Crowdz is a Silicon Valley-based technology startup who has raised $5.5 million in a Series A investment round. The first global Invoice Exchange™ of the banking industry will be launched. Revolutionizing the $9 trillion worldwide receivables market is a purpose behind the designed of the Invoice Exchange™. Product development, marketing, sales, and key team hires are the areas where the amounts will be used.
Barclays Bank, BOLD Capital Partners, TFX Capital Partners, Techstars Ventures, and First Derivatives took part in the funding round.
The Co-founder and the Chief Executive Officer (CEO) at the Silicon Valley-based technology startup Crowdz Payson E. Johnston said, “While companies of all sizes can benefit greatly from our global Invoice Exchange, we founded Crowdz with the goal of ensuring that all small and midsize enterprises (SMEs) in particular have access to the cashflow they need in order to survive and grow. Unfortunately, millions of these companies – which account for 75% of global B2B commerce and which need invoice financing the most – have long been excluded from the market. We are pleased to have Barclays and Bold as our strategic partners as we accelerate this journey.”
The first global Invoice Exchange™ will be based upon blockchain technology. It will have a built-in business-to-business (B2B) payment gateway. Small-scale, medium-scale, and large-scale all businesses can digitize invoices automatically and speed up invoice-payment collections and the cash-conversion cycle. Orders, invoices, and payments can be associated with one another for efficient settlement purposes than ever. Companies will be allowed for the submission of their invoices for bank and investor financing and they no need to file additional paperwork. They will also be allowed for receiving offers from various funders, Yahoo Finance reported.
The Silicon Valley-based technology startup Crowdz is also known as a B-Commerce Company™. It is recognized as the creator of the first blockchain-based B2B e-commerce marketplace across the globe. It applies cutting-edge blockchain and artificial intelligence (AI) principles to traditional B2C and B2B marketplace models in order to automate product search & sourcing. This applying is also for speeding up commercial transactions and streamlining predictive-data analytics, according to the official LinkedIn account of Crowdz.