B2B Payments go big! High Radius secures $50 million funding1 year ago Monika Guwalani
HighRadius Corporation secures a $50million funding from Susquehanna Growth Equity. A leader in Integrated Receivables Software, HighRadius aims to use the funding to continue its aggressive growth and expand its presence globally. With over 100’s of Global 2000 companies as customers including Adidas, Cargill, Danone, Johnson & Johnson, Procter & Gamble, Starbucks, Sysco, Warner Bros. and Zurich, the fintech leader is headquartered in Houston, Texas with international offices in Asia and the UK.
Fintech at its best!
Companies go through thousands of accounts receivable operations, including credit, collections, cash application, deductions and payments every year. Although all business processes rely on human-generated insight and analysis for success, it isn’t practically possible for an analyst to effectively scale to credit and A/R requirements, given the bulk transactions they deal with.
Added to this, the probability of analysts to account for all various dimensions, patterns and combinations that influence credit and A/R outcomes, is nearly zero. They then turn to rely on individual judgement based on experience. The one stop solution: HighRadius.
High Radius in the limelight
Decision making is an integral part of every process. HighRadius delivers solutions that combine the power of Machine Learning with rich A/R data, to help credit and A/R departments reduce manual work, and smartly interpret outputs through algorithms.
With the power of analytics, A/R teams could be supported by strong technology that delivers accurate decisions, discovers potential insights and improves productivity to greater scale.
What can we look forward to?
The adoption of Integrated Receivables technology is expected to match that of Accounts Payable automation by 2020. The opportunity is further supported by the size of the B2B payments market, which is five times larger than the B2C market, yet severely under-served today. This ultimately gives startups like HighRadius huge opportunities to tap into markets to disrupt space.
How does it operate?
HighRadius is a Software-as-a-Service (SaaS) based fintech enterprise that helps optimize cash flow through automation of receivables and payments processes across credit, collections, cash application, deductions, electronic billing and payment processing through the HighRadiusTM Integrated Receivables platform. Powered by the RivanaTM Artificial Intelligence Engine and FredaTM Virtual Assistant for Credit-to-Cash, HighRadius Integrated Receivables enables teams to leverage machine learning for accurate decision making and future outcomes. The radiusOneTM B2B payment network allows suppliers to digitally connect with buyers, closing the loop from supplier receivable processes to buyer payable processes. HighRadius solutions have a proven track record of optimizing cash flow, reducing days sales outstanding (DSO) and bad debt, and increasing operational efficiency so that companies may achieve strong ROI in just a few months.
“We have been executing on our vision of enabling receivables functions to achieve ubiquitous electronic payment adoption and process automation – massively reducing paper-based processes and manual work. We have more than 350 clients on our Integrated Receivables platform powered by our Rivana Artificial Intelligence engine and the radiusOne B2B payment network. This funding will help us accelerate our platform to thousands of companies globally. Susquehanna Growth Equity has a proven track record of backing leading financial technology companies, and is a perfect partner for our next stage of growth.”, said Sashi Narahari, Founder and CEO at HighRadius
To explore more, check out HighRadius here: https://www.highradius.com/