Billie, a Berlin, Germany-based factoring startup, raised €10m in Series A funding.
The round was led by Creandum with participation from existing investors Rocket Internet, Speedinvest, Avala Capital and Picus Capital.
The company intends to use the funds to continue to develop the platform and expand its business reach.
Co-founded by Christian Grobe and Matthias Knecht, Billie provides SMEs with a technology platform to advance payments for their outstanding invoices.
The solution leverages big data analytics, digitalized processes and a tech platform to provide small businesses with financing products against their open invoices, with no hidden fees, no paperwork, and no bank branches involved.