NetNow, a Toronto, Canada-based provider of a trade credit automation platform that automates the credit and collections process for wholesalers and distributors, raised $1.8M in Pre-Seed funding.
The round was led by Ripple Ventures, with participation from Centre Street Partners, Antler, Motivate Venture Capital, and Day One Ventures.
NetNow also secured a grant from Intuit for earning The Most Customer Obsessed company award.
The company intends to use the funds to accelerate AI product development to simplify documents, analyze data, and generate risk scores and metrics.
Founded by Nauman Hafeez, Eli Costea, and Soroush Arghavan, NetNow provides businesses across key industries including lumber and building materials, electrical wholesale, HVAC, heavy equipment, roofing, general wholesale and distribution and many more with a platform to manage trade credit applications digitally. Credit teams can offer digital forms to buyers (no more PDFs), issue trade and bank references automatically, create automated workflows for faster approvals, access key business data sources and much more.
FinSMEs
09/09/2024