Fintech platform for digital media companies, BillFront, recently announced it raised $35 million during a Series A Funding round. Investors who participated in the funding round included 4Finance, NIBC Bank, and FinLeap.
BillFront, which was founded in 2015 and based in London, describes itself as a fast growing alternative online lending platform. It offers financing solution for digital media companies by providing access to revenues and enables customer growth potential. The company stated:
“Our team combines many years of digital media and financial services expertise. We understand that timely access to cash is vital to fast-growing businesses such as yours in order to stay competitive. We founded BillFront on the premise of providing digital media companies with an easy to access & scalable working capital solution.”
Sharing more details about BillFront’s platform, Co-Founder and Managing Director Christopher Vogt, stated:
“There is a clear need for growth capital within ad-tech, and our solution provides an attractive alternative to expensive equity capital on one hand, and often inflexible debt financings on the other. And, we make requesting funds through our platform so seamless that our clients can focus more on their core business.”
BillFront noted it plans to use the funds from the Series A round to expand and support its customer needs as well as to continue the development of its proprietary technology and the acquisition of new talent. Greg Dimitriou, Co-Founder and Managing Director of BillFront added:
“With this financing, we are adding two more strong partners that enable us to execute our vision of becoming the leading alternative finance platform for digital media businesses.”