Member Article

FinTech firm BillFront raises eight-figure Series A

London and Berlin-based alternative finance company, BillFront, which gives media companies faster access to their revenues, has closed its Series A funding round.

The FinTech firm, which was founded by former JP Morgan executive Greg Dimitriou and Christopher Vogt, has raised £27m from investors 4finance, NIBC Bank and existing backer FinLeap to expand its finance platform and attract even more digital media businesses.

Targeted at advertising agencies, app developers and other digital companies, BillFront allows clients to feed in invoices to the startup’s platform, which uses to data-drive risk management to identify eligible invoices and suggest financing options.

It is yet another platform offering small businesses flexible financing based on invoices, particularly crucial in industries such as media buying where long payment terms can often tie up finances and hamper long-term growth.

BillFront Co-Founder and Managing Director Vogt said: “There is a clear need for growth capital within ad-tech, and our solution provides an attractive alternative to expensive equity capital on one hand, and often inflexible debt financings on the other.

“And, we make requesting funds through our platform so seamless that our clients can focus more on their core business.”

Thom Rasser, Chief Executive Officer of NIBC Bank Deutschlands, added: “BillFront’s expertise within the fast growing ad-tech market, combined with their excellent tech-enabled risk methodology, convinced us to start a partnership with an international fintech for the first time.”