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 specially 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 partners of 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. UKTN finds out more about what makes the startup lucrative in an exclusive interview with George Henry, which is the General Partner at LocalGlobe.
Why Libeo?
Libeo seems like a standard fintech trying to make it big in the startup world. Excluding the latest funding round, the fintech has raised a total funding of €6.1 million (£5.3 million approx.). So, what did LocalGlobe find interesting in Libeo? ...