Klippa, Dutch digital receipt startup gets 200K funding, will raise additional 2M Series A in 2020

Klippa, Dutch digital receipt startup gets 200K funding, will raise additional 2M Series A in 2020

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Businesses will have hundreds and thousands of invoices, vouchers, and receipts, irrespective of their nature. These have to be documented in order to keep track of the overall expenses and take the business to the right path. Usually, these receipts will be stacked in file folders and it could be really chaotic to organise them.

The digital transformation has a solution to this issue and lets businesses manage these reports easier. By digitising vouchers and invoices, it is possible to find the receipt that is needed in just a few seconds.

Klippa was founded in 2015 by Bart-Jan Maatman, Robert-Jan Verheggen, Jeroen Bobbeldijk, and Yeelen Knegtering in Groningen. With the intention to digitise paper processes with modern technologies, the company helps clients enhance their organisations’ effectiveness with machine learning and OCR. It works with the passion to help clients digitise paper processes using smart apps and data extraction using OCR.

€200k investment

In a recent development, Klippa has raised €200k funding from NOM, which is an Investment and Development Agency for the Northern Netherlands responsible for stimulating activity and development of employment in the region. The company raised the funding to bridge to their Series A investment. The investment provides sales force to the owners aiming to conquer the European market with their OCR or any other scan & recognise technology.

When contacted, the Klippa CEO and co-founder Yeelen Knegtering revealed to Silicon Canals that “Klippa will raise an additional €2 million series A to help them scale globally faster.” It aims to become Europe’s largest document processor in the coming years.

Steps outside the Netherlands!

Klippa is gradually stepping outside the Netherlands and eyes at international expansion. The company sees the Netherlands as a leader in terms of innovation and technology. It is said to have a combination of local expertise and market-leading technology ensuring that they are gaining a foothold in the other markets. Already, the company’s systems process thousands of documents in Spain, Belgium, France, and the UK every day.

Klaas Kooistra, Investment Manager at NOM said, “Klippa has an excellent and driven team of experts from various fields and their OCR technology is the best in the market. Klippa has the potential to scale up internationally. The market in which they operate already has reasonable competition, but I am confident that they can cope with it.”

Exceptional progress

Initially, Klippa debuted as an app for freelancers. It was born from its own receipt frustration and entrepreneurs who came up with a tool to eliminate their administrative burden. Arguably, having a digital copy of the receipt saves a lot of time and gives peace to any business and its administrators. This is where Klippa played big by developing its OCR technology and making it available to companies via an API.

Main image picture credits: Klippa

Stay tuned to Silicon Canals for more European technology news.

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