Libeo, a Paris, France-based provider of a that simplifies the management and payment of invoices for SMEs, raised €4m in funding.
The round was led by LocalGlobe, with participation from existing investor Breega and angels.
The company intends to use the funds to accelerate the deployment of its solution.
Co-founded by Pierre Dutaret, Jeremy Attuil and Pierre-Antoine Glandier, Libeo provides a solution for company managers and accountants to automate the management of their invoices in four stages: – instant dematerialization of invoices; – centralization in a single platform and team validation; – regulation without entering IBAN, using an email account; and – real-time monitoring of cash.
Today, over 5,000 companies use the Libeo system to manage their invoices, in various sectors such as consulting, hotel and catering and distribution, with nearly €2m in payments made via the platform, with expectations to increase to €30m in 2021.
The customer list includes Le Faucheur Avocats, Hôtel Annapurna, la Clinique des Champs Elysées, Victor & Charly, Monoprix (franchise) and Paname Collections.