Digital media-focused invoice financing startup BillFront has picked up $35m in a Series A round.
The funding is described as a combination of debt and equity and comes from 4finance, NIBC Bank Deutschland and existing backer FinLeap.
The firm’s technology connects directly with media companies’ invoicing systems and uses data-driven risk management technology to suggest invoices eligible for financing.
BillFront specifically targets the digital media space where companies still suffer from long payment terms.
Its clients include ad agencies, ad-exchanges, networks, publishers and app developers.
The Berlin-based company also operates an office in London and will use the funding to continue its product development and make new hires to the team.
BillFront co-founder and managing director Christopher Vogt said, “There is a clear need for growth capital within ad-tech, 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.”
The company previously picked up a €1.2m seed round in July 2015 and is part of the Berlin-based FinLeap accelerator.
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