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Previse raises $18m from Tencent and Augmentum
News first broke that Tencent was backing Previse’s Series B funding round in April but since then the size of the pot has nearly doubled.
Previse has closed its Series B funding round with an $18m haul.
The round was led by Tencent, with participation from existing investors including Reefknot Investments and Augmentum Fintech.
In late April the news first broke of Tencent’s investment into the company, since then the size of the round has nearly doubled.
Previse provides working capital to SMEs around the world, something that owing to the ongoing inflationary pressures and supply chain disruption is becoming a more acute need for companies.
The company says it mines ‘B2B network data’ with an artificial intelligence-powered platform to predict future revenues and price risk.
“We’re delighted to have completed this first phase of our Series B round, which will allow us to accelerate the adoption of our working capital finance solutions. To have Tencent lead our round is a great endorsement of our model and the opportunity we are addressing,” said Paul Christensen, co-founder and CEO of Previse.