Balance, a Tel Aviv, Israel- and NYC-based leader in B2B marketplace and eCommerce payments, has announced a $56 million Series B fundraise, bringing the company’s total funding to $87M.
The round was led by Forerunner Ventures with support from Salesforce Ventures, Hubspot Ventures, Lyra Ventures, and Gramercy Ventures. Notable leaders in B2B eCommerce also participated in the round as angel investors, including former Shopify CMO Jeff Wisener, Faire CTO & co-founder Marcelo Cortes, as well as previous investors Ribbit Capital, Lightspeed Ventures, Avid Ventures, Upwest, and Jibe.
The balance will use this funding to expand its offerings to new, global eCommerce platforms and enable B2B merchants to grow their digital revenue.
Company: Balance Payments, Inc.
Raised: $56.0M
Round: Series B
Funding Month: July 2022
Lead Investors: Forerunner Ventures
Additional Investors: Salesforce Ventures, Hubspot Ventures, Lyra Ventures, and Gramercy Ventures, Shopify CMO Jeff Wisener, Marcelo Cortes Ribbit Capital, Lightspeed Ventures, Avid Ventures, Upwest and Jibe
Company Website: https://www.getbalance.com/
Software Category: B2B eCommerce Payments
About the Company: Founded in 2020 by PayPal alums Bar Geron and Yoni Shuster, Balance is the top B2B eCommerce payments company offering the first online checkout with omni-channel support built for businesses. With Balance, companies can process any payment method, offer flexible terms, and get paid instantly — all in one place. With offices in Tel Aviv and New York City, Balance has partnered with dozens of B2B marketplaces to shift traditionally offline industries like food, steel, chemicals, and apparel to an eCommerce model that resembles B2C. Balance has over 300 merchants, marketplaces, and customers combined, including a notch, Everywhere Apparel, Bryzos, Felux, Vallourec, and more, as well as partnerships with Shopify Plus, Fabric, and Magento
Source: https://www.businesswire.com/news/home/20220726005348/en/Balance-Raises-56M-Series-B-to-Bring-Global-Trade-Online-With-B2B-eCommerce-Checkout