Procurement automation platform Paid said to raise £2.2m in funding

Paid, a digital procurement platform, has reportedly secured £2.2m in its seed funding round, which was led by Crane Venture Partners.

Contributions also came from Seedcamp, Techstars, as well as several angel investors, including GoCardless founder Matthew Robinson and Outrun Ventures founder Chris Adelsbach, according to a report from Forbes.

Paid offers a procurement automation platform for buyers and suppliers. The company’s ambition is to create equal opportunity for businesses of all sizes around the world.

Its tool suite includes supplier management and communication tools, work tracking capabilities, simplified invoice matching and processing, and digital payment systems.

Paid co-founder and CEO Tom Howsam told Forbes, “We want to work with tens of thousands of SMEs over the next couple of years by ensuring that the larger buyers that already want to work with them are really able to ensure they thrive. Big businesses and smaller suppliers have an opportunity to grow together.”

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