Now receives $29m in a mix of debt and equity

Now, an invoice payment system, has received $29m comprised of a credit facility and equity investment.

The round was led by Brigade Capital Management and Virgo Investment Group.

With the funds, the FinTech company hopes to help more small business access its payments acceleration service. The equity injection will also support Now’s scaling efforts and enhancing its platform’s capabilities.

In line with the investment, Now has announced Sejal Shah Gulati has joined the FinTech company as its new chief growth officer. Gulati has previously served as the global marketing hub for American Express and the SVP at Genpact.

In the role, Gulati will lead the FinTech company’s growth initiatives, including sales, marketing, client success and product management.

Now CEO and co-founder Lara Hodgson said, “Our clients are passionate entrepreneurs committed to the growth of their businesses, and it was essential that we had someone responsible for our own growth with the same level of ambition and dedication.

“Her wealth of experience and keen business acumen will be an asset to our company and our clients.”

The company offers an invoice acceleration solution, which helps businesses access the cash for a bill instantly.

This investment comes hot off the heels of the latest funding round. Now previously raised $9.5m in June 2021 from Virgo and Cresset Capital Partners.

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