Today in B2B: Payhawk Earns Bulgarian Unicorn Honors; ProducePay Pushes for Efficiency in Produce

Today in B2B payments, ICZoom is planning an initial public offering in the U.S., and Medius partners with Nomentia to extend global payment capabilities. Plus, ProducePay looking to add certainty to produce industry, and Payhawk becomes the first Bulgarian unicorn.

Medius Extends Global Payment Capabilities With Nomentia Partnership

Spend management and eProcurement software company Medius has teamed up with cash and treasury management company Nomentia, according to a Tuesday (March 1) press release.

The Nomentia partnership allows Medius’ Nordic customers to react quickly to in-market developments, such as the P27 initiative, which aims to establish a single pan-Nordic payment infrastructure for the 27 million people in the region.

Payhawk Becomes Bulgaria’s First Unicorn After $100M Round

Payments and expense platform Payhawk raised an additional $100 million at a valuation of $1 billion, in an extended Series B funding round led by Lightspeed Venture Partners, making the startup Bulgaria’s first unicorn — a private company that’s valued at $1 billion or more.

New investors Sprints Capital, Endeavor Catalyst, HubSpot Ventures and Jigsaw VC and existing backers Greenoaks, QED Partners and Earlybird Digital East also participated in the round.

Chinese B2B eCommerce Firm ICZoom Plans IPO

Chinese B2B eCommerce platform ICZoom has filed to raise about $22 million through an initial public offering in the U.S., according to a Seeking Alpha report Tuesday (March 1).

ICZoom plans to offer 4.4 million shares at $5 to $6 per share. Its IPO could generate net proceeds of $22.6 million, assuming a price of $5.70 per share. The company plans to list its shares on Nasdaq trading under the symbol IZM.

FinTech Takes Fresh Approach To Financing The Buying and Selling of Perishable Produce

ProducePay has been working for seven years to add certainty and efficiency to different parts of the ever-fickle produce industry. The company provides trade protection, capital and market insights for members of the produce supply chain and added a financing service for growers on Feb. 18.

ProducePay gives growers up to 96% of their shipment’s value 24 hours after it is received by the buyer. The company manages more than $2 billion in transactions every year, so it can diversify risk and underwrite trades.