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We got an exclusive look at the pitch deck that French fintech Libeo used to raise $24 million from DST International

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We got an exclusive look at the pitch deck that French fintech Libeo used to raise $24 million from DST International

French fintech startup Libeo has raised its third funding spherical in 15 months, because it looks to relief runt- to medium-sized agencies pay their invoices digitally. 

The company. founded in late 2019, right brought in €20 million ($24 million) in unique enterprise capital funding in a spherical led by DST International, moreover a backer of Twitter and Revolut. The alternative of business-to-industrial funds processed by Libeo increased thirty-fold and reached €100 million in 2020, in accordance to the startup’s cofounder and CEO Pierre Dutaret.

Early Newspaper

With the pandemic, rising the industrial hasn’t constantly been easy.

“We had factual enhance true via first couple of months of 2020 however that fell apart true via the first lockdown in France,” Dutaret told Insider. “The world was falling apart, SME industrial owners did not know what was going to happen and shut down all the issues, they stopped paying suppliers and stopped automated debits.” 

“By Might perhaps per chance perhaps also honest and June we saw a gigantic enhance in demand on anecdote of what was on the agenda by means of digitizing processes for years was no longer a matter of when, it was appropriate now.”

Libeo estimates that across Europe some 35 billion invoices are created annually however approximately 77% of runt agencies omit to use digital funds alternatives to manage them. The startup is now working with 35,000 companies which can signal in via Libeo’s API. 

The market is on the up, with the EU making digital invoice issuing and processing mandatory by 2023.

Libeo, which previously raised €6 million ($7.2 million) in funding rounds from Breega and LocalGlobe, says it had high investor demand for this deal.

“The lack of competitors in Europe and the size of the market plus the size of the boom has created a true accelerate for food for Libeo,” Dutaret acknowledged. “We had 5 to 10 VC investors calling or emailing on each day foundation in Q3 and Q4, in the starting place we did not want to raise however we wanted to add as unheard of tidy money as imaginable.”

Libeo will use the funding to scale its API across Europe together with the UK in the coming months. The startup is moreover looking to enhance its latest 20-person team to 100 or extra in the subsequent 12 to 18 months. 

Test out Libeo’s pitch deck beneath:

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Libeo pitch deck

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Libeo pitch deck

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We got an exclusive look at the pitch deck that French fintech Libeo used to raise $24 million from DST International