Highbeam, a startup that provides banking features, credit and cash flow insights to e-commerce customers, today announced that it raised $10 million in debt from TriplePoint as it looks to expand the reach of its digital product portfolio.
Co-founders Samir Shergill (previously at Microsoft, McKinsey and AppNexus) and Gautam Gupta (formerly of Shopify, Venmo and Alloy) spent years working with e-commerce firms to help them scale. Together, they arrived at the conclusion that while online brands have been built to maximize revenue growth, aided by a surge in tech and marketing solutions, e-commerce is inherently capital-intensive and low-margin. The missing link to building a sustainable business, they believed, was effective cash management and responsible credit utilization.
“Having seen firsthand the frustration dealing with legacy banks, accounting firms and predatory cash advances, we decided to build a banking platform for e-commerce that allows b...
