This post is part of our live coverage of FinovateEurope 2015.
is up next, demonstrating its free electronic invoice distribution platform for banks.
We learned that banks need a white-label version of the InvoiceSharing platform for five reasons:
- Reduce cost of capital (cost of unused lines of credit)
- Bring added value to clients and upsell more
- Distribute cash to companies in a new way
- Split transactions and services provided to customers
- Prove that banks do not over-credit companies
We are launching the first white-label version for banks to capture all the data they need to achieve these goals. Capturing all data from incoming and outgoing invoices and combining it with payment data and data from the company’s clients systems allows banks to lend more money with less risk at lower costs.
Presenter: CEO Jeroen Volk; VP of Business Development Stephen van Stek
Product launch: February 2014
Product distribution strategy: Through financial institutions, through other fintech companies and platforms, licensed
HQ: Rotterdam, The Netherlands
Metrics: €2 million raised; growing 15% month on month with invoice volume in euros; 10 employees; deal with first bank for white label