Klippa, a Dutch company helping businesses digitise their financial documents, has closed a €1.2 million investment from Bizcuit Group, which owns a collection of financial software. The startup intends to use €1 million to accelerate innovation, and the remaining €200,000 to buy out early-stage angel investors. The two sides first came into contact when Bizcuit Group’s subsidiaries, Minox (accounting software) and Bizcuit (fintech software), started using the Groningen-based startup's smart document processing APIs. “We have worked together with Klippa for over three years now, embedding their technology in several of our offerings. Klippa impressed us with their features, speed and quality of document processing, which is why we decided to take our business relationship to the next level with this investment,” explained Hessel Kuik, CEO of Bizcuit Group.
Founded in 2015, Klippa entered the German, French, and Spanish markets last year. Co-founder and CEO Yeelen Knegtering said that Switzerland, Austria, and the UK are next on the fintech startup’s list.