Invoice payment company Previse scores $11m in new round

Previse, which helps suppliers get paid instantly, has bagged $11m in its latest funding round which was led by Reefknot Investments and Mastercard.

Previous backers of the FinTech including, Bessemer Venture Partners, Hambro Perks and Augmentum Fintech, also contributed to the round.

Having secured the new funds, the company is looking to implement its instant payment technology to additional corporate around the world, it claims.

The London-based FinTech leverages AI technology to analyse data from the corporate buyer to identify invoices which need manual intervention, leaving it to automatically handle payments for the others.

Previse co-founder and CEO Paul Christensen said, ?This backing and investment from our new partners will support Previse as our instant payment technology, InstantPay, moves to adoption by more large corporate buyers all over the world.

?Now, more than ever, it is important to increase the resilience of supply chains and support SMEs that economies across the world depend on. The best way to do this is for large corporates to pay invoices fast. We give corporates the tools and incentives to do that, at our risk and with 3rd party (bank) capital.p>

The FinTech secured $7m in its Series A round back in 2018 from investors including Augmentum Fintech and Bessemer Venture Partners.

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