Financing from funds and accounts managed by Blackrock and existing investors to accelerate Elastic Path leadership in composable commerce. Biller.AI, a Dutch provider of B2B BNPL solutions will become part of the Banking Circle ecosystem. Huboo has acquired Roseta.io and New Vision as part of global expansion strategy. UK website and eCommerce platform BaseKit has announced £1 million in new funding.
Elastic Path secures $60M in growth funding
Elastic Path has announced a $60 million growth financing round from funds and accounts managed by BlackRock with participation from existing investors, led by Sageview Capital. With this new infusion of capital, Elastic Path has now raised over $120 million and is well positioned to continue leading the market transition from traditional, monolithic commerce solutions to Composable Commerce.
This new capital will allow Elastic Path to build on a strong 2021 as the market shift to composable commerce accelerates. The market is rapidly moving to composable commerce. An approach where multiple best-of-breed vendors are “composed” together to create complete, functionally superior commerce solutions optimised for the unique needs of each brand. Elastic Path is involved in the composable commerce movement to make it simpler and faster for brands with complex requirements to deliver unique digital commerce experiences. The company makes this possible by providing a MACH-based commerce platform with unparalleled flexibility. It has pre-composed solutions that make it fast and easy to migrate. They include Composable commerce XA which ensures complete experience assurance for multi-vendor commerce solutions.
Biller.AI joins the Banking Circle ecosystem
Biller, an AI-driven Buy Now Pay Later (BNPL) company focused on business invoices, is set to join the Banking Circle ecosystem of financial services and applications. After closing of the acquisition, Biller will operate as an independent sister company in the Banking Circle ecosystem.
The new generation of B2B buyers expects a fast and flexible payment experience, similar to that of a consumer when purchasing online. Every barrier in the process is one too many. Currently, it’s often only possible to obtain an invoice after a lengthy credit check, a process that can take many days.
Amsterdam-based Biller offers an AI-driven payment method that allows business buyers to order online and pay directly on invoice. While performing real-time credit and fraud checks and a fully automated debtor management service. Biller reduces the operational burden and risk for the business seller while offering speed, flexibility and convenience for the business buyer e.g. Offering the buyer flexible payment terms.
Biller delivers a fast and flexible experience for business payments as it enables the B2B seller to offer the payment service that the buyer is used to from the consumer market, while meeting the need for sellers to perform real-time credit checks. As part of the Banking Circle ecosystem, Biller will build a global, industry-leading provider of B2B payment solutions with full value-chain coverage and scalability and will rapidly expand its geographical and commercial reach.
Huboo acquires specialist integrations provider Roseta.io and parent company New Vision
eCommerce fulfilment technology provider Huboo has announced the acquisition of Bristol-based specialist integration company Roseta.io and parent company New Vision.
The deal will see Huboo incorporate Roseta.io’s innovative eCommerce integration software into its full-stack fulfilment solution. The solution helps customers integrate with multiple online sales channels and marketplaces on a global scale.
Also acquired is New Vision, the bespoke software engineering company that James Blackburn originally founded in 2013. The engineering team at New Vision has extensive experience in building complex solutions for B2B clients in the eCommerce sector but by 2019 the need for a SaaS solution was identified and Roseta.io was created. Through working with eCommerce clients, Roseta.io was developed to provide a solution to a common pain point that many clients were facing. A seamless integration to unlock multichannel sales opportunities in the eCommerce space.
As part of the deal, MD & Founder James Blackburn, Karl Moss (Roseta.io’s Co-Founder & Commercial Director) and the engineering team will work at Huboo to continually develop and enhance the product offering, backed by Huboo’s people and resources. The acquisition was completed at the end of January 2022.
BaseKit announces £1 million in new funding
UK website and eCommerce platform BaseKit has announced £1 million in new funding. The company is looking to broaden its portfolio and serve the boom in online trading.
The Bristol-based SaaS business, set up in 2008, aims to more than triple its turnover over the next three years. From £2.6 million last year to over £10 million by 2025.
A key element in this plan for growth will be the development of its new Go Connect platform, providing a digital one-stop-shop for micro-businesses looking to trade online.
To support the new venture the latest round of funds has been raised from existing board investors including Nauta Capital, Angel Cofund, tech entrepreneur Juan Lobato, Thomas Vollrath, and a number of smaller individual investors.
The funds, which are the first to be raised by BaseKit since 2014, will be used for sales and marketing as well as product development. The investment has also coincided with the appointment of Ryan Jones as the company’s new sales and marketing director.
For the past 13 years BaseKit has offered a website builder platform that has been used to create over 10 million small business websites. The company was named Technology Provider of the Year at the British Small Business Awards in 2018 and has established relationships with some of the leading hosting and telco companies around the world.
