The Singapore fintech enabling purchase financing for B2B payments brings total funding to $7M to accelerate hiring and regional expansion

Fluid founders L-R: CFO Ruoyun Yang, CPO Steven Li, CEO Trasy Lou Walsh

Fluid raises Series A from Insignia to modernize payments for B2B purchases

The Singapore fintech enabling purchase financing for B2B payments brings total funding to $7M to accelerate hiring and regional expansion

27 February 2024, Singapore –, a Singapore-based fintech enabling flexible B2B purchase financing, raises US$5.2M in an equity round led by Insignia Ventures Partners. With US$1.8M raised in a seed round from Iterative and New Stack Ventures, the company brings its total funding to US$7M. The company looks to expand its product capabilities with this round and onboard bigger suppliers across industries to its platform.

Fluid was founded in early 2023 by fintech and ecommerce leaders CEO Trasy Lou Walsh (former regional GM at Atome and GM at Uber), CPO Steven Li (former Head of Product at Coupang Pay and Atome), and CFO Ruoyun Yang (former Lendable Head of Asia and Investments at IFC). 

Over 70% of B2B payments involve deferred payment or credit terms. Because of the complexity and risk that comes with these types of payments, many suppliers find it difficult to accommodate buyer requests for credit. For suppliers, this locks out customers and limits growth. For buyers, this narrows down supplier options and lengthens procurement and payment processes. 

Fluid’s platform tackles both sides of the equation, allowing suppliers to take on buyers with credit terms while also enabling access to purchase financing for buyers. 

For suppliers, Fluid eliminates the uncertainties and hassle of account receivables collection by paying them instantly. For buyers, Fluid offers purchase financing to secure purchases on preferred credit terms or installments, as well as payment flexibility through seamless integration into any B2B marketplace or supplier websites, apps, or ordering systems. 

Invoice factoring has been a longstanding practice in B2B payments; however, many existing digital solutions exhibit cumbersome processes, demanding business buyers to navigate through extensive questionnaires and endure a multi-day approval ordeal. This approach is predominantly finance-centric, lacking a user-centric focus.

“The current system just doesn’t work. We have seen how difficult it can be for suppliers to manage cash flow around deferred payment terms and account receivables collection. Fluid empowers B2B businesses with flexible terms, introducing automated processes and instant underwriting through a zero-question approach. By using Fluid, suppliers enjoy a streamlined process where they no longer need to engage with debt providers, undergo credit checks for buyers, or hire a big team to do settlement and reconciliation. Fluid simplifies and consolidates the B2B transaction landscape, offering a hassle-free solution for suppliers seeking efficiency and ease in their operations.”  shares CEO Trasy.

Fluid’s customers have experienced an impressive 47% increase in Average Basket Size (ABS), 15% new buyers with an average of over 36% of the total Gross Merchandise Value (GMV) going through Fluid to date.

The company will use the new investment to further hire and expand its risk and engineering teams.

“As Fluid continues to grow, there are more types of B2B transactions we are looking to facilitate seamlessly on our platform through a variety of payment options and process automation. Our vision is to modernize B2B payment experiences with Fluid’s consumer-grade, trusted, and seamless experience for businesses,” adds Trasy. 

While B2B payments have been a long standing pain point and various technology solutions have emerged in the market, Fluid sets itself apart from the traditionally process-heavy payments experiences with a consumer-grade solution drawn from the product background of its founders. 

As Insignia Ventures founding managing partner Yinglan Tan adds, “B2B payments are a common challenge for many businesses, no matter the industry or stage of growth. Fluid is the first to tackle this challenge with a truly customer-centric approach, leveling up the payment experience for both suppliers and buyers with flexible integrations, proprietary credit risk management, and instant settlement. Trasy, Steven, and Ruoyun’s product leadership experiences with payments and lending fintechs have enabled them to build a solution that is intuitive and user-first in a sea of complex and cumbersome alternatives.”

Nate Pierotti, Principal at New Stack Ventures, adds, “Modern B2B payments is critical infrastructure to successfully transition business commerce online. We’ve seen similar business models scale fast and achieve success in the US and Europe, and we believe a similar model can achieve even greater success in SE Asia due to the region’s fragmentation. Trasy, Steven, and Ruoyun possess all of the characteristics to capitalize on this opportunity and we couldn’t have been more thrilled to make Fluid our first investment in Asia.” 

Access their press kit here:

Reach out to Trasy Lou Walsh for more queries

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