Apron, a transformative payment platform targeting small businesses, is primed to revolutionise business payments. Focused on resolving the time-consuming and complex supplier payment process, the platform offers an efficient and innovative solution.
Apron recently announced that it has successfully raised $5.5m in venture funding. The lead investor in the funding round was Bessemer Venture Partners, with contributions from Visionaries Club and the founders of Melio and Klarna.
Firmly dedicated to redefining business payments, Apron is designed to drastically simplify and speed up invoice management. By offering tools to handle invoices, batch pay suppliers, smooth out approvals and automatically reconcile, the platform enables businesses to focus on their core operations rather than administrative tasks.
Notably, the platform integrates seamlessly with existing workflows and accounting software, eliminating the need for additional reconciliation.
Apron plans to use the newly acquired funding to expand its team, product and market reach. The platform aims to double down on growth and product innovation, focusing on securing its position as a leader in the UK before launching into other parts of Europe.
Apron’s long-term vision includes transforming into an end-to-end accounts payable solution, enhancing every aspect of small business spending, from bill payments to payroll and employee expenses.
Despite being UK-based, Apron covers over 150 countries and 30 currencies, offering a truly global payment solution for small businesses. It employs the mid-market exchange rate to ensure fair transactions and is committed to a transparent fee structure without hidden charges.
Bessemer Venture Partners Vice President Ariel Sterman said, “We are thrilled to be supporting Apron in their mission to revolutionise payments for small businesses. With roots in building world-class consumer experiences and a deep expertise in financial infrastructure, Apron is transforming a critical pain point for small businesses across Europe.
“We are already seeing the impact Apron is having on the market as their seamless integrations and delightful payment workflows unlock precious time, resources and cash-flow for the SMB backbone of the economy.”
Keep up with all the latest FinTech news here
Copyright © 2023 FinTech Global
