Libeo Series-A

This is the Libeo pitch deck to raise a $24m series-a round in 2021.

About

Libeo is a unique platform to collect, manage and pay all your supplier invoices. Without IBAN and in one click.

We are reinventing how companies pay and connect with their business partners. No more hours spent manually entering invoices, answering angry reminder emails from suppliers and owing fees for late payments.

* Automated invoice entry, bulk or individual uploads. * Payments of supplier invoices, one clic no IBAN. * Teamwork: personalized approval workflow, on-the-go notifications. * Your finances in real time with consolidated financial indicators.

Libeo is supported by the Ordre des Experts-Comptables of Ile-de-France, La Banque Postale, La Société Générale, La French Tech, Wilco, Finance Innovation and BNP Paribas.

French fintech startup Libeo has raised its third funding round in 15 months, as it looks to help small- to medium-sized businesses pay their invoices digitally.

The company. founded in late 2019, just brought in €20 million ($24 million) in fresh venture capital funding in a round led by partners at DST Global, also a backer of Twitter and Revolut. The number of business-to-business payments processed by Libeo increased thirty-fold and reached €100 million in 2020, according to the startup’s cofounder and CEO Pierre Dutaret.

With the pandemic, growing the business hasn’t always been easy.

“We had good growth during the first couple of months of 2020 but that fell apart during the first lockdown in France,” Dutaret told Insider. “The world was falling apart, SME business owners didn’t know what was going to happen and shut down everything, they stopped paying suppliers and stopped automated debits.”

“By May and June, we saw a huge increase in demand because what was on the agenda in terms of digitizing processes for years was no longer a matter of when it was right now.”

Libeo estimates that across Europe some 35 billion invoices are created each year but approximately 77% of small businesses omit to use digital payments options to manage them. The startup is now working with 35,000 companies which can sign up through Libeo’s API.

The market is on the up, with the EU making electronic 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 problem has created a strong appetite for Libeo,” Dutaret said. “We had five to 10 VC investors calling or emailing every day in Q3 and Q4, initially we didn’t need to raise but we wanted to add as much smart money as possible.”

Libeo will use the funding to scale its API across Europe including the UK in the coming months. The startup is also looking to boost its current 20-person team to 100 or more in the next 12 to 18 months.

Funding Rounds

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