LocalGlobe leads €4m round for Libeo

The round also saw participation from existing investor Breega and several business angels.

The company intends to use the financing to accelerate the deployment of its platform, develop new features and scale up its team.

With this last funding round, the company will be able to make its network available to all companies by launching a standard offer that gives free access to the platform's main functionality, while its premium offer, starting at €25 per month, will allow for a more automated control of invoices.

Previous funding
Breega, BPI France and some private investors injected €2m into Libeo in a seed funding round in November 2019.

Company
Founded in 2019 and headquartered in Paris, Libeo is a fintech startup specialising in invoice payments for company managers and accountants. It has developed a software-as-a-service business payment management platform enabling companies to centralise and manage supplier invoices using an email account, without entering an IBAN.

Libeo's customer base includes 5,000 companies operating in various sectors such as consulting, hospitality and retail, including Le Faucheur Avocats, Hôtel Annapurna, La Clinique des Champs Elysées, Victor & Charly, Monoprix (franchise) and Paname Collections. Nearly €2m in payments are currently made annually via the platform, and the company expects this figure to increase to €30m by 2021.

People
LocalGlobe – George Henry (general partner). 
Breega –  Isabelle Gallo (partner).
Libeo – Pierre Dutaret (co-founder, CEO); Jeremy Attuil, Pierre-Antoine Glandier (co-founders).

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