Bavaria Capital has raised seed funding in Bilendo invested. The Munich-based startup offers companies an invoicing platform as software-as-a-service (SaaS) to optimize and automate dunning processes.
In addition to Bayern Kapital, the Commerzbank subsidiary main incubator participated in the financing round as lead investor. This funding is intended to drive the young company's further growth.
Many companies have outstanding invoices that need to be tracked and dunned. To enable companies to manage their receivables in a coordinated and controlled manner, the Munich-based founders have developed an online platform for dunning. Once a company has issued an invoice, Bilendo handles the entire accounts receivable management process – from sending the invoice to managing the receivables to monitoring receipt of payment.
Bilendo is invisible to the invoice recipient. Incoming and outgoing payments can be easily reconciled, documented, and tracked. The platform is compatible with various invoicing systems and, thanks to multi-bank access, supports numerous bank accounts in Germany and Austria. Through full automation, the startup claims to reduce the time spent on accounts receivable management by up to 90 percent.
The young company was founded in April 2015 by Markus Haggenmiller, Jakob Beyer and Florian Kappert in Munich.
"With Bayern Kapital and main incubator, we have partners with extensive industry expertise and know-how at our sideWe hope to use the capital from this financing round to drive Bilendo's growth. We very much look forward to our future collaboration,"
says Markus Haggenmiller, Managing Director of Bilendo.
"The founders’ business idea and technological expertise convinced us of Bilendo"We see demand from companies for intelligent and simple software to optimize their accounts receivable management. Bilendo operates in a highly exciting and promising market. We want to support the company's successful development with our commitment."
justified Roman Huber, Managing Director of Bayern Kapital, the decision to finance the startup company.
