Balance Announces $56M Series B Round
NEW YORK, NY, Balance, the leader in B2B marketplace and eCommerce payments, today announced a $56 million Series B fundraise, bringing the company's total funding to $87 million.
The round was led by Forerunner Ventures with support from Salesforce Ventures, Hubspot Ventures, Lyra Ventures, and Gramercy Ventures. Notable leaders in B2B eCommerce also participated in the round as angel investors, including former Shopify CMO Jeff Wisener, Faire CTO & co-founder Marcelo Cortes, as well as previous investors Ribbit Capital, Lightspeed Ventures, Avid Ventures, Upwest and Jibe. Balance will use this funding to expand its offerings to new, global eCommerce platforms and enable B2B merchants to grow their digital revenue.
Founded in 2020 by PayPal alums Bar Geron and Yoni Shuster, Balance is the top B2B eCommerce payments company offering the first online checkout with omni-channel support built for businesses. With Balance, companies can process any payment method, offer flexible terms, and get paid instantly - all in one place. With offices in Tel Aviv and New York City, Balance has partnered with dozens of B2B marketplaces to shift traditionally offline industries like food, steel, chemicals and apparel to an eCommerce model that resembles B2C. Balance has over 300 merchants, marketplaces and customers combined, including notch, Everywhere Apparel, Bryzos, Felux, Vallourec and more, as well as partnerships with Shopify Plus, Fabric and Magento.
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