Fintech platform startup Payouts.com today announced that it has raised $12.1 million in new funding to enhance its vendor relationship management capabilities and advance product development.
Founded in 2022, Payouts.com offers a platform designed to automate and streamline supplier payment processes. The platform offers a suite of capabilities for managing supplier relations to ensure seamless and efficient operations.
The platform seeks to address the issue wherein the digital economy has seen businesses partnering with a diverse range of suppliers, but managing those suppliers creates a challenge, even for large companies. Payouts.com argues that the surge in relationships has created a complex web of financial and operational challenges that require a new approach to payout and supplier management.
That’s where its platform steps in. Offered with an intuitive interface, it optimizes the entire payments workflow, from supplier onboarding and connection management to the execution of payouts. The platform provides integration support with more than 600 enterprise resource planning systems to streamline financial operations to enable efficient management of payments.
Other features of the platform include support for multi-currency accounts, a vendor portal that aids in financial management and compliance and tools for managing tax documentation and ensuring adherence to financial regulations.
Payouts.com also supports for multiple payment methods, including bank transfers, eWallets and cryptocurrencies. That’s complemented with real-time tracking and customizable reporting tools that enhance visibility into cash flow and financial management.
NFX Guild Management Company led the funding round, with iAngels Crowd Ltd., Eddie Shalev, the founder of Genesis Ventures and Boaz Weinstein, the founder of Saba Capital Management LP, also participating.
“We are confident that Payouts.com’s cutting-edge technology will transform the management of supplier relationships and mass payouts in the digital economy,” said NFX co-founder Gigi Levy-Weiss. “Their emphasis on automation, customization and exceptional user experience meets the evolving demands of modern businesses.”