Launched this year, Anchor is keen on solving the problems in billing, collection and payment by automating invoicing and remittance tasks — saving businesses the precious time spent prompting clients to settle payments. The startup’s cloud-based system automates end-to-end billing and payment processes for service providers, a process that also eliminates the issue of late payments.

Anchor announced today that it is now planning to accelerate its growth by expanding its team, partnering with more clients and launching a marketing drive after landing $15 million in seed funding.

The funding round was co-led by Rapyd Ventures, the new venture capital arm of Rapyd; Entrée Capital, a venture capital firm that has invested in multiple companies including and Riskified; and Tal Ventures, an Israel-based VC with a portfolio of more than 30 companies, including Rapyd.

“We knew immediately that Anchor was a company in which we wanted to invest,” Rapyd CEO Arik Shtilman said. “It has its finger on the pulse of the future of payments and has built a modern framework for B2B payments and billing, poised to become necessary for every business.”

Read the full article