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US fintechs Growfin and PTO Exchange secure seed funding

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US-based start-ups Growfin and PTO Exchange have raised $1.4 million and $5.4 million, respectively.

Growfin raises $1.4m

Software-as-a-Service (SaaS) fintech platform Growfin has raised $1.4 million in a seed round from 3one4 Capital and a group of angels.

It has also announced its global launch “to transform how finance functions in business-to-business (B2B) companies track and collect payments from their customers”. Its flagship offering, it claims, is “the world’s first finance CRM for enabling B2B payments”.

Founded in 2020 and based in Wilmington, Delaware, the company says it is “seeing strong product market signals”. Among its clients are Intercom, Whatfix, Darwinbox, Airmeet, Locus.sh, and MonetizeMore, and it plans to increase its customer base tenfold over the next year.

“Collecting payments in B2B companies involve not only finance but also other stakeholders like sales and customer success, all of whom end up capturing payment information in their own formats and systems. This creates vacuums of information and countless workflow layers…

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