Existing investors .406 Ventures and Fidelity Growth Partners have participated in the round that brings the company’s total funding to USD 22.7 million. MineralTree will use the funds to facilitate product development and further expand its direct sales organization targeting companies and financial accounting outsourcing (FAO) organizations.
As part of the investment, executive vice president and head of financial services at First Data, Andrew Gelb, will be joining the Board of Directors at MineralTree.
MineralTree is an accounts payable (AP) and payment automation solution provider.
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