Fundflow, a Berlin, Germany-based online factoring platform, received seed funding from High-Tech Gründerfonds (HTGF).
The amount of the deal was not disclosed.
The company will use the funds to further improve their product and expand their business.
Founded in January 2016 by Antonio Faralli, Jan Ramsperger and Joachim Kaune. Led by Joachim Kaune, Managing Director, Fundflow buys accounts receivable from small companies and freelancers, enabling them to cover short-term liquidity gaps. The holders of said claims can sell them directly on the platform www.fundflow.de and receive their money on the next working day, minus a fee that is calculated depending on the debtor and payment deadline. Known as factoring, this option has so far primarily been adopted by major companies. However, Fundflow is now offering a factoring service to small firms and freelancers as well.
All transactions are processed by Wirecard Bank, the company’s banking partner.
FinSMEs
13/10/2016