LocalGlobe et al. invest in €20m series-A for Libeo

Libeo plans to use the fresh capital to further develop its B2B payment service, fuel its expansion across Europe and scale up its team to more than 100 employees.

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

UK-based venture capital house LocalGlobe led a €4m funding round for the company in April 2020. The investment also saw participation from existing investor Breega and several business angels.

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
Libeo – Pierre Dutaret (co-founder, CEO); Jeremy Attuil, Pierre-Antoine Glandier (co-founders).

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