Highbeam Partners with TriplePoint to Provide Credit to E-commerce Businesses
Highbeam, a startup that provides banking features, credit and cash flow insights to e-commerce customers, today announced that it raised $10 million from TriplePoint as it looks to expand the reach of its digital product portfolio.
Co-founders Samir Shergill and Gautam Gupta 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.
“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 brand operators to manage cash flow in real time, access fair and transparent credit and grow profitably,” Shergill said.