Now (NowAccount) Pitch Deck (2021): 7-Slide Series A Deck

Now (formerly NowAccount) utilized a brief 7-slide deck to secure $29M in Series A funding in 2021. The company addresses a massive $10 trillion gap in B2B accounts receivable by providing an 'innovative payment acceleration platform' that functions like a credit card for B2B transactions. Unlike traditional factoring, Now uses a unique bond securitization structure, including an authorized municipal bond structure, to fund its operations. By the time of this raise, the company had already processed over $700 million in invoices for 1,000 clients selling to 10,000 obligors. The deck is notabl…

Key takeaways

• The company identifies a $10 trillion market in accounts receivable generated by U.S. small-to-middle market B2B companies (Slide 6).
• Now positions itself as a 'payment acceleration platform' rather than a lender or factor to avoid the stigma and balance sheet impact of debt (Slide 4).
• The platform has processed over $700 million in invoices and serves 1,000 clients (Slide 7).
• A core differentiator is the use of an authorized municipal bond structure to support over $600 million in annual transaction volume (Slide 6).
• The product allows SMBs to get paid within 1 day of choosing to accelerate an invoice (Slide 5).
• The portfolio maintains a Days Sales Outstanding (DSO) of less than 60 days (Slide 7).
• Approximately 40% of the company's transaction volume involves Fortune 500 obligors, including Coca-Cola, GE, and AT&T (Slide 7).
• The deck omits a dedicated team slide, instead providing a hyperlink to a website for team information (Slide 6).

Frequently asked questions

How does Now differ from traditional factoring?

According to Slide 4 and Slide 7, Now positions itself as a payment platform rather than a financing product. It enables businesses to get paid immediately in a way that 'feels like accepting a credit card.' Unlike factoring, which often involves high costs and debt on the balance sheet, Now uses a non-recourse structure funded by capital markets via Special Purpose Vehicles (SPVs) and municipal bonds.

What is the target market for Now?

Slide 6 defines the target as U.S. small-to-middle market B2B companies with revenues between $500,000 and $50 million. These companies are described as traditionally underserved by banks and forced to act as 'free banks' to their customers by waiting weeks or months for invoice payments.

What are the key performance metrics shared in the deck?

Slide 7 lists several major milestones: 1,000 clients, 10,000 obligors, over $700 million in total invoices processed, and a DSO (Days Sales Outstanding) of under 60 days. It also notes that debt capital in their SPV turns more than six times per year.

How does Now mitigate the risk of non-payment?

Slide 6 explains that the accounts receivable (AR) portfolio is trade-credit insured, which limits the risk of non-payment. Additionally, the AR is originated by credit-approved SMBs, and the current portfolio has experienced 'minimal write-offs.' Slide 7 also highlights that 40% of their volume comes from Fortune 500 companies.

What is missing from this pitch deck?

The deck is missing several standard components: a dedicated team slide with bios (only a link is provided), a detailed 'Ask' slide, a competitive landscape analysis, and specific forward-looking financial projections. It also lacks a clear breakdown of how the Series A capital will be allocated across departments like sales, marketing, or engineering.

Now (NowAccount) pitch deck: the facts

Company

Now (NowAccount)

Year

2021

Stage

Series A

Slides

7

Sector

FinTech

Deck type

Investor Pitch Deck

Outcome

$29M Raised

Headquarters

USA

Now (NowAccount) pitch deck PDF

The full Now (NowAccount) deck is embedded on this page and can be read slide by slide in the browser — no download or account required. Each slide is covered in the breakdown above.

What the Now (NowAccount / NOW Corp) pitch deck was used for

This 7‑slide **Series A pitch deck from 2021** was used by Now (formerly NowAccount), an Atlanta‑based fintech that accelerates B2B invoice payments for SMBs. The deck supported an October 2021 **$29M Series A extension**, structured as a mix of a $25M credit facility and $4M of additional equity, following an initial $9.5M Series A equity round in June 2021. The company’s product, branded NowAccount®/Revenue On Demand™, lets small and middle‑market B2B businesses get paid immediately on approved invoices via a unique municipal‑bond and SPV structure that taps capital markets instead of traditional factoring or loans. The deck emphasizes repositioning trade credit funding from SMB balance sheets to capital markets, risk‑mitigated structures for capital providers, and scalable underwriting using rules‑based and machine‑learning infrastructure, all to justify the blended debt‑and‑equity raise.

Business model: Fintech platform providing **payment acceleration / revenue-on-demand** for B2B SMBs by purchasing approved invoices and turning them into immediate cash flow for a flat fee, without traditional loans or factoring.

