San Mateo, Calif.-based fintech PingPong has teamed with Boston startup Perch to reach the “roll up” market, which refers to companies that bundle much smaller brands to build scale, says PaymentsSource.
The company specializes in automating cross-border payments, while Perch acquires and aggregates third parties that use Fulfilment by Amazon to operate direct-to-consumer businesses.
Perch currently owns more than 30 e-commerce brands, they say, and they have set a goal of reaching 50 by the end of the year.
“Payments across borders are difficult,” Chris Bell, CEO of Perch, told the website. “Supply chains are strained,” he added, mentioning the recent problems this spring at Long Beach’s congested port, where commercial vessels were waiting an average of over seven days before being unloaded.
Like Perch, PingPong sees their role as a company to help reduce cross-border payment friction. PingPong’s platform allows sellers to pay suppliers directly, rather than relying on different processors in each market, and that, in turn, reduces the time needed to release inventory.
This article was written by John Adams and originally published on PaymentsSource. A subscription may be required.
