MakersHub: Revolutionizing AP Automation with QED's Backing
Deal News | Dec 03, 2024 | QED Investors LLC
MakersHub, an accounts payables automation platform, is making waves in the business-to-business payment space by solving inefficiencies in traditional payment methods dominated by paper checks. QED Investors has co-led a $7 million seed extension round for MakersHub, alongside TTV Capital, bringing the total capital raised to $11.5 million. The startup, founded by Phong Ngo and Charley Howe, offers a comprehensive AP solution that captures detailed invoice data and streamlines approval and reconciliation workflows. Their proprietary WiseVision technology allows businesses to eliminate manual data entry, offering significant control and visibility over cash flows. MakersHub caters to high-volume industries like construction, logistics, and manufacturing. With Bill.com barely scratching the surface of the AP automation market, MakersHub's offering could significantly impact businesses needing sophisticated solutions. QED's involvement highlights the platform's potential, positioning it as a vital tool in modernizing business payment processing.
Sectors
- Financial Technology
- Business Services
Geography
- United States – The investment and operations described in the article are primarily based in the United States, where the demand for AP automation solutions is significant.
Industry
- Financial Technology – The article is centered around MakersHub, which provides an AP automation platform—a quintessential financial technology solution enhancing payment processes for businesses.
- Business Services – MakersHub serves industries like construction, logistics, manufacturing, and restaurants, providing essential services to businesses needing efficient account payable solutions.
Financials
- 7 million USD – Seed extension round co-led by QED Investors and TTV Capital for MakersHub.
- 11.5 million USD – Total capital raised by MakersHub following the latest funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| MakersHub | Target Company | Company | A company providing full-suite accounts payables automation platforms with cutting-edge technology for businesses with high volume and complexity in payables. |
| QED Investors LLC | Investor | Company | A private equity firm co-leading the seed extension round for MakersHub, reflecting their strategic interest in disruptive fintech solutions. |
| TTV Capital | Co-Investor | Company | A venture capital firm investing alongside QED Investors in the seed extension round for MakersHub. |
| Phong Ngo | Co-Founder | Person | Co-Founder of MakersHub, with extensive product and domain expertise to tackle accounts payable automation. |
| Charley Howe | Co-Founder | Person | Co-Founder of MakersHub, brings a robust financial services background essential for leading a platform centered around payments. |