What is Now?
Founded in 2010, Now operates at the intersection of financial technology and enterprise operations. The company provides a specialized payment system, the NOWaccount, which effectively eliminates the traditional waiting period associated with B2B invoicing. By enabling businesses to receive payment immediately upon the delivery of goods or services, Now serves as a vital bridge for companies managing complex supply chain finance requirements.
The firm's market position is defined by its ability to mitigate credit risk while providing immediate liquidity. Unlike traditional factoring services, the Now platform is engineered to integrate seamlessly into existing business workflows, offering a frictionless experience that enhances operational efficiency for its diverse client base.
How much funding has Now raised?
Now has raised a total of $34.9M across 3 funding rounds:
Debt
$350K
Share Placement
$5.6M
Debt
$29M
Debt (2020): $350K with participation from PPP
Share Placement (2020): $5.6M led by Velarde Inc.
Debt (2021): $29M supported by Virgo Investment Group and Brigade Capital Management
Key Investors in Now
Virgo Investment Group
A private investment firm focused on opportunistic credit and equity investments in middle-market companies.
Brigade Capital Management
An investment management firm specializing in credit-focused strategies and distressed debt opportunities.
Velarde Inc.
A strategic investment entity providing capital and operational support to high-growth technology ventures.
What's next for Now?
With the infusion of major enterprise-level capital, Now is well-positioned to scale its infrastructure and expand its market reach. The strategic focus will likely shift toward enhancing the technological capabilities of the NOWaccount platform and deepening its penetration within key industry verticals. As the company matures, the emphasis will remain on maintaining its competitive edge in the payment acceleration space while navigating the complexities of large-scale financial operations.
Future growth will be predicated on the firm's ability to maintain its high-velocity payment model while scaling its risk management frameworks. By leveraging its recent capital influx, Now is prepared to solidify its status as a leader in the B2B payment ecosystem, providing essential financial agility to businesses navigating the challenges of modern commerce.
