By Edlyn Cardoza
- B2B payments experience company
Balance, the leading B2B payment experience company offering the first online payment designed for businesses, announced a partnership to integrate its payment solutions with Mirakl, the leading enterprise marketplace platform. B2B marketplace sales grew 131% to $56.5 billion in 2021, making it the fastest growing e-commerce channel in the world. Partnering with Balance will allow Mirakl to offer a seamless solution payment experience for its B2B customers while keeping operating costs to a minimum, making it easier to trade via e-commerce for marketplaces.
Mirakl is the first and most advanced marketplace SaaS platform offering API-based solutions that enable brands and retailers to grow their enterprise marketplaces at scale. Founded in 2012, Mirakl provides advanced functionality for B2B and B2C businesses, including automated and self-service seller onboarding, 3P catalog ingestion/harmonization, automatic seller quality and financial flow management advances. With Mirakl, operators can easily scale to thousands of sellers and take advantage of features made available for different types of business models.
“At Balance, our mission is to fully digitize B2B commerce by bringing business payments online, and our partnership with Mirakl will allow us to serve more B2B markets than ever before,” said Bar Geron, CEO and co-founder of Balance. “We are very happy to work with the Mirakl team and provide the best possible B2B payment experience to their customers.”
This partnership will provide Mirakl customers with a range of payment solutions, including clear terms, flexibility of payment methods and fully reconciled instant payments to suppliers, relieving B2B marketplaces of the logistical and financial stress of traditional offline methods. By joining forces with Balance, Mirakl can expand its business offerings and help marketplace sellers meet their customers’ demands.
According Digital Commerce 360 According to the 2022 B2B Marketplace Growth and Trends Report, the number of marketplaces tracked by the company quadrupled from 100 to over 400 in just three years. The partnership with Balance will enable Mirakl customers to operate using fully automated customer accounts, risk-free funding, and API-integrated solutions. Users can also take advantage of any payment method and pay for orders using net payment terms customized for their specific business needs.
Balance has helped hundreds of merchants and B2B marketplaces bring archaic industries like steel, timber, and apparel online. The company recently announced a $56 million Series B led by Forerunner Ventures in July 2022, bringing total funding to $86 million. Balance currently has 60 employees with offices in Tel Aviv and New York.
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