In an announcement, short term finance innovator for small businesses Zazma had said it raised USD10 million in financing venture equity from Sequoia and Spark Capital. The new round of capital infusion would support the firm's financial expansion in the market.
Back in 2011, Zazma started off its business using seed investment from Sequoia Capital. Its operations provided businesses credit resources with flexible repayment terms in order for businesses to pay their suppliers. This niche was found after both traditional financial companies as well as individual suppliers do not provide trade credit for a small business. To bridge this gap, Zazma provides a payment solution that gives business to business suppliers a means to incrase sales through trade credit given to small business clients.
According to Zazma Co-Founder and CEO Benjy Feinberg, "The financial markets are inefficient and the traditional modes of financing are needlessly arduous and time consuming. Internet and big data analytics are changing the financial world and Zazma is bringing this change to purchase financing by adding value to both small businesses and their supplirs through online, instantaneous approvals as well as full payment guarantees at fair prices. We're thrilled to be joined by two exceptional VCs like Sequoia and Spark for this new round of funding that will enable us to expand our team and services and provide more small businesses with the capiutal they need in order to thrive,"
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