Zazma, a NYC-based platform for short term financing for small businesses, raised $10m in funding.
Backers included Sequoia Capital and Spark Capital.
The company intends to use the funds expand the team and services and provide more small businesses with the capital that they need.
Founded by Benjy Feinberg, CEO with a seed investment from Sequoia Capital in 2011, Zazma provides a payment solution that enables B2B suppliers to offer incremental trade credit to their (underserved) small business customers. Zazma instantly pays suppliers for the goods small businesses need to manage their day to day expenses, allowing them to get the inventory required to fulfill customer’s orders.
FinSMEs
03/09/2013