That is massive because deposits fund all lending activity. □ SVB has a cost of living crisis. Imagine losing 11% of your ability to generate income and seeing your costs rise by 2%. SVB lost 11% of deposits *in a single year*. Additionally, SVB customers' deposit base is dwindling as the tech correction bites. Silicon Valley Bank (SVB) stock dropped 60% on Thursday after announcing it would sell 10s of billions of securities at a loss. Two Raises $19.4 Million for Global B2B Payments Solution #b2bpayments #workingcapital #BSM #procurement #payments #Fintech #BNPL and the Nordics, and, with their recently announced banking partnerships, Two can now offer a truly global B2B solution for large multinational corporations.”Īs PYMNTS reported in January, the B2B BNPL product for multinational corporations enabled by the partnerships is an example of how digital technologies are driving innovation in trade finance, enabling faster decision-making and more streamlined processes. “This has already led to explosive growth with businesses in the U.K. “The world-class Two team is building an end-to-end global solution for B2B transactions across all sales channels,” Shine Capital CEO and founder Mo Koyfman said in the release. The latest round was led by Shine Capital and Antler and comes on the heels of the January announcement that Two, Allianze Trade and Santander have partnered on a buy now, pay later (BNPL) solution for large businesses. This new funding joins a previously unannounced round that raised 10 million euros (about $10.8 million), bringing the FinTech’s total capital to 28 million euros (about $30.2 million), Two said in a Tuesday (March 21) press release. Two has raised 18 million euros (about $19.4 million) for its B2B payments solution.
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