Solvimon, an emerging name in the FinTech sector, has successfully closed a significant seed funding round.
The company, specialising in modern billing solutions, announced raising €9m. This investment round was led by Northzone, a renowned venture capital fund, along with contributions from select business angels.
Solvimon is pioneering the billing industry with its advanced platform. Co-founded by former Adyen executives Kim Verkooij and Etienne Gerts, the company is designed to aid mid to large businesses in adopting and operationalising modern pricing strategies. This includes usage-based models, where customers are billed based on consumption, and hybrid models blending usage-based and traditional subscription approaches.
The seed capital will primarily be utilised for team expansion and to accelerate market penetration.
Solvimon’s dedication to simplifying and automating billing processes positions it as a game-changer in the FinTech world. Its low-code, real-time platform enables businesses to implement diverse pricing models easily, oversee invoices in real-time, and glean insights into product usage. This comprehensive approach sets Solvimon apart from competitors by managing the entire monetisation process, from sales to revenue reporting.
Solvimon’s launch comes at a time when the shift from user-based to usage-based billing is gaining momentum. Research indicates that this transition is complex and requires significant cross-functional transformation. Solvimon addresses these challenges, providing a solution that mitigates revenue leakage and reduces manual error rectification, a common issue in traditional billing systems.
Kim Verkooij, co-founder and CEO of Solvimon, emphasised the urgency of their mission: “While there has been innovation in pricing and metering solutions, businesses are still underserved. Their options are patching together point solutions or entering the expensive and time-consuming process of building a homegrown billing solution. There is a clear need for a flexible, yet end-to-end billing platform. We’re really happy to be partnering with the Northzone team. They have studied the space deeply and understand the scale and urgency of the problem we’re solving. Their conviction meant that we could close the round in just two weeks and get back to building the business.”
Michiel Kotting, a partner at Northzone, also shared his insights: “Having previously built Adyen’s complex internal billing engine, Kim and Etienne bring a wealth of unique insights and a deep understanding of the complexity of pricing for larger companies which are increasingly adopting hybrid business models. Billing and pricing software are mission-critical, and there is a strong need for a sophisticated end-to-end solution with a breadth of functionality.”
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