Friday, May 12, 2017

Fintech startup Invoice Bazaar raised undisclosed amount of funding

Dubai-based fintech Invoice Bazaar has raised undisclosed amount of funding from former Asia-Pacific CEO and chairman at Citigroup Shirish Apte.

As a part of the deal, he will join the advisory board of Invoice Bazaar.

Also read: Andhra govt to give $1 million prize to financial technology startup

He said, I found the business model of Invoice Bazaar compelling, as it complements banks’ offering rather than trying to compete with banks. Invoice Bazaar offers a buyer-centric supply chain finance platform. Invoice Bazaar’s supply chain finance platform connects large buyers with small and medium-sized suppliers. This helps the SME suppliers to avail early payment on their receivables. The startup partners with local banks to provide liquidity support to SME suppliers against their receivables.

It is operated in Dubai, India and Singapore.



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