A B2B payments company gets USD 2.25mln in funding

The company will use the funds to connect its technology to more e-commerce platforms and expand product development, marketing and sales.

With the Minneapolis-based Apruve’s technology and services, operators of e-commerce sites can let their customers apply online for credit of up to USD 50,000, or a revolving line of credit up to USD 1 million. Apruve also provides electronic invoicing and collections, forwards orders for payment through the interbank network known as ACH or payment cards, and it underwrites the credit and forwards payment to client sellers within 24 hours for customer orders placed online.

Apruve has built links to such e-commerce systems as Magento, Shopify, BigCommerce, WooCommerce, Volusion and others. Apruve hasn’t identified other e-commerce platforms it plans to integrate with.