OatFi Raises $8M in Seed Funding

fintech

OatFi, a New York-based company that provides working capital infrastructure for B2B payments platforms, raised $8m in Seed funding.

The round, which brings the total funding to $11.25m, was led by QED Investors with participation from Portage Ventures, Picus Capital, Cambrian Ventures, Fin VC, Dash Fund, Lorimer Ventures, and Ziv Paz.

Additionally, OatFi has raised a $50m credit facility from Architect Capital.

The company intends to use the funds to accelerate growth and expand operations.

Founded by Mike Barbosa and John Jordan in 2021, OatFi provides the end-to-end infrastructure for B2B payment platforms to launch embedded working capital tools such as buy now pay later (BNPL) or various receivables financing products. Through OatFi, platforms can configure their own UX that embeds within their existing platform by essentially building their own ‘BNPL’ or receivables financing solution, without launching a credit business.

It integrates with bill pay and invoicing, payments infrastructure and spend management platforms to enable the launch of cashflow tools.

FinSMEs

11/10/2022