What are the monetization tactics of B2B marketplaces: interchange on payments, lending interest, ads or volume-based discounts?

Most marketplaces start with a take rate on the actual transactions. So that's why GMV is such an important metric, because you're trying to say, “Okay, there's a fixed percentage of a transaction that will be captured, and that number will vary by vertical and how much you're able to capture from there.”

After taking a cut on the transaction itself, I think there's a whole set of ways that you can monetize. Other things include capturing a portion of the interchange on payments, trade financing, traditional SaaS for vertically integrated solutions, professional services (account management, curation, recommendations), monetizing the float. As mentioned earlier, in B2B marketplaces, you take a smaller margin than the product producer, so you have all this incentive to layer in additional services, which boosts your margins over time. That's the role of automation: to drive the potential for increased margins or savings.