What is Now?
Founded in 2010 and headquartered in Atlanta, Georgia, Now operates within the financial technology sector, providing a critical service to businesses by enabling them to receive payments more rapidly. Its core offering, the NOWaccount payment system, addresses a key operational challenge for companies, streamlining the accounts receivable process. This focus positions Now as a vital player in the B2B payment ecosystem, facilitating smoother financial operations for its clientele.
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
Virgo Investment Group is an investment firm that likely focuses on providing capital solutions to businesses, potentially including debt financing as seen in this round.
Brigade Capital Management
Brigade Capital Management is an asset management firm that may engage in various forms of investment, including providing debt financing to companies.
Velarde Inc.
Velarde Inc. appears to be an entity involved in capital allocation, participating in share placements to support company growth.
What's next for Now?
The substantial enterprise-level funding, including the recent major strategic investment, indicates that Now is poised for significant expansion and further development of its payment solutions. This capital infusion will likely fuel advancements in its NOWaccount platform, potentially enhancing features, expanding market reach, and strengthening its competitive edge. The company's trajectory suggests a focus on scaling operations and solidifying its role as a leader in accelerating business payment cycles.
See full Now company page
