Apron, the innovative payment solutions provider, has successfully completed its Series B funding round.
Building on the momentum from its initial $15m Series A, Apron has raised an additional $30m to continue its mission of simplifying the payments process for small to medium-sized businesses (SMBs).
The latest investment was spearheaded by Zinal Growth, a growth-stage focused tech fund supported by the Checkout.com founder. Existing backers including Index Ventures, Bessemer Venture Partners, and Visionaries Club also participated, along with Tony Fadell, inventor of the iPod and Principal at Build Collective.
Apron is dedicated to enhancing how businesses handle financial transactions, from managing invoices to executing payments efficiently. By integrating tools for invoice capture and payment processing into one seamless platform, Apron aims to minimize manual labor and financial waste for business owners and financial professionals.
With the fresh capital, Apron plans to expand its product and engineering teams in anticipation of launching major new features in 2025. These developments include a new product for larger suppliers to expedite payments and a novel expense management product designed to save business owners even more time.
Additionally, improvements to existing services such as Apron Pay and Apron Capture are on the agenda, with the upcoming introduction of the Apron Card, a straightforward and cost-effective expense management solution.
Moreover, Apron is set to enhance its offerings for large suppliers who often struggle with inefficient accounts receivable tools. The new platform will act as an easy-to-integrate layer over existing ERPs, promising faster payments and reduced manual efforts for suppliers.
Investor Tony Fadell commented on the funding, highlighting Apron’s impact: “Apron gives any small, even only one person, business the same financial tools as a large size company without the cost or complexity. It’s moving small businesses forward as business owners can now focus on serving their customers and spend their time actually running the business day to day. Apron gives SMBs the tools to do business better and more efficiently.”
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