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GenNx360 Acquires B2B Industrial, AMW Packaging

PYMNTS

New York private equity firm GenNx360 Capital Partners has acquired B2B Industrial and the assets of AMW Packaging Supply , which will give the company a boost in the industrial packaging space, according to a press release. AMW Packaging will continue to operate out of its Phoenix, Arizona, location.

Industry 181
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Building Vendor Trust With Virtual Cards

PYMNTS

Such solutions help construction firms resolve balances while providing their business partners with crucial access to working capital. Virtual cards move payments quickly,” Phoenix said. “We Checks take longer to reach vendors,” Phoenix said. It’s for a particular vendor for a particular invoice,” Phoenix said.

Cards 116
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Carvana Stock Falls Short On First Day Of IPO

PYMNTS

Founded in 2012, the Phoenix-based company sells cars through its website and operates automated towers that store cars in U.S. William Blair & Company, LLC, BMO Capital Markets Corp. Carvana Co., According to Barron’s , the stock was down $2.33, or almost 16 percent, at $12.67, below its IPO price of $15. Baird & Co.,

Nashville 128
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Nikola Motor CEO Defends $4M In PPP Funds

PYMNTS

While the program is touted by lawmakers and the White House as a lifeline to small- and medium-sized businesses (SMBs) and their workers, the Phoenix hybrid truck manufacturer is another example of a mega company that received the cash. Trevor Milton, the CEO and founder of Nikola Motor Company , is defending his company’s receipt of $4.1

Utah 156
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5 New Year’s Resolutions For Any Sized Bank That You Must Get Right in 2023

South State Correspondent

Because many banks are now producing below their cost of capital, growth further exacerbates their issues and drives them out of business (likely through a sale) faster. In addition, they may consider focusing on these five critical areas: Improve Operating Leverage. Improving efficiency is like “losing weight” and “working out more.”

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Chinese Startup Neolix Mass Producing Driverless Delivery Vans

PYMNTS

The vans are operational in the new Xiongan economic zone southwest of Beijing and in small areas of the capital as well as Changzhou. large self-driving trucks already carry mail from Phoenix to Dallas, and the startup Nuro began working with Kroger in Arizona in December. In the U.S.,

Arizona 115
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Logistics Startup Darkstore Scores $1.4M Seed

PYMNTS

million in a seed funding round led by VC firm PivotNorth Capital. Darkstore already operates in San Francisco, Phoenix and New York City. Founded in May of 2016, San Francisco-based Darkstore offers a platform that enables on-demand, same-day and 2-day delivery options for eCommerce sites. Just recently, the company scored $1.4