Paytron, a full-suite workflow and spend management platform, has secured $250k in funding after it won the Xccelerate venture program.
The program was created by X15ventures, the company who provided the $250k investment. Xccelerate provides founders access to mentors and reports, helping them speed up the growth of their firm and understand the pathway to corporate partnership.
Paytron was founded to transform business spend, with integrated workflows to control every transaction. The company uses workflows to simplify the way accountants, enterprises and mid-market firms manage transactions.
Features of the platform include automated invoice capture, batch payments, and corporate cards with built-in expense management.
Paytron co-founder Jaco Veldsman said, “Fintechs, payments companies and banks working together is key to solving workflow problems for businesses of all sizes. If we don’t work together, we cannot solve the problem completely. It’s as simple as that.”
“A pathway to partnership with CBA is incredibly exciting – and means we can explore ways to bring best-of-breed workflows together with Australia’s leading bank. The opportunity x15 provides for accelerated engagement between a venture like Paytron and a company of CBA’s scale and brand is unique, even without the investment.”
NoFrixion, a business payments startup, recently raised €3.6m in a funding round headed by Middlegame Ventures and Delta Partners.
The funding comes soon after the company’s public launch of its MoneyMoov API, which bridges legacy and digital infrastructure to future-proof business payments.
Copyright © 2022 FinTech Global
