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Routable Raises $ 30 Million to Bring Businesses Up-to-date Business Payments

San Francisco-based B2B payments startup Routable has raised $ 30 million in a Series B funding round led by OpenAI CEO Sam Altman, former Y Combinator CEO, and Lattice CEO Jack Altman.

Flexport and a number of angels participated in the round of Routable, a graduate of Y Combinator. It automates accounts payable and accounts receivable and connects directly to accounting software to handle invoice processing and invoice routing.

After breaking out of stealth last summer, Routable increased revenue by 380% by signing up for packages that promise to overcome problems associated with custom-built business payment software.

The new funds will be used to expand the team and expand the luxury enterprise into the enterprise space.

Omri Mor, CEO of Routable, said: “The B2B payments industry is projected to be around $ 125 trillion, and ACH, Cash & Check represent about $ 122 trillion in market opportunities.

Routable Raises $ 30 Million to Bring Businesses Up-to-date Business Payments

Source link Routable Raises $ 30 Million to Bring Businesses Up-to-date Business Payments

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