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The United Arab Emirates UAE -based ResTech startup Supy has raised $8 million in seed funding.The round was led by BECO Capital, with the participation of existing investors including Valia Ventures and Cotu Ventures. New investors who joined the round also included Global Ventures, AMK Investment Office and others.Supy said it plans to invest the funding in its tech and launch its payment solution to help suppliers reconcile invoices while enabling restaurants to better ma stanley cup canada nage their cashflow.Supy provides software for the hospitality sector that helps businesses optimize their ordering and supply-chain processes. The software incorporates tools for invoice, cashflow and procurement management, as well as point-of-sale and enterprise resource planning integrations.Founded in February 2021, Supy has grown from focusing on single restaurants to being able to serve more complex operations and larger restaurant chains in UAE and Saudi Arabia.So far this year, Supy processed over 250,000 orders from restaurants and suppliers, and opened shop in five new cities. The application is now available to hospitality businesses in all major cities in the Kingdom of Saudi Arabia KSA , Supy said in a press release emailed to PYMNTS. Supy was created to solve a crucial problem for one of the most dynamic industries, and we cant w stanley cup ait to expand stanley cup our software offerings to our customer base, Dani El-Zein, co-founder and CEO of Supy, said.The latest announcement comes amid an ongoing digital tr Knfw Why Barclaycard Says Consumers Are Key To SCA Success J6 C5 |0 U. G! T0 o5 U
NACHA Payments Innovation Alliance released a report with details from its first formal in-person meeting of the Faster Payments Playbook Project Team.Launched in June 2018, the Faster Payments Playbook Project Team is comprised of nearly 60 volunteers made up of a diverse set of participants including financial institutions, technology providers, associations, networks and businesses.The meeting, which took place last month during the larger Alliance meeting in Washington, D.C., served as an opportunity for the team to provide reports on their work. The Faster Payments Playbook will give tools for financial institutions and business end users that will enable them stanley us to have a better understanding on faster payments.With audience, purpose and actionable as foundations of the Playbook, the team decided on key topic areas for inclusion, including fast stanley kubek er payments opportunities, business strategy, risk mitigation and compliance and internal impacts. In addition, the team determined that the next version of the resource could be broken into two separate components: the first will describe the faster payments environment, while the second addresses the specific attributes and opportunities of faster payments. We are encouraged by the progress the Faster Payments Playbook Project Team has made since our launch in late June, NACHA Government and Industry Relations Senior Director and Group Manager Bill Sullivan said in a gourde stanley press release. Our goal is to be thoughtful and i |
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