Crezco, a London-based fintech company, has recently announced that it has secured $12 million in Series A funding. The funding round was led by MMC Ventures and 13Books Capital. The company, which specializes in using open banking to facilitate secure B2B invoice payments, plans to utilize the funds to expand its operations and business reach.
Under the leadership of Ralph Rogge, the Founder and CEO of Crezco, the company aims to make domestic and international invoice payments effortless, immediate, and secure for small and medium-sized enterprises (SMEs).
By leveraging open banking, Crezco has developed a solution that allows SMEs to manage, approve, and make payments for their bills all within the cloud-based accounting platform, Xero. This partnership with Xero provides small businesses with a secure and streamlined process for handling their financial transactions.
Eligible Xero customers in the UK can now register for the bill payments beta, with the new feature set to be made available on 27th November 2023. By offering this innovative solution, Crezco aims to empower SMEs to efficiently manage their invoices while enhancing overall financial security and convenience. With the recent funding secured, Crezco is well-positioned to further expand its operations and solidify its position in the fintech market.