Invoier co-founder and CEO Fredrik Mistander is a guest on the podcast “Under femton” to discuss entrepreneurship and an idea backed by the EU.
The Swedish fintech company Invoier was founded in 2018 and operates an ”invoice exchange”. The company has now secured SEK 682 million from the EU, which will cover credit losses and increase the risk appetite of buyers on the platform. This is in order to clean up a fragmented factoring market and help more companies to grow.
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SMEs are at the heart of the European economy and comprise more than 25 million companies and account for more than two-thirds of the workforce. Ensuring that these companies have fair opportunities affects millions of people and we are so happy that we and the European Commission's innovation organization share the vision of being able to contribute in this way
Fredrik Mistander, CEO Invoier
Factoring, or the fact that usually smaller entrepreneurial companies sell or mortgage their invoices to bring in cash for the business, is a phenomenon that has always existed in some form but is an industry that, according to Fredrik Mistander, needs to change.
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We want to innovate in a very tired market, where many factoring companies have carved gold for many years. It requires transparency and trust, which we want to contribute. Having the EU as an investor is of course special and an honor, but it also gives us a greater responsibility to succeed
Fredrik Mistander, CEO Invoier
Listen to the podcast episode here (available in Swedish only):
https://www.dagensmedia.se/podcast/under-15/invoiervi-vill-skaka-om-en-valdigt-trott-marknad/