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This article was published on March 11, 2013

    Nipendo lands $8m from Horizons and others for its plug-and-play B2B trading platform

    Nipendo lands $8m from Horizons and others for its plug-and-play B2B trading platform Image by: Comstock
    Robin Wauters
    Story by

    Robin Wauters

    Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family a Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family and Belgian beer. If you'd like to know more about Robin, head on over to robinwauters.com or follow him on Twitter.

    Nipendo, which offers a cloud-based B2B integration platform that enables companies to connect and transact with their trading partners, has secured $8 million in Series B funding.

    The capital injection comes from Horizons Ventures, which manages the private tech investments of billionaire business magnate Li Ka-shing, and prior backer Magma Venture Partners.

    Gilad Novik, CTO of Horizons Ventures, has joined the company’s board.

    Organizations in the B2B sector across a wide variety of industries, including healthcare, high tech, banking and telecommunicaties often have to engage in long, costly integration processes in order to electronically trade with each other. Oftentimes, they also need to repeat the same processes with every new partner.

    Nipendo aims to solve those problems by providing organizations such as Pfizer, HP, IBM and Office Depot with a scalable, cloud-based trading partner network that removes the barriers to widespread deployment of electronic procurement and invoicing.

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    The company claims its plug-and-play solution enables rapid on-boarding of thousands of suppliers at a lower entry cost, and much quicker than using traditional processes.

    Nipendo says it will use the fresh cash to scale its social business network operations and expand to the United States – it recently opened its new HQ in Boston, Massachusetts.

    Image credit: Thinkstock