As per the press release, Freemarket intends to use the growth capital investment to boost its growth and international expansion. Moreover, part of the sum will be provided as a partial cash-out to the company’s stakeholders. The financial specifics of Baird Capital’s investment in Freemarket have not been made public.
Baird Capital’s investment in Freemarket is consistent with the company’s line of investments in fintechs in the B2B sector. As Michael Holgate, Partner with Baird Capital's Global Private Equity team, stated in the official press release, they aim to further support Freemarket’s growth plans.
As the direct private investment arm of Robert W. Baird & Co., Baird Capital oversees two investment platforms, Global Private Equity and US Venture Capital, and makes investments in B2B technology and services-focused enterprises all around the world. Additionally, via its teams in the US, Europe, and Asia, Baird Capital also provides operational assistance.
Multilateral platforms in payments offer businesses from multiple jurisdictions the option to process cross-border transactions unburdened by any local obligations and challenges that implementing such platforms might include.
Freemarket offers its clients a B2B cross-border payments platform that allows them to send payments in 140 currencies to over 100 countries, and its services can be accessed through a single API integration.
Freemarket Liquidity Network ensures treasury payments, liquidity management as well as intra-company transfers. Apart from providing a cross-border payments platform, the company’s solutions also cover treasury management, risk management, and FX optimisation.
For more information about Freemarket, please check out their detailed profile in our dedicated, industry-specific Company Database.
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