The company, which develops a platform designed to help companies better keep track of their payments data, aims to use its funding to onboard and support to further develop its platform. start-up Nilus on Thursday announced the closing of an $8.6M seed funding round led by Bessemer Venture Partners, with support from Better Tomorrow Ventures, Symbol, and private investors.
The company, which develops a platform designed to help companies better keep track of their payment data, aims to use its funding to onboard and support more US customers and to expand and further develop its platform. Despite the current wave of layoffs throughout the hi-tech and business sectors in Israel and around the world, many companies are still growing. As they do so, they face an increasingly robust amount of information that they need to keep track of, including the critical data related to their payments and transactions.
Nilus co-founder and CEO Daniel Kalish is a PayPal alum, having served as its former head of market development in Eastern Europe, Russia, and Israel. According to him, there are quite a few companies that have yet to implement an elegant solution to payment tracking.
“We have seen companies that move millions of dollars running on spreadsheets,” he said. “There is a real problem with payments data and finance teams are paying the price. Companies should be able to work with their data in one place and operate with complete control, visibility, and ease.”
