LV tech firms in joint venture

Tuesday, Jan. 30, 2001 | 11:15 a.m.

Las Vegas-based PurchasePro announced today it has entered into a joint venture with ProfitScape Inc. of Las Vegas, a pact PurchasePro says will increase the level of financing available to its customers.

ProfitScape's product, eNet30, is an online, automated purchasing system. By guaranteeing payment from pre-approved buyers, the product reduces credit risk from Internet transactions with anonymous buyers and streamlines the collection process. The system is backed by GMAC Commercial Credit, a subsidiary of General Motors Corp.

PurchasePro is the first company to use the ProfitScape system in an e-commerce website. The company says the eNet30 system will provide its customers with a level of purchasing power "normally reserved for large corporations."

PurchasePro operates an Internet-based marketplace where sellers of business products and services compete for orders from member businesses.

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