BillFront is a London and Berlin-based FinTech startup which enables the digital media industry to get faster access to their media revenues. The young company has just announced the successful completion of an integrated debt and equity Series A funding round worth €33 million.
The media industry still suffers from the long payment terms offered by many of the largest media buyers, which hampers the speed at which companies in the space can grow. Conversely, it is a major advantage for ad-tech companies to be able to offer short payment terms to their suppliers.
BillFront uses technology that is based on data-driven risk management methodology, which connects directly to media companies’ invoicing systems and automatically suggests eligible invoices for financing. This means that customers receive financing in a fraction of the time compared to traditional finance providers. The company works with corporate clients within the digital media space such as advertising agencies, Demand-Side and Supply-Side-Platforms, ad-exchanges, networks, as well as publishers and app developers all around the world.
BillFront was co-founded in 2015 by Christopher Vogt and Greg Dimitriou. They combine several years of working experience in Finance and ad-tech. Dimitriou worked 12 years for JP Morgan in the media investment banking space and Vogt held a leading position at a major demand-side platform in Germany.
Christopher Vogt, Co-Founder and Managing Director: “There is a clear need for growth capital within ad-tech, and our solution provides an attractive alternative to expensive equity capital on one hand, and often inflexible debt financings on the other. And, we make requesting funds through our platform so seamless that our clients can focus more on their core business.”
The funding is going to be used to expand the company further, to support its fast growing customer needs as well as to continue the development of its proprietary technology and the acquisition of new talent. Investors include a global player in online and mobile financing solutions to consumers 4finance and a leading provider of structured finance solutions in Europe NIBC – Bank Deutschland. Previously BillFront received funding from independent fintech company builder FinLeap.