Year

2021

Raised

$29M

Investors

Brigade Capital Management, Virgo Investment Group

Headquarters

Atlanta, Georgia, USA

Industry

FinTech / B2B payments / working capital financing.

Round: Series A extension (mix of debt and equity tied to the Series A).

Raising: Series A extension financing comprising a $25M credit facility and $4M equity.

Lead investor: Brigade Capital Management and Virgo Investment Group co‑led the $29M Series A extension financing.

Total funding: At least $9.5M Series A equity in June 2021 plus a $29M mix of credit facility and equity in October 2021; total disclosed financing is at least $38.5M, with several databases listing ~$34.9M in funding rounds (excluding all securitization/bond facilities).

Use of funds as presented: Refinance Now’s existing municipal bond facility, scale the purchase of future invoices from SMB clients, expand its portfolio, and fund platform, technology, sales, and marketing growth.

What happened after the Now (NowAccount / NOW Corp) deck

Following an initial $9.5M Series A equity round in June 2021, Now used its concise 7‑slide deck to support a $29M Series A extension in October 2021, structured as a mix of credit facility and equity led by Brigade Capital Management and Virgo, alongside refinancing of its municipal bond facility; the company has continued operating and expanding its Revenue On Demand™ platform for B2B SMBs.

• June 2021: Closed a **$9.5M Series A equity round** led by Virgo Investment Group with Cresset Capital Partners to scale
• August 27, 2021: Completed a **debt and equity financing** with Brigade Capital Management affiliates, advised by Morris
• October 7–8, 2021: Announced a **$29M Series A extension financing**, comprising a $25M credit facility and $4M of addit

What the Now (NowAccount / NOW Corp) deck got right

• Strong and differentiated product positioning. The deck presents a **clear, differentiated product narrative**: Now provides an innovative payment acceleration platform for SMBs that enables immediate payment on B2B invoices “in a way that feels like accepting a credit card,” explicitly distinguishing itself from traditional lending, factoring, and receivables financing.
• Clear articulation of a very large, under‑served market. It leverages a compelling **macro market insight**: U.S. small‑to‑middle‑market B2B companies with $500K–$50M in revenue generate more than **$10T in accounts receivable per year**, and currently fund that credit by limiting growth, taking on debt, or raising equity, framing a very large and under‑served opportunity.
• Compelling and defensible capital‑markets structure. The deck highlights a **unique funding and risk‑mitigation structure**—SPVs funded directly from capital markets via an authorized municipal bond structure (Grow America Now® bonds) with collateral enhancements—offering better safety and yield for capital sources compared to traditional lending or factoring.
• Ecosystem‑friendly, off‑balance‑sheet framing. By positioning the product as **off‑balance‑sheet and frictionless** for both SMBs and their customers, and as attractive to large partners serving SMBs, the deck effectively communicates ecosystem alignment and potential for strategic partnerships.
• Focus on scalable, technology‑driven underwriting. The deck emphasizes **rules‑based and machine‑learning underwriting and processing infrastructure** capable of efficiently handling high volumes of SMB invoices, supporting a narrative of scalability and operational leverage at portfolio scale.
• High impact despite minimal slide count. Despite having only **seven slides**, the deck was sufficient to support a **$29M Series A extension financing** (credit plus equity), demonstrating disciplined storytelling and investor‑ready clarity in a compact format.

What could have been stronger

• Limited quantitative portfolio and traction detail in the short deck. Despite highlighting that U.S. SMBs generate over **$10T in receivables annually**, the 7‑slide deck (as shown in Business Insider’s coverage) provides limited **granular traction metrics**—such as historical invoice volume purchased, default/loss rates, unit economics, or cohort performance—making it harder for investors to quantitatively assess portfolio quality and scalability from the deck alone.
• Insufficient detail on regulatory, accounting, and compliance implications. The deck emphasizes that the structure is **“off balance sheet” and not factoring or loans**, but offers limited **regulatory and accounting clarity** (e.g., treatment under GAAP/IFRS for clients, compliance with securities and lending regulations), which could leave sophisticated investors with unanswered questions about legal and compliance risk.
• High‑level treatment of bond/SPV risk without supporting analytics. While Now’s municipal bond and SPV funding model is a core differentiator, the deck provides only **high‑level descriptions** of risk mitigation (collateral enhancements, SPVs) without detailed stress‑testing results, historical performance of the bond programs, or counterparty risk analysis, which may be a concern for credit‑oriented investors.
• Limited competitive and pricing benchmarking in the deck. The deck positions Now as a **payment platform akin to card acceptance**, but does not deeply compare its economics and adoption friction versus existing solutions (e.g., bank lines, factoring, invoice financing platforms), leaving some competitive positioning and pricing questions unanswered for investors.

