Restaurant management and bill payment platform MarginEdge has scored $45m in a round of Series C funding.
The round was headed by Ten Coves Capital and saw participation from Fiserv and Derive Ventures.
Founded in 2015, MarginEdge offers a platform that offers invoice processing, inventory management, budgeting, recipe analysis, supplier bill payment capabilities and performance tracking.
The company is integrated with over 50 POS and accounting platforms. According to FinSME, during 2022, the company entered into strategic collaboration and integrations with partners such as Intuit, Gordon Food Service, 7shifts, and SpotOn.
With a team of over 500 people, MarginEdge services over 4,000 restaurants in all 50 states and Canada and processes over $3 billion in annual invoices.
MarginEdge plans to use the newly raised capital to continue scaling the team and broadening the functionality of core product offerings.
Latin American open finance platform Syncfy recently raised $10m in seed funding, as it prepares to grow across the region.
Point72 Ventures served as the lead investor, with commitments also coming from JAM Fund, Ausum Ventures, Avalancha Ventures, FJ Labs, MANTIS Venture Capital and XBTO Humla Ventures.
Notable angel investors also joined the round, including Tether co-founder Brock Pierce and Quantum Artificial Intelligence engineer Hartmut Neven.
Syncfy enables single API access to financial data from 125+ different banks, digital wallets, tax authorities, utility providers, crypto exchanges, and blockchains across 15+ countries in Latin America, as well as internationally.
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