NetNow Raises $1.8M in Pre-Seed Round
NetNow, a Toronto, Canada-based modern trade credit automation platform, has raised $1.8 million in pre-seed funding.
NetNow, a Toronto, Canada-based modern trade credit automation platform, has raised $1.8 million in pre-seed funding.
Investors
The round was led by Ripple Ventures, with participation from Centre Street Partners, Antler, Motivate Venture Capital, and Day One Ventures. Additionally, NetNow received a grant from Intuit for earning The Most Customer Obsessed Company award.
Ripple Ventures is an early-stage venture fund specializing in investments in B2B SaaS startups primarily in Canada and the U.S. They focus on industries ripe for disruption, particularly those involving workflow automation and data & analytics platforms. Their target industries include enterprise software, healthcare technology, and industrial technology.
NetNow Use of Funds
The company will use the funds to accelerate AI product development—specifically to simplify documents, analyze data, and generate risk scores and metrics.
About NetNow
Founded by Nauman Hafeez, Eli Costea, and Soroush Arghavan, NetNow is a modern trade credit automation platform designed to streamline the credit and collections process for wholesalers and distributors, particularly in the building materials industry. The platform leverages artificial intelligence to simplify and automate tasks such as document processing, data analysis, and risk scoring. The company supports businesses across key industries, including lumber & building materials, electrical wholesale, HVAC, heavy equipment, roofing, general wholesale & distribution, and more.
Funding Details
Company: NetNow, Inc.
Raised: $1.8M
Round: Pre-Seed
Funding Date: September 2024
Lead Investors: Ripple Ventures
Additional Investors: Centre Street Partners, Antler, Motivate Venture Capital, Day One Ventures
Company Website: https://www.netnow.io/
Software Category: AI Credit Management
