In this week’s roundup of news, Procore Technologies reaches unicorn status, Freshbooks adds Apple Pay as a new payment method for its small business users, and two European companies team up to create a short-term financing solution through their new Sage Clic&Cash platform.
Procore Technologies, a cloud-based project management tool for contractors, is now a unicorn, according to Forbes. The company reached a $1 billion valuation with a recent fundraise of $50 million, doubling its valuation from a year ago, the article said.
Procore’s platform enables construction teams to collaborate on projects, manage budgets and schedules, and track drawing revisions. It allows users to integrate the platform with other systems, such as document storage or accounting software, through its open API.
Accounting platform Freshbooks has added support for Apple Pay to its system. The Freshbooks platform is geared to self-employed professionals and small businesses. Users can now accept payment of their invoices using Apple Pay or major credit cards.
“In helping our users run their businesses, we want to help them get paid as quickly and easily as possible. Apple Pay is yet another way,” a Freshbooks spokesperson told PaymentFacilitator.com.
The company launched a completely redesigned platform in September that was intended in part to enable the company to add new features more quickly, the spokesperson said.
Freshbooks works with Stripe and WePay to process payments.
Sage and Finexkap have teamed up to offer short-term financing to users through the new Sage Clic&Cash platform, according to a press release. Sage is a U.K.-based accounting solutions provider, and Finexkap is a French cash flow management platform.
“Having credit trapped between businesses is a systemic problem which significantly changes the health of French businesses and the economy in general,” Claude Cordier, director of product marketing at Sage, said in the release. “We think that digital technologies will succeed in that area, where regulation has reached its limits: real-time analysis of data allows for a calculation of risk which is fairer and gives a boon to the availability of short-term financing at a competitive cost. The simplicity of using Sage Clic&Cash and its fast process of transferring funds has democratised access to this type of financing and resolves the problem of late payments.”
Users can request an advance against payment of future invoices directly from their Sage accounting software interface. The company claims it returns financing offers within 48 hours.