Invoice management and factoring platform targets Q4 for capital raise, CEO says
InvoiNet, a cloud-based corporate finance service provider, is hoping to raise a fresh round of venture capital later this year, chief executive Pablo Sanucci has told iupana.
The Argentina-based startup is targeting a $20 million Series B round in the fourth quarter, Sanucci said.
“It’s a big challenge in Latin America. Any capital raising is difficult, but Series A can be done. Series B is much harder.”
InvoiNet is a platform that helps large corporates manage client billing, processing around a million invoices each month. Additionally, it offers a marketplace for creditor financing through factoring.
The Series B capital injection will drive further expansion of the company, particularly into Andean countries where electronic invoicing is picking up, Sanucci said.
The capital raise would follow InvoiNet’s Series A round in 2015. IFC, part of the World Bank group, participated in that round with a $4 million equity stake. The Accion Frontier Inclusion Fund, a global fintech-focused investor, also participated in the Series A financing.
The Series A funds were destined to help InvoiNet’s expansion into Brazil and Mexico, as well as to allow it to consolidate in its native Argentina.
New fund for digital factoring
Also on the cards for 2018 is a new fund to invest in some of the factoring operations on offer on the InvoiNet marketplace, said Sanucci. The company is working with some of its existing backers, as well as new ones, to set up an investment fund that will finance receivables over the platform.
“We’re working on building a funding vehicle, a fund of our own, to accelerate growth. We’re working with existing investors as well as new ones to accelerate growth of the financing operations.”
Sanucci discusses the growth and development of Invoinet in the latest iupana conversa podcast, available now in Spanish. He also shares his views on the advances, challenges and future of fintech in Argentina. Listen to it through the player above, in iTunes, or search for “iupana” on your preferred podcast player.
El vicepresidente de política regulatoria sobre la regulación de tecnología financiera en México
Los riesgos – o no – de innnovación tecnológica en servicios financieros
PODCAST: Cómo emprender en un país de alto crimen, hiperinflación y una fuga de talentos?
PODCAST: Sebastián Serrano, CEO de Ripio, sobre las finanzas del futuro
PODCAST: Las posibilidades reducir costos regulatorios con blockchain
- Andrés Vásquez, Bancolombia, sobre la banca digital Nequi
- Sebastián Serrano, Ripio, sobre el futuro de blockchain y contratos inteligentes
- Peruana Latin Fintech busca expansión doméstica, internacional
- Atilana Piñón de CityWallet, sobre micropagos, blockchain y Venezuela
- Artificial intelligence in banking: three elements for success
- Eduardo Guraieb, de Fintech México, sobre la nueva Ley Fintech