BlueBean, a Boston, MA-based provider of a procure to pay solution, raised $1.3M in funding.
The round was led by Tola Capital.
The company intends to use the funds to invest in product development and support resources.
Led by Fabrice Saporito, CEO, BlueBean offers a solution that helps businesses manage their expenses. It targets companies without procurement organizations to help them increase profits by decreasing purchasing costs. Its discount codes and negotiated prices on 20+ purchase categories and thousands of products and services give a head start to any organization that does not have an in-house procurement team, while empowering them to make purchases that are within their rule set, without delaying the process with extra steps or people.
Businesses can sign up for BlueBean’s all-in-one procure to pay solution now to reduce costs and increase profitability with:
- Extensive savings – Access discounted prices through coupon codes at check outs or from partner’s websites
- Control spending – Set own rules and empower team to buy what your business allows, without delay, and within the budget
- Secure payment – Minimize risk by automatically issuing a secure virtual card for every approved online purchase transaction
- Real time visibility – Track every dollar spent, monitor how much saved and whether to approve off spend limit purchase requests
- Low maintenance accounting – Map payment metadata to expense accounts and get all transactions automatically allocated for easy month-end closings
Commenting on the news, Fabrice Saporito said: “We’re excited to have Tola on board with its expertise and commitment to our shared vision of a transformational product experience that delivers discount pricing and cost savings directly to businesses.”
FinSMEs
28/02/2024