Routable, a U.S.-based fintech startup, announced on Thursday it raised $30 million through its Series B investment round, which was led by Sam Altman, CEO of Open AI and former president of Y Combinator, and Jack Altman, CEO of Lattice, with participation from Flexport as well as angel investors, including Max Mullen (Instacart), Joe Gebbia (Airbnb), Aaron Levie (Box), Marc Benioff (TIME Ventures), Gokul Rajaram (DoorDash), Lachy Groom (formerly of Stripe), Scott Belsky (Founder of Behance), Nick Mehta (Gainsight), and Wade Foster (Zapier), The Series B comes just a little over six months after Routable raised $12 million through its Series A funding round.
As previously reported, Routable claims to be the simplest way to send and receive business-to-business (B2B) payments. The startup stated its secure payments solution helps Accounts Payable/Accounts Receivable team automate bill-pay and invoicing, find errors, request authorization from supervisors, and streamline cash flow.
“We started Routable due to our experience scaling B2B payments with the mission to give companies visibility into their financial data, and reduce their time spent chasing payments.”
Routable further revealed that since its last funding announcement, its team delivered on our promise of building the best ERP integration, launching a seamless two-way sync with Oracle NetSuite. In regards to its future plans, Routable added:
“We’re now excited to triple the size of our team and deliver on our mission to remove the burden of the bill payment and invoicing processes by building features to help automate as much of the Accounts Payable process for finance, operations, and engineering teams.”