40Seas, a frontrunner in global B2B payment solutions, unveils its cutting-edge Global Accounts Receivable (AR) platform, set to transform credit, risk, and invoice management across international trade. This advanced solution consolidates invoice data within an intuitive dashboard, enabling enterprises to track payment statuses, manage due dates, and expedite invoice approvals, thereby reducing payment delays.
Seamless integration with ERP and accounting software ensures streamlined reconciliation, aligning invoices with purchase orders and delivery receipts in real-time. Supporting payments via credit card, direct debit, or digital wire transfers across multiple currencies, the platform enhances transactional flexibility. 40Seas also empowers businesses to offer extended payment terms of up to 90 days, alleviating credit risk concerns and enabling a sharper focus on sales growth.
Offered as both an API and a stand-alone platform, 40Seas embeds seamlessly into checkout portals, enhancing business flow and customer convenience. Gartner forecasts a surge in accounts-focused automation and supplier e-invoicing software spending, reaching $1.75 billion by 2026, reflecting a growing need for standardized invoicing practices industry-wide.
This launch follows a period of major expansion for 40Seas, highlighted by a $111 million funding round in January 2023. This included a $100 million credit facility from global shipping giant ZIM and a $6 million seed extension, drawing new strategic investors.
Already, several global companies, such as e-commerce fulfillment platform Portless, mobile phone accessories brand APLONG, Chinese sourcing agent Jingsourcing, and global e-bike brand Himiway, leverage the 40Seas AR platform to optimize operations.
Eyal Moldovan, Co-founder and CEO of 40Seas asserts, “The launch of our Global Accounts Receivable platform is the latest step in our mission to digitize and streamline key steps in B2B global trade. For too long, error-prone, manual AR processes have undermined productivity for enterprises across the industry spectrum. In today’s increasingly congested supply chain landscape, improving cash flow management through automation is an absolute prerequisite for longevity. Our real-time tracking enables companies to easily monitor invoice statuses, identify bottlenecks, optimize workflows, and drive business growth.”
Jonathan Frankel, COO of Portless, adds, “This partnership will not only reduce our support overhead and enhance our customer success, but it will also be a game-changer for our customers. Imagine running an e-commerce business with cash no longer being a constraint. Manufacture, sell, and fulfill directly to customers before needing to lay out a cent. This partnership with 40Seas fundamentally changes the economics of e-commerce.”
40Seas’ flagship B2B Order Now, Pay Later solution ensures immediate payment to suppliers upon shipment, facilitating the start of the next production cycle. Deferred payment options for buyers support business growth without tying up credit lines. Leveraging data-driven technology, 40Seas efficiently verifies creditworthiness, assesses risk, and processes financing, providing SMEs with faster, cheaper, and easier access to working capital than traditional banks.
With headquarters in New York and offices in Shenzhen, Toronto, and Tel Aviv, 40Seas, founded by industry experts with over 60 years of combined experience in cross-border payments, logistics, and trade financing, stands committed to enhancing global trade through innovative financial solutions.
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