Reefknot, Mastercard co-lead USD 11 mln funding round for UK fintech Previse

Friday 17 April 2020 13:09 CET | News

Temasek joint venture Reefknot Investments and Mastercard have co-led an USD 11 million funding round for UK-based fintech Previse.

Existing investors US-based venture capital (VC) company Bessemer Venture Partners, UK-based VC company Hambro Perks and fintech-focused UK fund Augmentum Fintech also participated.

The current funding round will support Previse's global rollout of its InstantPay technology.

Previse focuses on helping suppliers to get paid quicker by corporate firms. According to Reefknot, the startup uses artificial intelligence to analyse corporate buyer data to detect invoices that need manual intervention so that the rest are paid instantly.

The fintech startup is part of Mastercard's Start Path accelerator programme, and the global payments giant has used InstantPay with a select group of its own suppliers.

Reefknot was founded by Temasek and Kuehne + Nagel in 2019 and invests in logistics and supply chain tech startups globally.

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Keywords: Reefknot, MasterCard, funding, UK, fintech, Previse, suppliers, invoices
Categories: Banking & Fintech
Countries: United Kingdom
This article is part of category

Banking & Fintech