Digital media start-up BillFront bags $35m in Series A funding
Finance will be used to fuel ongoing expansion, invest in technology and grow its talent base
BillFront, the digital media start-up, has secured a $35m Series A funding round from 4finance, NIBC Bank and existing investor FinLeap.
Founded in 2015, London-based BillFront connects directly with companies’ invoicing systems and suggests eligible invoices for financing, helping them to access working capital faster.
With the media industry still suffering from long payment terms offered by many media buyers, which restricts growth, the company allows firms to offer short-term payment to their suppliers.
BillFront counts advertising agencies, publishers and app developers around the world as clients including advertising technology (adtech) business DynAdmic.
The funding will be used to finance the platform’s ongoing expansion, support its growing customer base, develop its technology and acquire talent.
Christopher Vogt, BillFront co-founder, said: “There is a clear need for growth capital within adtech, 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, CEO of NIBC Bank Deutschlands, commented: “BillFront’s expertise within the fast growing adtech market, combined with their excellent tech-enabled risk methodology, convinced us to start a partnership with an international fintech for the first time.”