Anchor, an autonomous U.S. billing platform, has finished a $15-million seed-funding round to expand its team and extend partnerships with more clients.
The round was led by South African businessman Martin Moshal’s Entree Capital and Rapyd Ventures, the venture capital subsidiary of the UK-based fintech company, Rapyd.
Led by U.S. technopreneurs Rom Lakritz, Omry Man and Leeor Aharaon, Anchor connects businesses and their clients through a “live online agreement” that serves as a single source of truth.
Its end-to-end billing and payments solution helps manage invoicing, payment and reconciliation. The automation process frees businesses, allowing them to focus on doing billable work instead of the time-consuming and costly manual work involved in getting paid on time.
Anchor Co-Founder and CEO Rom Lakritz explained that the $15-million seed-funding round marks the beginning of the next payment revolution, which will make existing B2B payment processes obsolete as fintech companies redefine what billing, collections and payments look like in the modern world.
He noted that if people can trust the invoices they receive from service providers in the same way as they trust machine-generated invoices from Spotify and Amazon, billing and payments will be seamless and cash will easily flow into a market estimated at more than $120 trillion annually.
Avi Eyal, who co-founded Entree Capital with Moshal, explained that the B2B payments space is highly fragmented, and Anchor has found an opportunity to drive the deployment of solutions to thousands of service-oriented businesses.
Moshal has been a serial entrepreneur in the software industry for more than 20 years, building and exiting several startups.
Aside from his success as a businessman and venture capital investor, he is a philanthropist who believes in giving back to society and developing human capital in the continent.
He founded the Moshal Scholarship Program in 2009, with the core aim to enable determined and resilient students from challenging backgrounds to obtain sought-after university degrees, soft skills and values that lead to successful and fulfilling professional careers and lives.
