X

Augment Ventures April 2022 Update

Crowdz Secures Additional $10MM Investment

This latest fundraising was led by new investor, Citi, and Global Cleantech Capital, with with participation from Bold Capital Partners, Augment Ventures, and TFX Ventures. The capital will be used to fund global expansion.

Citi plans to collaborate with Crowdz to grow its recurring revenue finance business, a $170 billion opportunity that is largely untapped, and expand its receivable financing marketplace. On the heels of this financing, Crowdz has secured significant forward flow lines to supply increased demand for SME receivable financing on its marketplace.

Citi joins a growing list of high-profile corporate entities partnered with Crowdz, including Meta (formerly Facebook) and EG Funds Management. Meta has committed $100 million to finance diverse-owned businesses in the US. EG Funds, an Australian fund manager with $5.1 billion under management, is currently setting up a whitein Asia Pacific.

Additionally, a number of clients, including the City of Detroit and AngelsDen, utilize a white-labelled iteration of the Crowdz platform to provide access to working capital for SMEs that impact and power everyday communities, from family-owned businesses to up-and-coming startups across the US and Europe.

Payson E. Johnston, CEO and co-founder of Crowdz, said: “I am excited to announce Crowdz has closed a $10 million round led by Citi with participation from our current investors, including Augment Ventures. Crowdz is focused on expanding the dollar amount of receivables financed from $50 million to $1 billion over the next year. We have several exciting product releases along the way, including 1) a marketplace for tokenized receivables, 2) the ability to launch white labels in less than an hour, and 3) expansion into Australia.

See the Citi press release here.

Click here to schedule a demo.


Relevant Reading

JPMorgan Chase & Co. – Shareholder Letter
We find JPMorgan Chairman and CEO Jamie Dimon’s annual letter to shareholders to be thoughtful, insightful, and informative on the state of finance, banking, and the global economy. Access the full letter here.

Venture Monitor – Q1 2022
PitchBook, in conjunction with the NVCA, has released is latest quarterly update on the state of US venture investment activity. Access the full report here.

In the News

Flume Data Labs Launches
Flume formally launched a new business unit, Flume Data Labs. The new unit will expand its current enterprise business, providing real-time expert analysis of residential water use across the United States to water providers, brands, insurers, and state and regional planning agencies. Read more here and at the Flume Data Labs website.

HALO Connect 2.0 Launches
Aperia recently launched Halo Connect 2.0, the latest evolution in the company’s comprehensive tire management platform. Halo Connect is the only active tire management platform for all wheel positions, and the platform now includes key modules to help fleets optimize decision-making and cost across the tire lifecycle. Read more here.

Al Pacha:
Related Post