Crezco, which claims to be the UK’s first open banking payment solution aimed at b2b invoice payments, has netted £3m in its seed round.
The investment was backed by several angel investors, including Comply Advantage founder and CEO Charles Delingpole, Outrun Ventures managing partner Chris Adelsbach and others.
With the funding, Crezco is looking to bolster its team growth and foster the international expansion of its platform. Furthermore, the company hopes to release new products.
The FinTech company, which was founded in 2020 by former Ralph Rogge and Igor Pikovsky, helps SMEs across the UK and Europe to streamline their invoice payments. To support this, it is currently partnered with Xero, QuickBooks and other B2B platforms.
It claims to be the UK’s first open banking payment solution aimed at improving B2B invoices, with the aim to make them as easy as a B2C card payment.
Crezco co-founder and CEO Ralph Rogge said, “We’re delighted to announce our £3M seed fundraise with support from well-respected names in the Fintech space. Compared to typical software companies, FinTech hasn’t historically scaled at zero marginal cost. Open banking solves this paradox.
“We provide a free online payment solution in the same manner WhatsApp provides free online messaging to replace cellular SMS messages. Simply, we leverage open banking to increase convenience and reduce costs.”
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