UK based Fintech startup Invoice Cycle has secured a solid $4 million seed round. The funding, first reported in Tech.eu, said participating investors, along with SeedL joined in the round.
Müller Medien is an interesting investor as its roots are more traditional businesses. Founded in 1950, Müller Medien is an old-school media firm with ownership in print, broadcast, book publishing and more. The push into Fintech may be a bit out of character but Müller recognizes the pressing need to migrate away from telephone directories. Müeller holds a growing portfolio in internet based platforms and has been actively seeking strategic alliance.. Müller may provide some valuable SME leads as total circulation of their print products is said to top 35 million.
Michael Oschmann, CEO of Müller Medien, told Tech.eu;
“Through our group of companies, we have access to tens of thousands of SMBs in Germany, and are always looking for turn-key technology solutions that can leverage this exposure and generate additional revenue streams.”
Old. Meet new.