Payouts.com adds $8M to Seed round for payments and vendor management platform
Payouts.com adds $8M to Seed round for payments and vendor management platform
The company, which initially raised $4.1M in Seed funding in Q4 of last year, has developed an AI-powered solution that enables businesses to automatically manage payments and vendor relationships.
Payouts.com, which has developed a fintech platform for payout and vendor management, has added $8 million to its Seed round, bringing it to a total of $12.1 million. This investment was led by NFX, with notable contributions from Eddie Shalev, founder of Genesis Ventures, Boaz Weinstein, founder of Saba Capital Management and iAngels. The startup raised an initial $4M in Seed funding in the last quarter of 2023.
Payouts.com’s platform aims to help businesses and digital suppliers by fully automating and streamlining supplier payment processes. The platform offers a suite of capabilities for managing supplier relationships. The platform optimizes the entire workflow, from supplier onboarding and connection management to the execution of payouts.
The company plans to use the funding to enhance its VRM capabilities, develop the product, and expand the team.
“For businesses in the digital economy, managing global mass payments and digital supplier relationships is a critical challenge,” said Leor Ceder, CEO of Payouts, who founded the company with Barak Hirchson.
