Bain invests in small-business finance company

Globe Staff

Bain Capital Ventures, the Boston-based venture capital affiliate of Bain Capital, announced an investment in a New Orleans-based company that is helping small businesses turn their cash flow so they can grow and create jobs.

Bain Capital Ventures said it will provide $17 million in Series C financing to the Receivables Exchange, an online marketplace for real-time trading of accounts receivable.

"The receivables finance industry represents an $18 trillion marketplace, and the current economic downturn has only helped the company's prospects," Bain Capital Ventures said in a press release about the Receivables Exchange. "As bank lending has slowed, small-businesses in need of cash have had to search for alternative sources of capital. The Receivables Exchange makes it fast, easy, and efficient for these small-businesses to gain quick access to working capital at a competitive cost."