The next generation of small business owners, freelancers and gig workers have grown up using platforms like Venmo and other instant payments, giving them some expectations when it comes to the payments experience.
“This new generation of workforce talent has grown accustomed to instant payment transfers in their personal lives, and now they want those same fee-free, fast services for their businesses,” Reed Switzer, CEO and co-founder of Hopscotch, told PYMNTS.
Hopscotch is a startup that aims to meet that need by facilitating instant, fee-free business-to-business (B2B) payments for small businesses and startups. On Tuesday (March 8), the company announced the launch of its private beta in tandem with a $6.1 million seed extension that brings its total funding to $9.95 million.
Reducing Friction in B2B Payments
Switzer said the need for services like Hopscotch has been increased by the pandemic, which has led to a lot of businesses being cash-strapped while also forcing them…
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