The Antwerp-based startup, POM, that develops payment solutions to simplify the processing of invoices has recently raised €830,000 in a new capital round. The extra capital injection comes from a few business angels from the Be Angels and BAN Vlaanderennetworks. In total, the company has raised €1.9 million capital so far.
The existing shareholders, consisting of the management of POM and B2BOOST, also participated in this capital round. The new funds raised will be used to accelerate growth in Belgium, but also outside the national borders. Extra investments will also be made in the further development of POM’s range of services in order to be able to fully anticipate the rapidly changing market conditions (eg PSD2, instant payments, etc.). Ease of payment for end users and a more efficient organisation of customer invoicing for companies are paramount.
At the same time, the POM core team will be strengthened in the coming months, both commercially and technologically. The Board of Directors is complemented by the expertise of business angels Jean-Marc Toussaint and Steve Vantorre, who also participated in the capital increase.
Johannes Vermeire, co-founder, and CEO of POM was quoted saying in the company blog, “This additional investment from Be Angels and BAN Flanders gives us more strength in the market and allows us to further refine our payment solutions. In this way, we can let more and more people enjoy the simplicity of payment and redeem them from time-consuming paperwork. The invoice administration of companies and organizations will also benefit from this. ”
In order to further strengthen the growth ambitions, POM also signed a strategic cooperation agreement with a large sector-based company earlier this month. Reportedly, more details about this partnership will be announced later.
Meanwhile, are in cooperation with the National Bank, the company will also take further steps in the license file that applies to a part of the payment services in POM’s mobile app. POM expects to be able to reactivate these services quickly.
POM was advised for this capital round by Merodis, an independent corporate finance advisory from Brussels.
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