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Invoice management startup Libeo raises $20 million

Invoice management startup Libeo raises $20 million

Libeo, a European fintech that simplifies the management and payment of supplier invoices by connecting companies to each other directly, has raised €20 million in funding in less than a year after completing a €4 million seed round.

Over the past year, the number of B2B payments processed by the company has been multiplied by 30 to €100 million annualy from more than 35,000 onboarded companies.

The €20 million funding round includes investments from the partners of DST Global, Serena, LocalGlobe and Breega joined by business angels including founders and C-level executives of Transferwise, iZettle, Klarna, Farfetch, Criteo.

The Libeo platform enables automated invoice collection, team approval and one-click payments without any manual input or need for Iban numbers and banking interface

The new funding, its third since inception in 2019, comes as Libeo introduces a new API service, which allows corporate partners such as QuickBooks to embed its accounting software directly into the interface.

The fast-growing fintech plans to triple its workforce to more than 100 employees by year end.

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