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B2B PAYMENTS Big-Name Backers Pump $324 Million Into B2B FinTech

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A healthy $1.1 million in seed funding landed at Payment Rails, a U.S.-based startup that is gearing up to exit beta mode next month. The company uses API technology to facilitate corporate payments to suppliers and employees across the globe, and deploys blockchain (fueled by Ripple) for liquidity and treasury management capabilities. But, perhaps the most important news of this funding, is who provided the backing. Investors included former PayPal president Scott Thompson, who has now joined Payment Rails’ as board advisor, as well as former executives from Visa, Currencycloud, American Express and Slack, according to a press release.


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