In a significant milestone, Apron, a London-based fintech company, has secured $15 million in Series A funding, aptly named “Apron Funding,” to enhance its mission of simplifying invoice management for small businesses.
This Apron funding round was led by Index Ventures, and additional contributions came from Bessemer Venture Partners and Visionaries Club.
A noteworthy development is Jan Hammer, a partner at Index Ventures, joining Apron’s board.
This substantial financial injection positions Apron for an expansion that targets the needs of SMEs (Small and Medium-sized Enterprises) and their accounting professionals.
Part of the ambitious plan involves introducing automatic invoice-capturing features. To support this growth, Apron plans to augment its existing team of 20 experts.
At the helm of Apron is Bogdan Uzbekov, the CEO, and Founder, who envisions a future where businesses can effortlessly manage, pay, and reconcile invoices within seconds.
With Apron Funding, the process becomes seamless:
- Effortless Invoice Management: Invoices transition seamlessly from accounting software to Apron, and email forwarding is a breeze.
- Streamlined Payments: Apron facilitates swift payments to multiple suppliers, regardless of their location, covering 150+ countries and supporting 30+ currencies with competitive exchange rates and no hidden fees.
- Quick Approvals: Payments and approvals are conveniently side by side, simplifying authorizations and amendments.
- Automated Reconciliation: Apron seamlessly syncs with accounting software, keeping books up-to-date without extra steps.
This funding announcement coincides with two significant product unveilings for accounting professionals:
- Apron Hub (Available Now): Tailored for larger accounting firms, this offering allows them to onboard team members, allocate tasks, view all pending actions in one centralized location, and pre-configure approval chains for bills across numerous clients.
- Apron Snap (Early 2024): Accountants can look forward to this groundbreaking feature, automating the capture and categorization of invoices from all their clients and seamlessly integrating them into their bookkeeping software.
Apron Funding underscores the company’s prowess, as it currently processes millions of pounds in transactions each month, serving hundreds of client businesses and thousands of payment recipients.
Apron’s innovative solutions are poised to streamline operations for businesses and allow accountants to focus on their clients’ success.