France-based Aria, which offers embedded invoice financing, has reportedly collected €50m in a debt fundraising round from M&G Investments.
The capital will bolster the company’s financial capacity and accelerate its business development through new products, according to a report from FinTech Finance News. It stated that the funds will help Aria finance invoices of freelancers and SMEs.
In addition to this, the France-based FinTech company hopes to hire 15 new people for its team.
Aria, which offers its services via APIs, helps vendors get paid instantly through payment loans for payable invoices. These short-term loans can have repayment terms of 30, 45 or 60 days.
It claims to have increased its business volume by 2-times over the past 12 months and has exceeded the £100m milestone in terms of financing supplied to clients.
Aria co-founder and CEO Clément Carrier said, “We founded Aria with the ambition to give all businesses access to financing solutions. And this, regardless of the economic situation in which they find themselves.
“We are therefore offering the possibility for freelancers and small businesses to be paid instantly and directly using the tools and services they use on a daily basis. This funding will strengthen Aria’s position while giving us the means to continue our growth on a European scale. We are delighted to see the confidence and interest of a leading European investor like M&G Investments in our business.”
Another invoice financing platform to recently raise capital was Tranch. The company, which raised $100m in a mixture of seed equity and debt funding, provides businesses with a BNPL service.
Through the solution, suppliers can get paid upfront for their goods, and the customer can settle the invoice over various repayment time periods.
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