French startup Upflow has raised one $15 million Series Another round. The company wants to aid chase late payments. Them optimizes how you collect money from your customers in order to the cash-cycle.
Of several in today’s funding big round include 9yards Capital, pre-existing investor eFounders, as well as N26 co-founder Maximilian Tayenthal, Best SVP of Delivery Pierre-Dimitri Gore-Coty, auxmoney co-founder moreover CEO Raffael Johnen.
People who run a business enterprise often tell you that gaining paid is a consuming approach. When you create an monthly bill, chances are your customer is likely to wait a few weeks before wasting you. Most companies end up with your backlog of outstanding bills sitting in an Excel spreadsheet.
They keep an eye on their savings account to manually reconcile many of those payments. And, of course , they can have to send an email also known as call a customer to tell them this description now is the time.
Upflow acts as the in the heart of repository to see all your invoices, track payments, communicate with your company team and send simple guidelines. But Upflow doesn’t in order to replace your existing technology. Instead, the company has built integrations with popular business solutions that you’re already associated with.
For instance, fight connect your Upflow amount of with QuickBooks, Xero, Netsuite, Chargebee and Stripe Medical billing. You can charge your consumer from your existing invoicing technique. Upflow imports your bills, clients and payments. Whenever you are Upflow notices a recent payment, you receive a notification that can start sending automated or personalized emails.
The startup also is certain current B2B payment options are outdated. In the Ough. S., too many companies remains rely on paper checks. Here in France, copying IBAN advice from an email to your bank can be cumbersome.
When you send an payment using Upflow, customers acquire a link with several payments methods. You can connect all of your Upflow account with Strip Payments to enable card arrangements for instance. And the startup is considered to be slowly building a network associated with companies that have used Upflow at some point. 1 . 5 huge number of companies have interacted by the product — it delivers over $1 billion in repayment demands.
“We need treatment on a mission to revolutionize like companies get paid. At Upflow, we provide a solution that provides connectivity and clarity with a company’s payment and invoicing stack. Where systems was previously closed and dettached, Upflow’s platform enables tender and clear processes, ” co-founder and CEO Alexandre Louisy said in a question.
With the funding round, the company plans and blueprints to expand to the O. S. Upflow already displays few customers there, reminiscent of Lattice, Front and Adikteev, but it’s just a kick off point. The startup will even open an office in New York.