According to an article, FLUID, a Singapore-based startup enabling business-to-business purchase financing, has raised US$5.2 million in Series A funding led by early-stage investor Insignia Ventures Partners.

Following the round, Fluid seeks to expand its product capabilities and onboard bigger suppliers across industries, it said on Tuesday (Feb 27). Total funding for the startup has now reached US$7 million together with US$1.8 million raised in a seed round from Iterative and New Stack Ventures.

It will also use the new investment to expand its risk and engineering teams.

Fluid was founded in early 2023 by former regional general manager at Atome and general manager at Uber Trasy Lou Walsh; former head of product at Coupang Pay and Atome Steven Li; and former head of Asia at Lendable Ruoyun Yang. It focuses on streamlining B2B payments with a platform that allows suppliers to take on buyers with credit terms while enabling buyers’ access to purchase financing. 

Insignia Ventures’ founding managing partner Yinglan Tan noted that B2B payments remain a common challenge for many businesses regardless of industries or growth stages. 

“Fluid is the first to tackle this challenge with a truly customer-centric approach, levelling up the payment experience for both suppliers and buyers with flexible integrations, proprietary credit risk management, and instant settlement,” said Tan.