InvoiceFinance, a fintech startup based in Amsterdam, has raised €6 million from Peak Capital.
Entrepreneurs are often left waiting long periods of time to get their invoices paid, explained CEO Sven van der Biezen. The company offers credit lines on outstanding invoices.
“InvoiceFinance offers companies a solution by providing an advance on these invoices on the same day they are sent. Very useful if your bank can’t help you when you need money to pay for staff, bills or VAT for example,” he said.
It charges a 1% transaction fee on the value of each invoice that it finances.
“This enables companies to focus on their growth instead of worrying about cash flow,” added Johan van Mil, managing partner of Peak Capital.
The new funds will be invested in marketing purposes and hiring for the sales and development team.
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