Sourcery, a digital payments and commerce platform for the food and hospitality industry, has completed a $5 million venture round.

Founded in 2012, Sourcery provides a SaaS platform for digital invoicing and payments, which includes a dashboard for real-time spend monitoring and cash flow management. This round of investment brings the company’s total funding to $7.5 million.

Led by Marker LLC with Steadfast Capital and existing investors, the new funding will be used to expand the company’s core digital invoice and payments processing technologies, adding accounts receivable capabilities for vendors who receive payments through the platform. In addition, the funds will enable the company to build enterprise-level features designed to support large chain restaurants and retailers.

“While the food and hospitality industry is one of the nation’s largest, there is still opportunity to provide greater efficiency through technology,” said Sourcery founder and CEO Na’ama Moran. “Ultimately, it’s our goal to help our customers streamline payments and invoicing and derive insights about pricing and supply so they can focus on growing their businesses and not on doing administrative tasks.”

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