Marmalade raise $16 Million funds to improve its services
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Imagine Marmalade as a helpful friend for small and medium businesses. When these businesses need money from their customers, Marmalade steps in to make sure they get paid quickly.
Recently, Marmalade received $16 million to improve its services and attract more customers.
Think of Luke, David, and Richard as the founders of Marmalade. They got together in 2019 and created this company to assist other businesses.
When a business sends an invoice (like a bill) to someone, Marmalade ensures that the business gets paid promptly. This helps the business have enough money to cover its expenses.
Over the last four years, Marmalade has received a total of more than $32 million in funding or investment.
Recently, Marmalade received additional money. Most of it came from a company called Blue Stamp Company, but other investors (like Paloma Capital and some families) also contributed.
Marmalade collaborates with online accounting tools (like Xero, Quickbooks, and MYOB). Businesses use Marmalade's platform to handle money transactions, and a whopping $500 million flows through it annually.
Marmalade's technology platform was developed in partnership with an Australian company called Paloma. They launched their first product together in October 2020. Some skilled folks from Paloma's tech team now contribute to making Marmalade's technology even better.