HomeUSAThe Receivables Exchange Closes $17 Million Series C Financing

The Receivables Exchange Closes $17 Million Series C Financing

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The Receivables Exchange, LLC, a New Orleans, LA-based online marketplace for real-time trading of accounts receivable, has closed $17m in Series C financing.
The round was led by Bain Capital Ventures, with additional commitments from existing investors Redpoint Ventures and Prism Ventureworks.
The company will use the funding to further scale its operations and sales activities and to significantly expand its marketing, business development and corporate partnership efforts. In addition, the Exchange will continue to evolve its patent-pending trading platform and optimize customer lifetime value.
The Receivables Exchange’s trading platform connects buyers and sellers in a real-time auction marketplace to buy and sell receivables.
By selling their receivables in an open and competitive marketplace, sellers are able to reduce their cash conversion cycles, gain access to competitively priced capital and reinvest that cash into growing their business.
Buyers gain access to a new investable asset class with attractive risk-adjusted returns and the opportunity to invest in the growth of the nation’s thriving small and midsize businesses.
FinSMEs
27/01/2010

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