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Rapidly growing payment service makes life easier for small businesses

Blog posts   •   May 12, 2016 13:36 BST

Today you can read this about us at Entrepenörsguiden.se.

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Billhop is one of the most promising Swedish fintech start-ups

News   •   May 06, 2016 13:33 BST

Swedish DI Dimension (May 2016) has, together with DI Digital, chosen ten of the most promising Swedish fintech start-ups who are still more-or-less known. We are honoured to be on that list together with companies such as Bambora and Trustly.

"This past year, the company's business idea has focused exclusively around businesses. Together with the card companies, Billhop has developed new types of credit lines for companies linked to physical or virtual credit cards. The Company plans to soon enter the UK market.

​Swedish DI Dimension (May 2016) has, together with DI Digital, chosen ten of the most promising Swedish fintech start-ups who are still more-or-less known. We are honoured to be on that list together with companies such as Bambora and Trustly.

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Disruption Banking Nordics

News   •   Apr 25, 2016 13:27 BST

On Friday, we attended "Disruption Nordic Banking" - which was organised by True Global Ventures and Deloitte Digital. We were on one of five finalists selected from 20 Nordic fintech companies, to introduce ourselves and pitch to an audience and a jury, in the category "growth stage fintech company". We are proud to announce that we were given a prestigious second place, and would also like to congratulate Finnish Zervant who won the category and took home the prize!

On Friday, we attended "Disruption Nordic Banking" - which was organised by True Global Ventures and Deloitte Digital. We were on one of five finalists selected from 20 Nordic fintech companies, to introduce ourselves and pitch to an audience and a jury, in the category "growth stage fintech company".

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Billhop raises 18 million - aims towards large companies

News   •   Mar 11, 2016 13:41 GMT

​On the 11th of March, DI Digital wrote: Payment company ‘Billhop’ raises 18 million kronor in new capital, and at the same time, launches a payment solution which means that even large companies can pay invoices with a credit card, instead of selling their invoices to factoring companies.

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News letter February 2016

Blog posts   •   Feb 15, 2016 13:45 GMT

​2016 is in full swing, and exciting things are happening at Billhop! The year began with an upgraded status from ‘Finansinspektionen’ which meant that we are now a Payment Institute. This is an important milestone in our plan to launch Billhop in Europe, starting in the UK.

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Billhop aims its sights towards Britain

News   •   Aug 17, 2015 13:47 BST

On the 17th of August, DI Digital wrote:

The Swedish Fintech company ‘Billhop’ has gained momentum. The company, which makes it possible for small business owners to pay invoices using their credit cards, now seeks to expand operations into Europe.

Last spring, Billhop was accepted onto an accelerator programme organised by the card giant MasterCard. The programme "Home Path" is there to help start-up companies expand in Europe, and Billhop is aiming for a specific market.

"Britain suits us very well. It is a market well accustomed to the internet and has a mature card market," explains Erik Malm, CTO at Billhop.

In addition, the UK has a large market with over 4 million small and medium-sized businesses. The plan is to launch Billhop in the UK this winter. After this, no doubt Spain and Italy - two markets with a large number of small businesses, are also something the company will be aiming for. However, to cope with such rapid growth, a lot of money is needed. Billhop raised SEK12 million in venture capital, from for example Almi Invest, just over a year ago. Now they are planning a new round of financing around the turn of the calendar year.

This is an excerpt taken from an article published in DI Digital on the 17th of August. You can read the full article here: http://digital.di.se/artikel/billhop-tar-in-18-miljoner--siktar-pa-storforetag (article in Swedish)

​On the 17th of August, DI Digital wrote: The Swedish Fintech company ‘Billhop’ has gained momentum. The company, which makes it possible for small business owners to pay invoices using their credit cards, now seeks to expand operations into Europe

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Swedish Billhop chosen for partnership with MasterCard

Press Releases   •   Jun 11, 2015 15:16 BST

The Swedish start-up Billhop, has entered into a partnership with MasterCard. The partnership means that Billhop, as the only Swedish company, is part of MasterCard StartPath, a program that is put in place by MasterCard with the purpose of developing and supporting start-ups. The partnership started during the Spring 2015 and is ongoing.

