Billie, which helps companies get paid for outstanding invoices immediately, has reportedly collected €30m in Series B funding.
The round was backed by investors including Creandum, SpeedInvest, GFC, and Picus, according to a number of reports in the media.
With this burst of equity, the company hopes to release new solutions which will be targeted towards the buyer side of B2B transactions and will support the payable processes, the reports state.
Billie, based in Germany, pays outstanding bills instantly starting at a 0.7 per cent one-time fee of the invoice amount. Businesses can access quick financing of up to €200,000 within seven minutes, the company claims.
It works with a company simply uploading their invoices and they can receive the funds without the need of any minimum sales or contract commitment.
N26, a fellow German FinTech company, recently increased its Series D round to $470m. The round also increased the challenger bank’s valuation up from $2.7bn to $3.5bn.
The German FinTech market has been growing steadily since 2014, increasing from $142.9m to $824.8m, FinTech Global data shows. This growth has continued into 2019. The first quarter of the year witnessed $793.6m invested into Germany’s FinTech space, and Bilie’s funding round combined with N26’s increased Series D, puts the year’s sum $169m above the whole of 2018.