Around 35 billion invoices are created across Europe every year. However, from SMEs generating these, 77% are apparently not using any digital tools for managing or paying them. Enter, Libeo, a France-based fintech platform built especially for SMEs. The company offers its services to business owners, who need to process invoices and it claims to do so six times faster, while reducing fraud and processing errors.
Libeo has announced a notable €20 million (£17.5 million approx.) Series A funding raise from DST Global, Serena, Breega and LocalGlobe, the London-based seed fund. Founded in 2019, the startup’s services are now being utilised by over 35,000 companies, which collectively processed €100M (£87.6 million approx.) last year. Co-founded by Pierre Dutaret, Jeremy Attuil and Pierre-Antoine Glandier, the company has a lot going on.
Simplifying B2B SME payments
Libeo handles the entire B2B payments process in a digital and secure manner. It offers a platform that’s capable of automating invoice collection, team approval and one-click payments, without requiring any manual input or need for IBAN numbers. Libeo tries to solve the possible data entry errors, fraud and late payments that could result due to an inefficient system.
“My co-founders Jeremy Attuil and Pierre-Antoine Glandier and I started Libeo to free business owners from time-consuming and cumbersome admin tasks. They can get started with Libeo in a matter of seconds, and save a huge amount of time by paying their suppliers in one click, whatever the bank or payment terms they wish to use. We are dedicated to supporting business owners and we feel our mission has never been more important than in the current context,” says Pierre Dutaret, CEO and co-founder of Libeo.
Libeo plans to expand its services in the UK so it can serve UK-based clients. Read the full UKTN Interview and keep an eye out on Inside Fintech Jobs for future job openings.
Originally seen on UKTN (UK Tech News) Source