MasterCard StartPath is a program that aims a identifying promising start-ups that have a business idea that correlates with MasterCard’s strategy and in addition have a product or solution that is scalable on a global market. As one of five start-ups, Billhop is the first Swedish company to be part of StartPath. For Billhop the program provides:

  • Access to MasterCard’s technical and commercial knowledge and resources
  • Access to MasterCard’s network of customers. e.g .banks, retail, etc.
  • Access to other MasterCard solutions and services within payments which Billhop could integrate and collaborate with.

– We are naturally very excited over the partnership with MasterCard. The new regulations on interchange within the EU will incur a lot of changes for all of us operating within the card payments industry. As business cards are not included in this regulation, there will be a higher emphasis on commercial cards. From that standpoint Billhop is especially relevant since our primary focus is towards SMEs that wish to utilize their business cards. We see joining StartPath as a proof of hard work and that our business idea is well positioned for the future opportunities of the payment industry, says Sebastian Andreescu, VD för Billhop.

– Start Path Europe is an excellent opportunity to support a diverse set of highly innovative startups focused on the future of commerce and payments. We look forward to helping Billhop as they develop and scale their unique solution, says Stephane Wyper, Global Lead, MasterCard Start Path.

For further questions or further information, please contact:

Sebastian Andreescu, VD

Tel: +46 (0)732 51 51 71

Email: sebastian.andreescu@billhop.se

Billhop is a SaaS which enables businesses and consumers to pay their bills/invoices with their credit card. We have a license which is regulated by the Swedish Financial Inspection Authority and we accept payments with all cards issued by MasterCard, VISA and American Express. The company was founded in 2011 and has its HQ in Stockholm, Sweden. For more information, please visit billhop.se

Swedish Billhop chosen for partnership with MasterCard The Swedish start-up Billhop, has entered into a partnership with MasterCard. The partnership means that Billhop, as the only Swedish company, is part of MasterCard StartPath, a program that is put in place by MasterCard with the purpose of developing and supporting start-ups. The partnership started during the Spring 2015 and is ongoing.

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Overdue invoices are a thing of the past with new payment service

Blog posts   •   Apr 14, 2015 13:54 BST

Now you can always pay your suppliers on time, without compromising your own liquidity!

Many are forced to pay their bills after the final payment date because they do not have the liquidity to pay them on time.

Billhop is a Swedish payment service which makes it possible for businesses and individuals to pay their invoices using their existing cards. Most Swedish credit or debit cards have an interest free credit period of 30-60 days. By paying your bills with your payment card, you can be sure that your suppliers are paid on time, without needing to sacrifice your liquidity.

At Billhop, we offer businesses an alternative to factoring. Instead of selling your future revenue to improve liquidity, we provide the opportunity to postpone your expenses until you have received payment from your customers.”

– Sebastian Andreescu , CEO at Billhop

Advantages of using the service

  • Your suppliers receive payment directly and on time, without you having to compromise your liquidity.
  • You don’t need to sell your customers’ invoices or apply for new loans.
  • You decide yourself which invoices you want to extend the payment time for.

Bonus points on your purchases

Many card providers have a rewards programme linked to their cards. This can mean anything from bonus points which you can use to pay for travel expenses, to cash back on the amount spent. Through paying all of their invoices by card, businesses can take advantage of the bonus points they will subsequently earn to, for example, hire a car or use them to pay for business trips.

How does the service work?

The service has a fee which is related to the transaction sum. There are no fixed or start-up fees, and everyone can register an account for free.

It takes less than a minute to get started using the service. No applications, credit checks or other unnecessary administrative processes are required - you simply use your existing card. 

​Now you can always pay your suppliers on time, without compromising your own liquidity! Many are forced to pay their bills after the final payment date because they do not have the liquidity to pay them on time.

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New smart service solves companies’ liquidity problems

Blog posts   •   Apr 14, 2015 13:49 BST

Are you forced to pay your supplier invoices before you’ve received payment from your customers?

Billhop is a Swedish payment service which makes it possible for businesses and individuals to pay their invoices by card. You avoid being down on you finances before receiving payment from your customers, yet your suppliers are paid directly and on time.

