Welcome to the BlackFin Tech family, Likvido!
Today, we are pleased to announce our 9th investment (and second Danish deal!): Likvido.
Based out of the busy Copenhagen, Likvido provides an SME-dedicated platform to automate dunning and significantly improve the collection rate of overdue invoices. Because cash is the lifeline of all SMEs, Likvido is setting out on a mission to support them in growing their business without fearing to go bankrupt every other month.
Max and Lars — the founders — built a great sales machine, which, coupled with a wonderful and slick product, has already convinced more than 2000 companies. And this is only the beginning!
We are proud to lead this seed round of 2.5m euros to support their early growth and their vision to become the SME’s right-hand man.
As it often happens, the idea and vision around Likvido were born out of personal frustration. In this case not only frustration but failure. Max and Lars did, in fact, go bankrupt during an earlier journey as startupers. The reason? You guessed right! Unpaid invoices impacting their cash position. But thankfully there is always a silver lining to a cloud. Or a massive thunderstorm in their case to be more accurate perhaps.
This, coupled with our strong belief around the vast improvements of tools for the SME segment (see also our investment in Agicap as well as our predictions for the 2020 fintech trends) made our decision to invest in Likvido a no-brainer.
This round of funding will enable Likvido to become the undisputed market leader on its home turf of Denmark, build new features (sorry no spoilers, you’ll have to just wait for them), and launch in a new market!
We are confident that this kind of service will substantially improve SMEs’ financial health and the peace of mind of their CFOs. We believe that Max, Lars, and their team have all it takes to become the clear leader in Europe in the years to come. We’re proud and grateful they chose us to assist them on the way there.
Again, congratulations guys on what you achieved so far! We are excited to support you in this adventure going forward!
