The funds will be used to develop the project team.
American fintech startup Ampla Technologies has received $40 million in a series A funding round.
The round was led by investment firms MG Partners and Forerunner Ventures. The existing sponsor Core Innovation Capital also took part in it.
In October, the startup raised $250 million in debt financing from investment firm Atalaya Capital. As a result of the two rounds, the total amount raised was $330 million, TechCrunch reports.
- The Ampla platform was launched in 2019 with the aim of helping small and medium-sized e-commerce businesses finance purchases. The uniqueness of Ampla is that a startup opens a line of credit even without any information about the income of the borrowing company. Ampla’s underwriting technology takes into account all of the company’s revenue channels, the startup says.
This startup service is used by more than 200 clients, including Parttake Foods, Bev, Good Planet Foods, and Serenity Kids. Monthly transaction volume over the past year has grown by more than 300%, the portal reports with reference to Ampla’s management. During the same period, the startup team quadrupled to 40 people. The funds raised will be used to further develop the Ampla team.
In 2021, Americans will spend an estimated $933 billion on online purchases, according to the eMarketer portal. This is 17.9% more than last year. The global e-commerce market is expected to reach $4.89 trillion this year, according to InsiderIntelligence. According to company analysts, by 2024 this figure will grow to $6.388 trillion.
Read also: India’s b2b platform OfBusiness received an estimated $5 billion in its fourth investment round for the year.