Nvoicepay Raises $6M to Focus On Channel Expansion

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Financing Round Led by Mosaik Partners with Participation From Silicon Valley Bank

Nvoicepay -- Automating accounts payable with 100% electronic vendor payments

“Nvoicepay is bringing to enterprise the kind of simple, easy-to-use and frictionless payment solutions that consumers have come to appreciate,” said Karla Friede, CEO of Nvoicepay.

Nvoicepay Inc. today announced it has secured a $6 million financing round, led by Mosaik Partners with participation from Silicon Valley Bank, and existing investors. Nvoicepay’s strategic payment solutions automate accounts payable, enabling customers to pay 100% of their invoices electronically, while realizing the financial benefits of payment optimization.

“Nvoicepay is bringing to enterprise the kind of simple, easy-to-use and frictionless payment solutions that consumers have come to appreciate,” said Karla Friede, CEO of Nvoicepay. “This financing further validates our direction transforming accounts payable and we will use this capital to continue our channel expansion.”

By paying the right suppliers with the right payment type at the right time, Nvoicepay’s cloud based technology and supplier payment services help customers reduce costs, increase efficiencies and maximize rebates all with minimal effort.

“Nvoicepay is bringing accounts payable into the 21st century with strategic payment solutions,” said Miles Kilburn, partner at Mosaik. “Nvoicepay’s innovative use of cloud technology, unique and market-driven approach to supplier payment services make the company a clear choice for Mosaik. We’re excited to help further fuel Nvoicepay’s exceptional growth and leadership in the B2B payments market.”

Nvoicepay partners with thousands of enterprises across multiple industries to process billions of dollars in B2B payments each year.

About Nvoicepay

Nvoicepay delivers strategic payments solutions to automate accounts payable, enabling customers to pay 100 percent of their invoices electronically, while realizing the financial benefits of payment optimization.

Nvoicepay’s cloud based products and vendor payment services reduce costs, increase efficiencies and maximize rebates, all with minimal effort. Nvoicepay serves thousands of customers paying hundreds of thousands of suppliers across multiple industries including healthcare, retail and financial services. More information about Nvoicepay is available at http://www.Nvoicepay.com.

About Mosaik Partners

Mosaik Partners, located in San Francisco, CA, provides entrepreneurs the capital, resources and guidance necessary to execute on innovative commerce enabling products at the critical expansion stage – driving growth, profitability and scale for their businesses.
With over four decades of combined industry experience investing in, operating and advising early- to late-stage commerce enabling technology companies, our partners offer entrepreneurs deep domain expertise and unique access to potential customers and strategic partners. We focus on pioneering companies that are executing evolving commerce business strategies in a dynamic regulatory and technology environment. To reach Mosaik Partners go to http://www.mosaikpartners.com or call 415.717.3354.

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Heather Racicot
Nvoicepay
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since: 07/2012
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