Klippa, a Groningen-based scaleup that was founded by six IT specialists in 2015, has recently secured €1.2 million funding with fintech disruptor Bizcuit Group as a lead investor. The Dutch startup intends to use €1 million to accelerate innovation, the remaining €200,000 will be used to buy out early-stage angel investors.
Commenting on the development, Co-founder and CEO Yeelen Knegtering:
“The current COVID-19 crisis makes digitising business processes and working remotely more important than ever. With our tools, employees can complete their administrative tasks anywhere and anytime, allowing businesses to work safely from home and speed up their administrative process by up to 70 percent.”
This is the fourth investment since the fintech company came into existence in 2015. The scaleup entered the German, French and Spanish market last year to meet the high demand for innovative technology in those markets
Bizcuit is one of the first companies in the Netherlands to offer the full scope of the PSD2 license to SMEs and freelancers. The parties first came into contact when the Bizcuit Group’s subsidiaries, Minox (accounting software) and Bizcuit (fintech software), started using Klippa’s smart document processing APIs.
Hessel Kuik, owner and CEO of the Bizcuit Group:
“After a thorough vendor selection process, we selected Klippa as a partner to provide us with best in class automation of financial document processing. We have worked together with Klippa for over three years now, embedding their technology in several of our offerings. Klippa impressed us with their features, speed, and quality of document processing, which is why we decided to take our business relationship to the next level with this investment.”
Klippa aims to digitise and automate cumbersome document processing, using modern technologies such as machine learning and OCR. Back in 2019, the tech company opened a second office in Amsterdam, now serves more than a thousand customers at home and abroad, and offers various product lines.
“We are very happy to collaborate with the Bizcuit Group, they understand our philosophy and share our digital vision. Many companies still struggle with manually processing documents like invoices and receipts, wasting time that could be spent on their core business. We expect that more companies will want to digitize, given the fact that most businesses operate from home. Even when it’s safe to go back to the office, digitization will be important to stay financially healthy. ”
Klippa specialises in apps and software for improving administrative processes, scanning receipts and invoices, expense processing, identity validation and data extraction solutions.
Main image credits: Klippa
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