Fintech startup InvoiceFinance gets €3.4M in seed funding

Fintech startup InvoiceFinance from Den Bosch has raised a 3.4 million euro seed round from Dutch VC Peak Capital and fintech entrepreneur Kalo Bagijn.

InvoiceFinance started last year and was founded by Sven van der Biezen (CEO), Marijn van Aerle and Gion van den Bogaert. The startup is active in, what's in a name, the invoice financing industry. Waiting for invoices to be paid can be a problem for small businesses. The startup lets investors pay a large sum of the money upfront on the same day, so entrepreneurs don't have to worry about cashflow.

InvoiceFinance is accessible for everyone; no industries are excluded. Even for companies with credit lines under 250.000 euro, a market segment that is dealing with a huge downfall in credit and that is not cost effective for banks. Together with various partners, such as accountants, intermediaries and those same banks, InvoiceFinance offers an alternative solution.

The investment money will be used to quickly grow and to hire people in tech, marketing and sales, told Van der Biezen to StartupJuncture. "We also have international ambitions, but not with this funding round."

Hackers, hustlers and hipsters

There sure are a lot of these startups worldwide. So what makes InvoiceFinance different? Johan van Mil, co-founder and managing partner of Peak Capital, has three good reasons to invest:

"First of all, the team is great. They have the perfect combination of hacker, hustler and hipster – and a lot of experience in finance. Next to that, the invoice financing market in The Netherlands and Europe is underdeveloped, so there's a lot to gain. Last but not least: their business is highly scalable."

Kalo Bagijn

As one of the investors, entrepreneur Kalo Bagijn is no stranger to the fintech world. He was the former director and co-founder of online broker BinckBank and currently founder and director of online pension provider Brand New Day. "InvoiceFinance has listened very carefully to what customers expect these days from credit providers and distinguishes itself by this from many others", he said.