Routable, a San Francisco, CA and Seattle, WA-based platform to send and receive business-to-business payments, came out of stealth mode with $16m.
The round included $12m in Series A funding from Y Combinator, Founders Co-Op, Lee Fixel, Box Group, as well as Liquid 2 Ventures, Jason Gardner, Gokul Rajaram, Aaron Schildkrout, Sam Hodges, Immad Akhund, and others.
The company intends to use the funds to invest in hiring and scaling their product for customers.
Led by CEO Omri Mor and CTO Tom Harel, CTO, Routable offers accounts payable, simplifying the payables process from receipt to settlement. For payables, the platform enables professionals to import bills any way they want. They can email, scan, and upload bills to process one or thousands of payments and leverage the API for bulk processing. The system automatically routes invoices, collects revenue, and updates payment records. The platform connects to accounting software to make sending invoices quick. Routable is currently working with customers including Garmentory, Re/Max, and Snackpass.