Fintech startup Billfront announced that it has raised $33 million in a Series A funding round in both equity and debt funding from NIBC Bank, 4Finance, and the FinLeap incubator.
The company plans to utilize the funds to expand its operations in order to continue the development of its proprietary technology and the acquisition of new talent.
According to the release, the funding round backers include 4finance, a provider of online and mobile financing solutions to consumers, NIBC Bank Deutschland, a provider of structured finance solutions in Europe, as well as existing investor FinLeap.
Co-founded in 2015, Billfront uses technology that is based on data-driven risk management methodology. This methodology connects directly to media companies’ invoicing systems and automatically suggests eligible invoices for financing. The company works with corporate clients within the digital media space like advertising agencies, ad exchanges, networks, and publishers.
