Apron, a fintech startup that streamlines invoice payment for small businesses, has raised $15 million from Revolut-backer Index Ventures in a round led by Revolut-backer Index Ventures.
London-based company, founded in 2022, has created a payment platform that pulls invoices into one place and enables firms to batch-pay their suppliers. Apron charges fees on associated exchange charges and also offers a three-tier subscription model.
Apron is available in 150 countries and more than 30 currencies and has largely grown from word of mouth over the last few years. Uzbekov, a former product lead at Revolut, said that one customer cut their payment time for 300 invoices down from five hours to just 15 minutes using the platform.
Index Ventures, led by Bessemer Venture Partners and Visionaries Club, received the funding of $15 million.
Apron's new capital will go towards enhancing its workforce of 20 employees and enhancing its product and marketing capabilities.