Dutch fintech GoDutch, founded by serial entrepreneur Thomas Vles, has raised a pre-seed funding round of €1.2 million. Reputable founders of Dutch neobanks such as René Frijters and Mike de Boer (Knab) and Bart Wesselink (former COO and CFO of bunq) provided half of the investment. A group of early GoDutch users raised the other half of the money.
GoDutch provides an advanced account for business users, with a particular emphasis on small and medium-sized enterprises (SMEs) that operate as a private limited company (BV). GoDutch is also accessible to self-employed individuals, foundations, and other business entities that encounter challenges in obtaining a business account. After a quick online application, their local IBAN becomes active within merely three hours.
Becoming the bank for entrepreneurs
Vles founded GoDutch to solve a problem he encountered as a serial-entrepreneur himself, over and over again. “All banks say they put the customer first, that they are responsive, and that you can instantly open an account. Nonetheless, making a promise and keeping it are two entirely different things. We are determined to become the bank for and by ambitious entrepreneurs that truly embraces innovation, speed, and service.”
AI team expense management
Time-consuming administrative tasks are a thing of the past with GoDutch. Receipts are easily uploaded via app or forwarded via email and automatically linked to the correct transaction via artificial intelligence.
The smart payment account accurately detects when a payment has been made and will automatically retrieve missing invoices from employees. More advanced features will be added over time and in the near future, like the ability to apply for loans with just one click or to have incoming bills processed and paid automatically.
Save time and money
This smart GoDutch account saves a lot of time for both the business owner and his or her controller or accountant. All the major accounting programs in the Netherlands can be linked to the account, and the payment data will automatically be enriched with additional data such as VAT, general ledger accounts and documents. For software outside the Netherlands, transactions can be uploaded via Open Banking connections. Accountants and financial controllers will free up to 70% of their time because they won't have to do any reconciliation.
In addition to the smart account, GoDutch offers its customers a service that other neobanks overlook: phone, email, and chat support in their local language. Every user is furthermore assigned an account manager who helps the business owner with any urgent questions that may arise.
Powerful team
Mike de Boer (founder Knab) of Quantum Leap Capital, which led the investment round, joins GoDutch's Supervisory Board as chairman, alongside Krik Gunning (founder and CEO Fourthline) and Daniel Gebler (CTO Picnic).
De Boer: “GoDutch is an excellent choice for entrepreneurs with a limited company who want to quickly open a business account that makes their workday easier. The fact that you can open an account in just three hours makes it stand out, and as investors, we were quite impressed by Thomas Vles's drive to succeed. In a short amount of time, he gathered a formidable group of advisers, investors, and users. With this investment, GoDutch is prepared to grow even further to position itself as the go-to bank for entrepreneurs in the Netherlands.”