How an investor would read this deck

What draws attention

• Unique **municipal bond and SPV funding structure** that shifts B2B trade credit from SMB balance sheets to capital markets, potentially offering superior yield and risk mitigation for institutional capital.
• Large **addressable market**: U.S. small‑to‑middle‑market B2B companies with $500K–$50M in revenue generate more than **$10T in accounts receivable annually**, indicating significant room for product adoption and portfolio growth.
• Clear **positioning as a payment platform** rather than a lending or factoring product, which can make the service more attractive to SMBs, their customers, and large partners serving the SMB segment.
• Rules‑based, **machine‑learning‑enabled underwriting and processing infrastructure** designed to handle high volumes of SMB invoices, supporting scalability of the model.
• Credible **investor roster** and capital sources, including Virgo Investment Group, Brigade Capital Management, Cresset Capital Partners, and strategic capital via Grow America Now® bonds and institutional partners such as Goldman Sachs.

Risks that stand out

• Dependence on **capital markets and institutional facilities**—including municipal bonds and credit lines from investors like Brigade and Virgo—exposes the business model to funding‑market disruptions, refinancing risk, and changes in risk appetite among credit investors.
• Complex **municipal bond and SPV structures** may introduce legal, regulatory, and operational risk, especially if accounting treatment or regulatory interpretations change, or if the structures become less favored versus alternative securitization approaches.
• Targeting SMBs that are **traditionally underserved by banks and factors** implies elevated credit risk; the deck’s high‑level risk‑mitigation descriptions without detailed performance data may underrepresent potential portfolio volatility.
• Competition from alternative **invoice financing, factoring, and embedded‑finance platforms** could erode margins or force higher risk‑taking to maintain growth, especially if competitors can replicate aspects of the revenue‑on‑demand model.

Questions this deck invites

• How have Now’s **invoice portfolios performed over time**—including default rates, recoveries, and volatility—under different economic conditions, and how do those metrics compare to traditional factoring or SMB credit portfolios?
• What are the detailed **unit economics** (take‑rate/fee, cost of capital via municipal bonds and credit facilities, servicing and loss costs) at different scales, and how does Now achieve attractive return on assets at portfolio scale as cl
• How are the Grow America Now® bonds and SPVs **structured legally and regulatorily** (e.g., exemptions, disclosures, ratings, investor protections), and what are the key regulatory and accounting considerations for both Now and its SMB clie
• What are Now’s **customer acquisition channels, penetration within its target SMB revenue bands, and retention metrics**, and how does its go‑to‑market compare to competing invoice financing / revenue‑based financing products?
• How does Now manage **concentration risk** (industry, geography, customer) within its invoice portfolios and bond structures, and what limits or covenants are embedded in its facilities with partners like Brigade and Virgo?

What founders can take from the Now (NowAccount / NOW Corp) deck

• Extremely concise decks (7 slides) can still close sizable financings when they **clearly articulate a large market and a distinctive capital structure**, as Now did by focusing on the $10T SMB receivables opportunity and its municipal‑bond/SPV model.
• Reframing a financial product as a **“payment platform” rather than debt or factoring** can be powerful positioning, making the solution more appealing to SMBs, their customers, and strategic partners.
• Highlighting a **novel funding mechanism** (Grow America Now® bonds and authorized municipal bond structures) can attract credit and equity investors when combined with credible partners and demonstrable risk mitigation.
• Connecting product design to **macro‑level balance‑sheet shifts**—here, moving trade credit funding from SMBs to capital markets similar to how credit cards shifted B2C credit—helps investors see both strategic significance and scalability.
• Emphasizing **off‑balance‑sheet treatment and frictionless customer experience** can differentiate a fintech solution from traditional lending or factoring, but investors will still expect robust detail on risk, regulation, and performance beyond the deck.
• Including references to **rules‑based and machine‑learning underwriting** signals scalability and sophistication, but investors will want follow‑up materials with concrete performance metrics and model validation.

Now (NowAccount / NOW Corp) pitch deck: common questions

What does Now / NowAccount actually do?

Now (formerly NowAccount) is a fintech platform that provides **payment acceleration / Revenue On Demand™** to B2B small and middle‑market businesses, turning their approved invoices into immediate cash flow for a flat fee, without requiring them to take on debt or use traditional factoring.

