The expansion of traditionally consumer-focused FinTechs widening their solution scope to include B2B payments tools exemplifies just how massive the opportunity is for service providers to tackle friction.
Around the world, B2B transfers are expected to reach a $218 trillion valuation in the next three years alone. And with the ability for even the smallest of businesses to step into an international market, and to both source and procure from business partners around the world, the expansion of cross-border B2B transaction volume is only slated to accelerate.
The magnitude of the market is attractive even to B2C FinTechs, though the industry has quickly understood that B2B problems cannot be addressed with tools and technologies designed for consumer. And indeed, some businesses in need of cross-border payment solutions have been forced to revert to those B2C solutions, with lackluster results.
SatoshiPay, a FinTech based in London and Berlin, launched in 2014 with the intention of solving micro consumer payments friction. But with recent investment by Blue Star Capital, the company is expanding into the B2B realm to address cross-border corporate payments hurdles.