UK-based financing platform Invoice Cycle has raised a $4 million seed round from Germany’s Müller Medien Group, the publishers of the Yellow Pages directory, with participation from SeedIL and existing investors.
Through the platform, small and medium sized businesses can apply for advance payments on outstanding invoices to maintain their cash flow.
“While small and medium-sized businesses face numerous challenges on their road to success, waiting for invoices to get paid should not be one of them,” explained Gideon Shaw, CEO of Invoice Cycle. Invoice Cycle has seen traction with SMBs in adtech, SaaS, and manufacturing while it has partnered with fintech firms GoCardless and DueDil. The company intends to use its new funds for further research and development and expanding its customer base.
The investment from Mueller Medien will give Invoice Cycle an opportunity to expand its business into Germany, according to Michael Oschmann, CEO of Müller Medien.
“Through our group of companies, we have access to tens of thousands of SMBs in Germany, and are always looking for turn-key technology solutions that can leverage this exposure and generate additional revenue streams,” he said.