Traxpay bags USD 4 million to redefine B2B online payments

Redefining the online B2B payment process

Traxpay, a B2B real-time payment provider, has bagged investment of USD 4 million in a round led by Earlybird Venture Capital. The company will use the money to continue momentum with customers in Europe and prepare for US expansion in Q3 of this year. Traxpay is focused on redefining the online B2B payment process with an enterprise-level solution for sending and receiving payments across a supplier and/or customer network.

Online B2B payments represent a nearly USD 250 billion market with many inefficiencies, and we think it is a massive opportunity for innovation.” said Jason Whitmire, partner at Earlybird. “We evaluated more than 10 companies in this space before choosing to invest in Traxpay. Traxpay’s blend of enterprise software, payments and banking expertise will deliver one of the most disruptive technology solutions since PayPal reshaped the B2C payments market.”

Traxpay has also announced the appointment of John Bruggeman as CEO. Bruggeman has 15 years of C-level experience and has served on the executive teams of enterprise software companies Cadence, Wind River, Mercury Interactive and Netscape.

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