career,' said Annie Porter, the company's account management and sales support lead. 'Watching David defeat every single obstacle at a relentless pace is where the team derives their determination and belief in Lessn's future.' Of course, it still has a way to go before hitting Melio's $30 billion run-rate or attracting global M&A suitors. But the company is keeping things tight, building real customer traction and solving the kinds of problems most businesses still quietly put up with. Whether it ends up as Australia's next billion-dollar fintech or not, the runway looks long and the wind is at its back. This article was developed in collaboration with Lessn, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Finextra
6 days ago
- Business
- Finextra
TransferMate secures in-principle approval from MAS to add payment services
TransferMate, the world's leading provider of embedded B2B payments infrastructure as a service (IaaS), today announced TransferMate Pte. Ltd. has received in-principle approval from the Monetary Authority of Singapore (MAS) to add account issuance, domestic money transfers and e-money issuance to its Major Payment Institution (MPI) license. 0 This milestone further deepens TransferMate's regulatory footprint in APAC, enabling it to expand its local services and deliver even greater value to partners and customers operating in and out of Singapore. This license expands TransferMate's existing suite of products in Singapore, to now include the ability to store funds in a local dedicated Global Account. By unlocking these capabilities, TransferMate's Global Accounts solution becomes even more powerful for clients with operations in Asia, making it easier to move money into and out of the region, convert currencies, and run payroll or supplier payments - all from one platform. 'Singapore is fast becoming the financial heartbeat of Asia, and securing in-principle approval from MAS marks a major step forward in our commitment to the region,' said Gary Conroy, CEO of TransferMate. 'With this license, we'll be able to offer our customers even more flexibility and control over how they manage and move their money across APAC - whether it's holding funds long-term or receiving funds in their own name.' TransferMate owns the largest fintech payment infrastructure in the world, empowering businesses to make, receive, and hold payments in over 140 currencies across 200+ countries and territories. Its latest announcement comes as it continues on its trajectory towards securing 100+ licenses globally. With Singapore as a strategic APAC hub, TransferMate is well-positioned to help businesses simplify financial operations, reduce costs, and scale globally with confidence.
Finextra
7 days ago
- Business
- Finextra
Noah and VelaFi to bring real-time stablecoin B2B payments to Latin America
VelaFi, Latin America's leading provider of stablecoin-based financial infrastructure, and Noah, one of the world's most established stablecoin-powered payment networks, announce a strategic partnership to expand access to virtual USD and EUR accounts with real-time stablecoin settlement. 0 This alliance brings together two complementary forces in modern finance: VelaFi's regulatory-grade infrastructure and regional leadership in Latin America, and Noah's globally licensed stablecoin rails for virtual accounts, FX, and international payouts. Together, they're delivering a new standard in cross-border finance with compliant, efficient, and borderless payments for businesses navigating complex global markets. And the timing couldn't be better. Stablecoins are surging, growing from USD 160 billion in 2024 to over USD 250 billion by mid-2025. In Latin America alone, the B2B cross-border payments market is projected to reach USD 57 billion by 2030 as institutions increasingly demand efficient and compliant ways to scale across regions. This seismic shift is creating the conditions for a new kind of financial infrastructure - one that VelaFi and Noah are now building together. Through this partnership, VelaFi's institutional clients gain direct access to over 70 international payment corridors powered by Noah's global infrastructure. This includes USD and EUR virtual accounts, which serve as the foundation for faster and more cost-effective settlements using stablecoins such as USDC and EURC. With payouts available in local currencies across multiple markets, the integration improves treasury efficiency, foreign exchange management, and cash flow visibility for business clients operating in regions like Mexico, Hong Kong, and Singapore. This collaboration signals a broader shift in how modern enterprises move value across borders. By combining VelaFi's leadership in Latin America with Noah's global infrastructure, the partnership enables a new generation of cross-border payments where business clients can operate with greater speed, clarity, and control through embedded access to modern tools like multi-currency virtual accounts and instant, stablecoin-based settlement. Noah, in turn, deepens its reach into Latin America by partnering with VelaFi's regulatory-compliant infrastructure and growing enterprise client base. This expansion reinforces Noah's commitment to building seamless global financial connectivity, starting with strategic markets such as Mexico, Argentina, Brazil, and Colombia. 'This partnership with Noah marks a new chapter in our mission to connect LATAM with the world through modern, compliant infrastructure,' said Maggie Wu, CEO and Co-Founder of VelaFi. 'We are moving beyond traditional barriers and offering institutions the kind of cross-border tools that were previously out of reach: transparent, real-time, and built to scale.' 'This partnership brings our vision for borderless business payments to life. By offering virtual USD and EUR accounts with real-time stablecoin settlement, we're enabling enterprises in LATAM and beyond to move money globally with the speed, transparency, and control they expect from modern infrastructure,' said Shah Ramezani, CEO & Founder at Noah. 'Together with VelaFi, we're setting a new standard for compliant, scalable cross-border payments.'
Yahoo
02-08-2025
- Business
- Yahoo
Mastercard (MA) Expands Receivables Manager and Commercial Direct Payments Worldwide
Mastercard Incorporated (NYSE:MA) ranks among the . Mastercard Incorporated (NYSE:MA) announced on July 29 that Mastercard Receivables Manager, its automated solution that makes accepting virtual cards easier, safer, and more affordable for businesses, is now widely available across the globe. Mastercard Incorporated (NYSE:MA) is also launching Commercial Direct Payments, a cutting-edge straight-through processing solution that fully automates virtual card payments and reconciliation, to provide payment service providers more freedom in how they offer B2B payment innovations. A recent global Mastercard Incorporated (NYSE:MA) poll found that while two-thirds of B2B suppliers still admit to frequently failing to meet customer payment expectations, 93% of them said that digitizing payment processes is a major goal for their company. Mastercard Incorporated (NYSE:MA) is a multinational payments technology company. By facilitating safe and effective electronic payments, it links customers, banks, retailers, governments, and enterprises. While we acknowledge the potential of MA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. Read More: and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-07-2025
- Business
- Yahoo
Fortis purchases B2B payments firm Serve First Solutions
Fortis, a company that specialises in embedded payment technology, has acquired B2B payments firm Serve First Solutions. Serve First Solutions, as detailed on its website, provides an array of payment services, including processing for B2B cards, retail point of sale systems, e-commerce, and mobile payment solutions. Serve First Solutions chief revenue officer Matthew Greco said: 'Joining Fortis allows Serve First to bring our expertise to a broader market of software platforms. Together, we'll deliver powerful, integrated solutions with the service excellence customers depend on.' Fortis will integrate Serve First's B2B-focused expertise and customer service approach with its own technology and enterprise resource planning (ERP) capabilities to improve the efficiency of payment technology systems for businesses that manage payments across multiple channels. Fortis anticipates that this acquisition will facilitate its entry and growth in essential market segments, notably in the wholesale, distribution, and manufacturing industries. The enhanced capabilities resulting from the merger are expected to provide software platforms and their business users with a set of tools and services, as well as improved support for critical financial transactions. Fortis CEO Greg Cohen stated: 'By combining our technology with a world class distribution and service model, we're not just processing payments—we're helping our clients unlock new revenue and accelerate cash flow. 'Serve First brings deep expertise in B2B payments, and together we'll deliver even more value to customers through integrated solutions built for scale.' In March, Fortis received a joint investment from Audax Private Equity and its existing investor, Lovell Minnick Partners (LMP). "Fortis purchases B2B payments firm Serve First Solutions " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
