Apruve, a Minneapolis-based B2B credit automation platform, closed on $6m in its Series A financing.
The round was led by Cloud Apps Capital Partners with participation from TTV Capital and Allegis Capital.
The company intends to use the funds to grow its team, to serve current customers and expand its portfolio, and to drive research and development.
Led by Michael Noble, CEO and founder, Apruve is a B2B credit automation platform that manages and finances credit programs for suppliers and their business customers. The company focuses on eliminating accounts receivable from the balance sheet of B2B companies. Its credit automation platform allows organizations to extend payment terms to their customers without added back office costs, cash flow concerns, or financial risk.
Customers include like Texas Instrument and Boxed, among others.