Crowdz Bags Over $2M in Series A+ Round of Financing

The company plans to use the proceeds to bolster its product roadmap and launch globally, with the UK in its immediate sights.

Fremont, CA: Crowdz, a Campbell, CA-based invoice financing marketplace, secured a $2m Series A+ funding round.

The round wss led by Bold Capital Partners, with active participation from Augment Ventures and TFX Capital. The company has raised to date $9.1M in funding, building on $6.1m led by Barclays bank & Bold last year.

The company plans to use the proceeds to bolster its product roadmap and launch globally, with the UK in its immediate sights.

Led by CEO and founder Payson Johnston, Crowdz offers a financing marketplace for businesses to sell unpaid invoices to investors in exchange for cash.

The company’s product roadmap would be tailored towards supporting SME growth and delivering value to the investors and enterprise, with new offerings. This would include Crowdz’s proprietary SMART Score, a real-time risk assessment, with many inputs such as Edward Altman’s famed Z-Score and Probability of Default, and ESG (Environmental, Social, and Governance) reputational risk. The product is expected to be available in 2021 as a standalone offering to enable funders, banks, and enterprises to track the risk of buying receivables and monitor real-time risk in supply chains.

The company is further extending its offering to support alternative revenue streams, including its whitelabel offering – Supply Chain Finance as a Service (SCFaaS). Crowdz would also continue to grow its in-house finance facility, which it introduced during the pandemic to make a return on invoices within its marketplace, by fully funding, or part-funding alongside other investors on the platform.