Previse, the AI fintech that enables suppliers to get paid instantly, has joined forces with global e-invoicing firm, Pagero to enable instant, embedded finance via its open business network.
Under the alliance, Pagero will rollout Previse’s early payment capabilities to its customers.
This includes the introduction of a ‘pay me now’ button for the suppliers on the Pagero network as soon as they generate an invoice.
Previse’s InstantPay platform is said to employ an artificial intelligence trained on billions of pounds worth of invoice data.
After making a smart assessment of whether invoices will be paid, the platform unlocks bank capital to pay suppliers, instantly.
Pagero’s platform digitises document flow between buyer and supplier and is designed to offer a ready set of data points upon which InstantPay operates.
Previse sales director Steve Dempsey said: “It is time to bring embedded finance technology into the B2B space and give suppliers control over how they get paid.
“Pagero is an industry leader in end-to-end supply chain management and its P2P platform is second to none. We are excited to work with Pagero to embed the next generation of early payment solutions into its platform.”
Pagero Western Europe managing director Matt Hammond added: “Previse’s embedded finance solution is unique, and we are excited to bring this technology to our customers. We look forward to collaborating with Previse to offer truly flexible supply chain management for all of our suppliers.”
Previse, which was founded in 2016, is backed by Augmentum, Bessemer Venture Partners, and Hambro Perks among others.
Last year, American Express joined forces with SAP Concur, a software-as-a-service (SaaS) company, for automating invoicing and expense management processes for its business clients.