The Dutch fintech startup InvoiceFinance has raised €3.4 million from venture capital fund Peak Capital and fintech entrepreneur Kalo Bagijn. InvoiceFinance is an online marketplace where SMEs can get financing on their outstanding invoices from professional and institutional investors. The funding will be used to fuel growth.
InvoiceFinance was founded in 2015 with the goal to make financing as easy as possible. The startup provides a quick, simple and 100% online solution, without losing the personal touch. InvoiceFinance is transparent about the costs, a small percentage of the invoice value, so you always know upfront how much you need to pay. There are no long term contracts, so you can even try it out first.
“The money that is locked in outstanding invoices for up to 30, 60 or sometimes 90 days is exactly what many companies need to grow their business or pay their bills” explains Sven van der Biezen, CEO and co-founder of InvoiceFinance. He continues: “InvoiceFinance gives companies access to more working capital using an online platform where companies can sign up for free in under 10 minutes, choose which invoices they want to finance and get their money within 24 hours. That’s how easy financing should be.”
InvoiceFinance is accessible for everyone. No industries are excluded. Even for companies with credit lines under €250.000, a market segment that is dealing with a huge downfall in available credit and which is not cost effective for banks. Together with various partners, such as accountants, intermediaries and those same banks, InvoiceFinance offers an alternative solution.
“The capital that is being used to finance invoices comes from professional and institutional investors, who can get a nice return on investment” says Johan van Mil, co-founder and managing partner of Peak Capital. “InvoiceFinance belongs to a new generation of credit providers who challenge traditional players with innovative technologies such as machine learning and big data, so that you can get faster, cheaper and more credit. We are confident that this team has what it takes to realise this on a large scale.”
In addition to the knowledge of Peak Capital, InvoiceFinance has also chosen for the experience of Kalo Bagijn who, as former director and co-founder of online broker BinckBank and currently online pension provider Brand New Day, knows like no other how to disrupt the established order.