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Upwell secures $6.5M to revolutionize AR automation in logistics


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Automotive Ventures invests in Upwell, an AI-powered AR automation platform streamlining billing for logistics, backed by $6.5M in funding.

Upwell, a company focused on automating accounts receivable (AR) processes in the logistics sector, has successfully raised $6.5 million in a seed funding round led by QED Investors, with participation from other notable investors like Y Combinator, Flexport, and Flexport Fund. This investment aims to enhance Upwell's technology which integrates with existing transportation management systems to streamline AR processes, reduce manual tasks, and improve cash flow for logistics companies. The platform automates the entire AR lifecycle, from invoice creation to payment collection, offering features like automated reminders, dispute resolution, and real-time analytics. Upwell's solution not only promises to cut down on the time and cost associated with AR but also aims to provide better visibility and control over financial operations, addressing a significant pain point in the logistics industry where manual AR processes are still prevalent.

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[ https://www.cbtnews.com/upwell-secures-6-5m-to-revolutionize-ar-automation-in-logistics/ ]

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