The French fintech Libeo announces this Thursday, February 11 that it has finalized a new round of 20 million euros in Serie A with the partners of DST Global, Serena, LocalGlobe and Breega, as well as renowned business angels – including the founders of Transferwise, iZettle, Klarna, Farfetch or Criteo.
This new round of funding, the third in just over a year, brings the company’s funding to 26 million euros. It must help it quickly accelerate the deployment of its payment service in Europe. Libeo also hopes to increase adoption of its solutions, whether they are used directly through its platform or through its new API. Finally, it plans to triple its workforce and will have more than 100 employees by the end of the year.
“6 times faster” invoice processing
Launched in January 2019, Libeo has developed a platform for dematerialization, validation and payment of supplier invoices. It connects companies directly, without an IBAN and without them having to connect to their bank. The supplier invoice management and payment solution specifically targets micro-businesses. “At a time when individuals send money to each other with one click from their smartphones, most companies continue to print their supplier invoices, store them in filing cabinets and pay them by hand, by transfer or by cheque“, she said in a statement.
These time-consuming tasks without added value take, according to fintech, nearly 10 hours per week for the managers and CFOs of TPE-PME, not to mention entry errors, the risk of fraud or payment delays which are increased during manual processing. bills. Libeo’s tool digitizes, automates and secures the entire payment process between companies. Its platform instantly dematerializes documents, then centralizes and validates them until payment. Users report that the time it takes to process their invoices “is 6 times faster“says Libeo. The solution integrates with other interfaces such as QuickBooks.
Libeo obviously benefited from a favorable context. It saw its payment volume multiplied by 30 in 2020, reaching 100 million euros per year. “SMEs are increasingly turning to digital tools to manage their administrative tasks remotely and securely, a trend accelerated by the Covid-19 crisis“, analyzes the start-up.
The Parisian fintech claims more than 35,000 user companies, including the Eurosanté, Champagne Alain Edouard, Chateau Laguiole, Bodyguard, Cali Sisters, Paname Collections clinics, and franchises such as Monoprix or Starbucks.