40Seas, a leading platform for financing, managing, and automating B2B payments globally, has launched its comprehensive Global Accounts Receivable solution to streamline credit, risk, and invoice management. The platform centralizes invoice data into a user-friendly dashboard, enabling companies to track payment statuses, manage due dates, and expedite invoice approvals, thus mitigating payment delays.

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By integrating with ERP or accounting software, companies can enjoy a streamlined reconciliation process that matches invoices with purchase orders and delivery receipts in real-time. The platform facilitates payments via credit card, direct debit, or digital wire transfers in various currencies worldwide. Additionally, it allows companies to offer extended payment terms of up to 90 days without assuming any credit risk, enabling them to focus on driving sales rather than debt collection.

Available as an API or stand-alone platform, 40Seas can be seamlessly embedded into checkout portals to improve business flow and customer convenience. According to Gartner, expenditure on accounts-focused automation and supplier e-invoicing software is set to reach up to $1.75 billion by 2026, highlighting the growing need for standardized invoicing practices across industries and regions.

The launch of the 40Seas Accounts Receivable platform follows the company’s substantial growth over the past 18 months, including a $111 million funding raise in January 2023. This funding comprised a $100 million credit facility from global shipping giant ZIM and a $6 million seed extension, with new strategic investors coming on board.

Dozens of companies worldwide are already using the 40Seas AR platform, including e-commerce fulfillment platform Portless, mobile phone accessories brand APLONG, Chinese sourcing agent Jingsourcing, and global e-Bike brand Himiway.

Eyal Moldovan, Co-founder and CEO of 40Seas, said, “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, added, “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 enables suppliers to receive immediate payment upon shipment, helping them jump-start their next production cycle. It also provides buyers with deferred payment options, allowing them to grow their business without tying up available lines of credit. Leveraging data-driven technology, 40Seas can scalably verify creditworthiness, assess risk, and process financing more efficiently than traditional banks, making it faster, cheaper, and easier for SMEs to access working capital.

Headquartered in New York with offices in Shenzhen, Toronto, and Tel Aviv, 40Seas was founded by industry experts with over 60 years of combined experience in cross-border payments, logistics, and trade financing.