Dutch fintech startup InvoiceFinance has raised EUR 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.
“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” says Sven van der Biezen, CEO and co-founder of InvoiceFinance. “InvoiceFinance gives companies access to more working capital using an online platform (www.invoicefinance.com) 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 EUR 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. “InvoiceFinance has the potential to become very successful, but not only because it’s so scalable what they do,” says Bagijn. “InvoiceFinance has also listened very carefully to what customers expect these days from credit providers and distinguishes itself by this from many others.”
InvoiceFinance wants to make financing as easy as possible. InvoiceFinance 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.
“We are very fortunate to have such entrepreneurial investors on board, with a large network and great reputation, who will enable us to help SMEs with the working capital they need.” concludes Van der Biezen.
InvoiceFinance is a Dutch fintech startup where companies can get their outstanding invoices funded by professional and institutional investors. The founders are Sven van der Biezen and Marijn van Aerle – who have co-founded many startups including Bimshare, that was acquired by Gehry Technologies, founded by Pritzker prize winning architect Frank Gehry, that in turn got acquired by Trimble, listed on the NASDAQ – and Gion van den Bogaert, expert in the area of finance, risk and operations who worked for KPMG and ABN AMRO. For more information visit www.invoicefinance.com
About Kalo Bagijn
Customer satisfaction, investments, internet and disruption are a common thread in the career of Kalo Bagijn. Founded online broker BinckBank in 2000, together with Thierry Schaap, that under their leadership became a market leader in the Benelux and a top five player in Europe with 800 FTEs. He left the then listed BinckBank in 2008 to establish Brand New Day, an online provider of pensions and life insurances, which has grown rapidly in the past year to more than 130,000 customers and EUR 1 billion of client assets.