How much did Now raise with this pitch deck, and from whom?

In **June 2021**, Now raised a **$9.5M Series A equity round** led by Virgo Investment Group, with participation from Cresset Capital Partners, to scale its invoice payment platform. In **October 2021**, it closed a **$29M Series A extension**, consisting of a **$25M credit facility and $4M of additional equity**, led by Brigade Capital Management and Virgo Investment Group.

What is unique about Now’s municipal bond and SPV structure?

The deck describes a structure in which SMB invoices are purchased via **SPVs (special purpose vehicles) funded directly from capital markets through an authorized municipal bond structure**, branded as Grow America Now® bonds. This structure is designed to mitigate risk for capital providers with collateral enhancements not typically available to SMBs and to offer better safety and yield than conventional lending or factoring.

Which customers does Now target with this Series A deck?

According to the deck and supporting articles, Now targets **U.S. B2B SMBs with $500K–$50M in annual revenue**, a segment that collectively generates over **$10 trillion in accounts receivable per year**, and is traditionally underserved by banks and factors. The platform aims to help these businesses avoid funding trade credit by limiting growth, taking on debt, or raising equity, by shifting credit funding to the capital markets instead.

What was the purpose of the $29M Series A extension round highlighted in the deck?

The **October 2021 $29M financing** (credit facility plus equity) was intended to **refinance an existing municipal bond facility, expand the purchase of invoices from Now’s clients, and scale its portfolio and platform**, including technology development and sales/marketing to reach more SMBs.

Sources

Funding and outcome facts on this page were researched on 2026-08-21 from the pages below.

• Stacey Abrams co-founded Now nabs $9.5m Series A to automate B2B invoices
• Stacey Abrams co-founded fintech company Now raises $9.5M
• Check out the 7-page deck that Now, Stacey Abrams' fintech that wants to help small businesses 'grow fearlessly', used to raise $29 million
• Our Structure - Revenue On Demand™ for growing B2B...
• Now Pitch Deck
• Fintech startup Now secures $29M in new financing
• Total Raised

Now (NowAccount) pitch deck slides

What each slide of the Now (NowAccount) pitch deck says

Slide 3

It all began with a few 7 entrepreneurs and a dream 1 ZL to help others grow. Vl

Slide 4

ouRpropuCT Now® provides an innovative payment acceleration platform for small and middle-market businesses (SMBs). B2B SMBs are traditionally underserved by banks and factors, and their need for capital is often driven by the fact that they have to wait to get paid by their customers. NowAccount's unique structure enables SMBs to get paid immediately without loans or factoring, while at the same time providing capital sources a structure with better safety and yield through which to fund SMBs. In contrast to traditional lending, factoring and receivables financing, Now® enables the business to get paid immediately in a way that feels like accepting a credit card for payment. Addressing SMB…

Slide 5

OUR PRODUCT Our vision is to create a world where diverse businesses of all sizes have access to capital, commerce, and customer opportunities. ; g I, Now is committed to helping businesses grow O—CEO— (2) (2) (0) 7 \ through accelerated | invoice payments. Deliver goods or Choose to Get Paid Rest easily while services and invoice accelerate invoice within 1 day! ‘we manage the your customer. payment with your invoices and do the Now Account. waiting for you.

Slide 6

Wy Now? The U.S. small - middle market B2B companiescharacterized as companies with revenues of $500K-$50 millon - generate more than $10 triion in accounts receivable (extension of free credit to their customers) each year. These 'companies fund this credit by imiting their growth, taking on debt or raising equity. In contrast, B2C businesses no longer have to fund credit to their customers because they accept credit cards for payment, shifting the funding of credit from their balance sheets to the capital markets. The current market presents a compelling opportunity for No 10 shiftthe funding of B2B trade credit from the balance sheets of millions of SMB businesses to the capital markets…

Slide 7

PORTFOLIO SUMMARY = fi ©Ror Al oy ?., Udger martave. + Positioning as a payment platform (rather than a factoring or financing product)is more desirable 10 the SMB (off balance shot), frctionless to the SMB's customer and atiractive t0 large partners looking 10 serve the SMB market + Nows structure mitigates risk with the use of SPV's funded directly from the capial markets via a municipal bond structure that's resilent and with collateral enhancemens not avaiabio to the SMB markel + Now's underwrting and processing infrasiructure is rules-based and employs machine learing 1o effectively and effciently process a high volume of SMB invoices + Attractive retum on assets at scale: The deb capit…

Slide text above is read directly from the Now (NowAccount) deck PDF embedded on this page.

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