Analysis of behalf
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Behalf has raised over $300 million in funding over multiple rounds from investors like Spark Capital, Sequoia Capital Israel, and Viola Growth. It offers virtual card and ACH payment solutions to address problems in B2B payments like slow processing, manual reconciliation, and a lack of financing options. Its solutions are compatible across online and offline channels and integrate easily through APIs with popular e-commerce platforms.
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Analysis of behalf
- 2. Funding Series Amount ($m) Investors Series A 10 Spark Capital, Sequoia Capital Israel, Jonty Hurwitz Series B 120 Vintage Investment Partners, Spark Capital, Sequoia Capital Israel, Ron Suber, MissionOG, Maverick Ventures Israel Debt Financing 150 Viola Credit, Soros Fund Management Series C 30 Viola Growth, Vintage Investment Partners, Spark Capital, Sequoia Capital Israel, MissionOG
- 3. Problem Areas Slow payments processing by most traditional bank systems, especially for B2B transactions Manual reconciliation is required for transaction verification Customers abandon carts due to lack of convenient payment financing arrangement Complex process of customer qualifying Lack of multi-platform API integration for most payment processing and receivable outsourcing solutions
- 4. Solutions Offered Virtual Card ACH Payment Issued to the business’ customer, to pay for purchases online, in-store or over the phone Completed same day Low value payments made through the electronic network Completed by the next business day after transaction approval
- 5. USP OmniChannel Compatibility – both online and offline customers can derive the benefits of using Behalf for payments Easy-to-integrate API – single-line integration with the commonly used e-commerce platforms, including BigCommerce, Magento, Shopify, WooCommerce and more
- 6. What HappyEMI Can Learn From Behalf Update website for easier navigation and better user experience Create dedicated website sub-pages for individual stakeholder-users like Developers, Retailers, and End Customers Achieve BetterBusinessBureau-equivalent Indian certification to increase user confidence in the company, and/or display the many awards won on the HappyEMI website Examine idea to create an online portal for End- Customers to check their due/payable balances