Young French entrepreneurs looking to revolutionise business invoicing
Flowie is aimed at businesses that need to have visibility over their cash flow as well as their suppliers.
A French fintech founded by a trio of 30-something entrepreneurs- one of whom has just turned 30 – are looking to disrupt the B2B invoicing market.
The trio, all between the ages of 30 and 31, are aiming to solve the various invoicing problems they have experienced in their previous ventures, which include working for a raft of startups.
They say that fintech Flowie is aimed at businesses that need to have visibility over their cash flow as well as their suppliers.
It says that its offering not only simplifies the invoicing system but also helps businesses with fraud detection, and facilitating accounting and VAT declarations across Europe.
One of Flowie’s co-founders and CEO Yann Ravel-Sibillot has considerable experience in managing invoices at scale, having previously been CTO of Big Mamma, the restaurant chain, and also worked on insurance checkout flow Sunday.
Ravel-Sibillot said: “When I was CTO of Big Mamma, I had to manage a wide range of invoices, sometimes between hundreds and thousands a month - I was always being chased by the accounts team to validate them, when I never had the context and the information got lost in my thousand emails or with my team.
“ At the time, I decided to implement an existing tool to streamline the validation process and help the finance team. It took us up to six months to deploy the solution, with little result,"
The tech syncs up with a business’s existing systems that hold contracts, order numbers and it also integrates with a business's CRM systems to garner contextual information about the client or supplier.
It also connects with a business’s bank account so that it can see if it received a payment and initiate new payments.
It says its tech stack wins out as it alleviates the adminstrative burden that managing invoices for a business can entail.
Flowie has initially launched in France, with plans to launch in other markets in Europe over time.
The team currently consists of 11 people but plan to up it to 20 by the end of the year.
Flowie is recruiting a wide range of executives, including sales people, developers and AI experts.
The aim is to manage €1 billion worth of invoices by the end of the year.