German invoice financing startup Bezahlt has picked up ?3.5m in funding through a mixture of equity and debt.
The company investors include Point Nine Capital, Fly.vc, German Startup Group and La Famiglia as well as angel backers.
Bezahlt aims to provide invoice financing to self-employed workers, freelancers and SMEs.
It claims the German market alone was worth more than ?200bn in transactions last year.
The company technology is designed to automate the scoring process that goes in to approving companies for financing in order to reduce costs and enable it to accept invoices for as little as ?1.
Bezahlt was founded by Sebastian Diemer who previously set up lending company Kreditech, which has raised more than $150m to date.
The company is monetised by charging a 2.3% to 3.3% monthly fee on the amount a company or individual has invoiced.
Copyright ? 2016 FINTECH GLOBAL
