B2B payments today: 40% made by paper check
Today, in B2B payments, Coupa stock fell 25% after a disappointing quarterly earnings report. Plus, Buy Now, Pay Later Playter Raises $1.7M in Seed Funding to Support Growth.
Coupa Stock Drops 25% After Earnings Report
Shares of enterprise expense management platform Coupa Software fell 25% in early trading Tuesday (March 15) after the company’s quarterly earnings report and management’s weak guidance for this fiscal year, a report said. Investors Business Daily.
The San Mateo, Calif.-based company announced its fourth quarter results on Monday evening (March 14), leading to a 25% decline in early trading on Tuesday (March 15). Coupa said its earnings, on an adjusted basis, rose 12% to 19 cents per share, while revenue jumped 18% to $193.3 million.
This time last year, Coupa reported earnings of 17 cents a share on sales of $163.5 million.
BNPL B2B platform player raises $1.7 million
UK growth platform Playter, which offers buy now, pay later (BNPL) billing to startups, has raised $1.7m in seed funding, according to a blog post on Tuesday (March 15th), claiming that it would use the money to support its growth over the next few months.
Playter said its size and revenue has increased by more than 1,000% in recent months. The company said it lowers usage rates for small and medium-sized enterprises (SMEs) and gives them control over payment terms. It also allows startups to use BNPL for online purchases and service expenses to free up capital.
B2B payments: 40% are made with paper checks
Some experts estimate that 40% of all B2B payments in the United States are still made by check, which means that they play a vital role for a large part of businesses, as indicated in “The Treasurer’s Guide To AR Payment Optimization” , a collaboration between PYMNTS and CheckAlt. .
More than four in five businesses (81%) pay other businesses by paper check, making it the most common B2B payment method, even amid efforts to digitize businesses due to the pandemic.
Many companies’ traditional AR and AP processes are designed to support all aspects of paper check payments, making it difficult for some to fully transition to digital B2B payments.
Bazaar raises $70m in Pakistan’s second largest funding round
Pakistan-based B2B e-commerce startup Bazaar Technologies raised $70 million in what was the second-largest funding round ever in the country, according to reports on Tuesday (March 15).
The company, which operates in 21 cities in Pakistan, provides small merchants in more than 500 cities with services including procurement, fulfillment, operating software, digital loans and supply chain products. It is on track to become the nation’s largest technology-backed last-mile delivery provider by the end of 2022.