Fintech startup InvoiceFinance secures €3,4 million in fresh funding

Fintech startup InvoiceFinance raised €3,4 million in fresh funding. The Dutch startup, based in Den Bosch, finances outstanding invoices for small and medium sized companies, allowing them to receive their money faster. New investors are Peak Capital and Kalo Bagijn, founder of Binck Bank.

What’s in a name

InvoiceFinance does exactly what its name says: financing outstanding invoices. It is a marketplace where entrepeneurs and companies can shop for capital provided by professional investors. “The money that is locked in outstanding invoices for 30, 60 or sometimes even 90 days is exactly what many companies need to grow or pay their bills” said Sven van der Biezen, CEO of InvoiceFinance. The fintech startup will use the new funding to hire new talent and accelerate their growth.

Working capital

“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.” Clients of InvoiceFinance pay a percentage of the financed amount. This ranges from 2 to 4 percent, depending on the payment deadline of the original invoice.

Institutional investors

InvoiceFinance is open to everyone, no matter the industry. This includes companies with credit below €250.000, who have trouble finding investments from banks. “The money being used to finance outstanding invoices is provided by professional and institutional investors, who can achieve good returns”, says Johan van Mil, co-founder and Managing partner of Peak Capital. The VC fund also invested in startups like Catawiki, CheapCargo, Flinders, NPEX, Peecho, Studocu and IENS.

Joined by Binck Bank founder

Besides Peak Capital, Kalo Bagijn also joined as investor. In 2000 he founded BinckBank which grew to the top 5 of biggest investment banks in Europe. In 2008 he started Brand New Day, to disrupt pensions and life insurances. The company is currently managing over €1 billion in funds.

Picture: InvoiceFinance CTO Marijn van Aerle, CEO Sven van der Biezen and COO Gion van den Bogaert