If you’re a small time entrepreneur, early-stage startup or a freelancer, you understand the importance of online invoicing tools. After all, getting paid is a core aspect of every business.
Moving cash from a client’s bank account to your own is often more complicated than many new entrepreneurs realise. However, these days, there’s no shortage of companies making the process of invoicing and receiving payment easier. While in the Netherlands, Moneybird is quite famous, here’s one company from Sweden which is making waves in the fintech world and has also received some investments recently.
Dicopay raises €4M funding
Dicopay, the Stockholm based payments solutions app, has secured SEK 42 million (around €4 million) in the latest round of funding. The fresh investment in the Swedish company was led by Schibsted Growth, along with Resurs Bank and Moore Strategic Ventures, the latter two being new investors and financial partners with the company.
Commenting on the development, Marie Lundberg, CEO of Dicopay said, “Schibsted, with its strong position in the media and digital services, becomes a valuable expansion partner for us when we broaden our marketing and sales channels. The choice of Resurs Bank as a partner for our checkout solution gives us the opportunity to further expand our offering and offer a completely unique smart solution for small and medium-sized service companies. We are also looking forward to working with Moore Strategic Ventures and taking advantage of their valuable financial expertise and insights.”
“We really like Dicopay helping small business owners. With their solution, companies can focus on doing a good job instead of administration. Entrepreneurs who help entrepreneurs with Fintech, we want to invest in, ”says Dan Ouchterlony, Investment Manager Schibsted Growth.
“For us, the partnership with Dicopay makes it possible to step into the small business segment, a target group that we have not previously targeted our payment solutions but where we see that Resurs Checkout and Dicopay together can create a strong customer offering,” says Anna Nauclèr, CCO, Resurs Bank.
Where it all started?
Dicopay was founded in 2017 by a group of contractors. One of these is Christian Lagerling, known as one of the two Swedes who started the investment bank GP Bullhound in London in 1999. The company currently has 12 employees and aims to revolutionise the service sector with its offering. Marie Lundberg is the Dicopay CEO and Christian Lagerling is its Chairman of the Board.
Total Funding so far..
Prior to the latest funding, the company raised SEK 30 million (around €2.9 million) till September 2018. In the previous funding rounds, two of the investors were former Finance Minister Anders Borg and Ikea’s Chairman of the Board Lars-Johan Jarnheimer, former long-time CEO of Tele2. They also have joined the corporate advisory board.
Mobile app for small time business owners
Dicopay has developed a fully automated mobile app for small time business owners who want to invoice easily and get paid within a few hours.
Stay tuned to Silicon Canals for more updates in the tech startup world.