Paris based Upflow, the payment startup which helps users track the pending invoices and get their payments on time has announced securing $2.7 million in a Seed round funding. The investment has come from Kima Ventures, eFounders, and a few undisclosed business angels.
Prior to this round, the firm had picked up an undisclosed sum as part of the pre-Seed financing. The company was founded in 2018 by Alexandre Louisy and Thibaud Elziere to solve this massive problem of non-tech B2B businesses in Europe. It simply helps them get paid faster through their fully-fledged payment platform. It can be integrated with billing software such as QuickBooks as well.
The company's platform sits between the bank accounts of both the customer and the user. Once an invoice email is sent to the customers, the same can be done through the interface of Upflow which goes to everyone involved in the sales team. Once the payment arrives, Upflow marks it paid and transfers the money to the bank account of the users instantly. The firm counts the likes of Frichti and Popchef, Yumi organic juice, and High Flyers agency among its customers and is targeting to get to 500 customers first.
Alexandre Louisy, the co-founder of the firm talking about Upflow said, "Our customers are companies with around 5 million euros in turnover, which have a large volume of small bills, such as caterers or distributors, or consulting and recruitment firms that need to perform relevant reminders, taking into account the commercial context, a call for tenders in progress, for example."
So, if your client is not making timely payments, connect with Upflow and see if this French startup can help you out.