Dutch startup Finturi secures $2.2 million for its blockchain-based invoice finance platform

In Europe, even though small and medium-sized enterprises (SMEs) generate about two-thirds of overall employment and 62.9% of value added in the non-financial business economy, it is often difficult for SMEs to raise working capital. A lack of equity or failure to provide substantial financial information often forms the most important constraint for attracting bank finance. Traditional methods of alternate financing like invoice factoring are expensive, time-consuming, and not user-friendly. These are the problems Finturi, a Hague, Netherlands-based fintech startup is aiming to solve using artificial intelligence and blockchain technology.

Today, Finturi announced it has secured $2.2 million (€2 million) angel investment to accelerate product development and grow its trusted blockchain based invoice financing platform. The round was led by NetSam Participaties BV. This platform is scheduled to be launched in the third quarter of this year.

Founded in September 2018, Finturi is a fintech startup based out of the Hague in the Netherlands. Finturi is led by CEO, Johannes Brouwer. Finturi is backed by experienced team of 12 members including blockchain developers, product experts, data scientists, domain experts, seasoned marketing professionals, and growth hackers who have built award-winning blockchain products for the Fintech industry in the past. Finturi aims to help businesses finance invoices by linking them with financiers to borrow money against invoices, using blockchain and artificial intelligence (AI). It uses artificial intelligence and blockchain to make invoice financing easy, quick, low-cost and secure.

Johannes, Finturi CEO, has over four decades of experience in building and growing businesses and is backed by Johan Mastenbroek, Investor and Entrepreneur, who has multiple companies like EBPI, 216 etc. under his portfolio. When fully functional, Finturi platform will be completely peer-to-peer and will include clients of businesses as well.

Johannes Brouwer, CEO Finturi said, “Even though small and medium enterprises contribute significantly to the economy, it is often challenging for them to raise working capital. The newer the business, the higher the difficulty it faces to raise working capital. We want to solve this problem. We want to build a robust product that enables businesses to get a loan against invoices within 24 hours. We want to provide financiers with a platform for investing in invoices with minimum hassle”.

The lead investor from NetSam Participaties BV who recently exited a SaaS company said, “Blockchain technology combined with Artificial Intelligence has a massive potential of eliminating inefficiencies in the current financial processes. It can save costs as well as make processes faster and secure. I am extremely happy to see that one of our portfolio companies is leading the blockchain revolution. We are confident in Finturi’s team and are sure that this investment will drive Finturi to innovate further and be world’s leading invoice finance platform”.