Stockholm-based fintech company Invoier, which has built a marketplace for the trading of invoices, said it has secured a 4.1 million euros equity funding by EUâs innovation organization, the European Innovation Council (EIC) Fund.
The marketplace is built on a unique AI-based risk assessment method, making it possible forÂ professional investors to enter a new asset class and bid in real-time, aiming to challenge the 3 billion euros factoring market.
âI am glad to announce the EIC Fund support to this disruptive company aiming at creating new strategies to improve SMEs competitiveness. Thanks to a cutting-edge tool, Invoier enables a more focused and accurate risk assessment.âStÃ©phane Ouaki, Head of the European Innovation Council (EIC) department and Chair of the Investment Committee of the EIC Fund
The parties will jointly address the European market and successively continue the expansion towards a fair and transparent global factoring spot market, based on advanced risk prediction. The ambition is to empower European SMEs, making them more competitive, improving their possibilities to grow and in turn providing new job opportunities.
“Small and medium-sized enterprises are the core of the European economy, constituting more than 25 millionFredrik Mistander, CEO and Co-founder, Invoier
companies and accounting for over two-thirds of the workforce. Making sure these companies have fair
opportunities affect millions of people and we are more than pleased to have the opportunity to contribute in
Established in June 2020, the European Innovation Council Fund (EIC Fund) is an initiative of the European Commission to make direct equity and quasi-equity investments (between â¬500.000 and â¬15 million) in European high impact, deep tech startups.