iPaidThat raises €8 million to automate corporate financial management

Par ediallo - 27 September, 2021 - 08:14

iPaidThat has developed a kind of cockpit to control the financial management of VSEs and SMEs. After winning over 15,000 users, it wants to accelerate its deployment in France thanks to a second round of financing of €8 million. It also wants to offer its SaaS solution in Spain, Italy and Benelux.

The start-up iPaidThat, which has developed an automated accounting service, announced on Monday 27 September that it had raised €8 million in funding. The round was led by Bpifrance, through its Digital Venture fund, with the support of Truffle Capital and Adélie.

This is the second round of financing for this company based in the third arrondissement of Paris. The first, for €1.5 million, was closed in April 2019.

AUTOMATING FINANCIAL MANAGEMENT

The startup was founded in 2017 by Sébastien Claeys, Jean-Pierre Ocalan and Hugo Allary. It has developed a SaaS solution for pre-accounting, which refers to all financial tasks that do not fall under the missions of certified public accountants.

It automates and centralizes the financial management of VSEs, SMEs and company directors, alerting them in real time to their legal obligations.

The objective of iPaidThat is to lighten the administrative burden of these companies thanks to a series of features that have been added "based on customer requests," says Sebastien Claeys, founder and CEO of iPaidThat, to L'Usine Digitale.

Today, this software allows to recover missing documents, manage expense reports, edit fractions as well as perform automated collection and payment of suppliers.

It also offers a dashboard to manage the company's cash flow. Called Tréso, it is one of the latest updates to iPaidThat.

15,000 USERS AND 3 MILLION INVOICES PROCESSED

IPaidThat is also aimed at accounting firms to integrate their own clients. To date, it has convinced 15,000 users, including a hundred accountants, and has processed three million fractions. The start-up is growing rapidly and says it has attracted 800 additional clients since the beginning of the year.

The company, which employs 30 people, hopes to continue on this path thanks to this new round of financing. "We want to accelerate our growth in France and consolidate our leadership position in pre-accounting," says Sebastien Claeys, "and increase our range of features.

IPaidThat also wants to attract Spain, Italy and Benelux, where it plans to open offices in the coming months. To achieve these goals, a dozen new hires are also expected.

ALICE VITARD