For European SMBs StartUp Denario Launches Cloud Payment Platform And Secures 1.3M Euros

January 21, 2022 | 2 minutes read

Berlin-based cloud payment platform Startup Denario aims to facilitate small and medium enterprises in streamlining their financial operations.

The payment economy is continuously expanding and becoming more digital. The global mobile payments market is forecasted to grow to $12.4 trillion by 2025 -an increase of  235% from 2019. Indubitably, several factors like the rise of online payment system like PayPal, etc has caused the expansion in the digital payment trend.

And Denario being one such platform aims to launch its B2B payments software that goes beyond the traditional accounts payable and receivable solutions. Thus offering an innovative alternative to traditional banking for businesses to pay each other directly. The startup has also raised €1.3 million in a funding round led by 468 Capital with participation from Presight Capital and Mato Perić’s investment arm MPGI.

Founded in 2021, by Philipp Adrian Pohlmann and Keith Siilats the cloud payment platform enables businesses to connect with their financial tools. For instance, their bank accounts, Stripe Pay Pal, and Open banking. Subsequently, allowing its users to collect invoice documents from various sources such as Email, OneDrive, and DropBox automatically. All documents are scheduled for single or bulk payment.

It is of doubt that payment processes are notoriously difficult for small and medium scale enterprises. Some of the financial challenges they witness are limited or inconsistent cash flow and poor tax compliance etc. This has also given rise to Fintech startups to help the young companies and SMBs in busting their financial problems. Like Kenyan startup Alvin allows businesses to manage their finances in accordance with savings. Also, last year Fintech startup Earnr launched its app to help businesses or solopreneurs in bookkeeping.  

The innovative solutions provided by fintech software fintech apps and the B2B payment solutions have facilitated businesses in doing financial operations. But many European businesses struggle to facilitate the payment process. Plus, many business owners especially after COVID-19 had to take the help of banks and alternative lenders in order to fulfill their liquidity needs to assure their business survival. But startup Denario wants to change the game  to make the processes simpler and more efficient

Cofounder, Philipp Adrian Pohlmann, said: 

“At Denario our mission is to consumerize the business payments experience which is still largely based on paper invoices and bank transfers. By connecting buyers and sellers directly on one secure platform, our goal is to strengthen business relationships and to allow for more flexibility in the payment process.”

Soon the startup plans to add the messaging service for buyers and sellers to allow them to communicate plus make P2P payments directly in real-time. In short, allowing improved efficiency and communication.