A common problem that many companies experience, are long lead times between purchase and sale. This can lead to a ‘liquidity gap’ that may require external financing, or that the company tie up its working capital. This new financing solution is a service that helps companies to bridge this gap. In a simple and cost effective way, companies are able to pay their supplier invoices using the interest free credit period on their existing credit or debit cards.

What the service does

The aim of the service is to help businesses pay their invoices on time, and at the same time, give them between 30-60 additional days to receive payment from their customers. Most Swedish credit or debit cards have an interest free credit period of 30-60 days.

How does the service work?

It takes less than a minute to get started using the service. No applications, credit checks or other unnecessary administrative processes are required - you simply use your existing card.

After you have registered a business account, you can start uploading your invoices. Just as with internet banking, the name of the payment recipient, a reference number and the sum to be paid, are all required.

Exactly as when shopping online, card details are used to perform the transaction.

The ambition to simplify

Billhop began with four entrepreneurs with background and experience of other payment services. The ambition has always been to simplify the way in which small and medium sized businesses manage their payment flows.

"Since we know that smaller businesses want to minimize time spent on administration and instead focus on core operations, we at Billhop are working continuously to further develop our simple financing solution so that it facilitates the daily work of our customers."

– Erik Malm, CTO and Founder

​Are you forced to pay your supplier invoices before you’ve received payment from your customers? Billhop is a Swedish payment service which makes it possible for businesses and individuals to pay their invoices by card. You avoid being down on you finances before receiving payment from your customers, yet your suppliers are paid directly and on time.

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New web service challenges big factoring companies

Press Releases   •   Feb 09, 2015 13:57 GMT

The company ‘Billhop’ has developed a service to help small and medium-sized businesses hold on to their liquidity. Today, many small businesses operate under a lot of pressure, and it can often be difficult to pay suppliers on time. Therefore, many companies are forced to mortgage or sell their own invoices to various factoring companies. However, by using a company card, and its credit period as a buffer, the threat of bad liquidity can be avoided. Almi Invest was part of an issuance that generated more than SEK12 million for Billhop.

Strained liquidity is a familiar phenomenon for most small businesses. This leads to constant stress over paying supplier invoices on time. In order for the equation to add up, companies must have the vital revenue from their customers before paying their suppliers. Therefore, many small businesses sell their invoices to various factoring companies in order to be able to pay suppliers when their invoices start coming in. However, this is a problem when the cost of the factoring fee, a certain percentage of the invoice amount, reduces the company’s own revenue:

– This service means that it is now easier and more cost-effective for businesses to solve their liquidity problems. Through using Billhop, companies escape the cumbersome administrative processes that applications for factoring often require. In addition, companies' avoid transferring customer invoices, which is seen as a negative by many customers. We are aware that our business concept is a new phenomenon in the market and will subsequently require time. Therefore, we are delighted to have signed a long-term owner such as Almi Invest, explains Sebastian Andreescu, CEO at Billhop.

The credit on your card has you covered

Companies that use Billhop can pay supplier their supplier invoices with their existing cards. They thereby take advantage of the available interest free credit period which would otherwise often remain unused. This means that the date companies have to have funds readily available to pay their suppliers by is shifted, as credit cards generally have 30-60 days of credit. In addition, the company can reduce the need to sell their customer invoices by instead deferring the payment date on their supplier invoices until they have received payment from their customers.

Solving a problem

The service Billhop provides also has clear advantages for suppliers, as they are paid directly and on time.

Billhop has identified and created a solution to an important and urgent problem within the world of small businesses. There are hardly any business, especially in the category of start-ups, that do not have a constant struggle with their liquidity. I am convinced that their expertise in the area and its service, means they will be successful, explains Johan Crona Investment Manager at Almi Invest.

The very foundation of Billhop’s system is primarily based on its own software platform which was developed in 2011. The company is authorized by Finansinspektionen to operate in accordance with the rules that apply to payment service providers.

For more information, please contact:

Johan Crona, Investment Manager Almi Invest tel +46 73-984 31 35 johan.crona@almi.se

Sebastian Andreescu, CEO at Billhop tel: +46 73-251 51 71 sebastian.andreescu@billhop.se

Maria Kessling, Chief of Communications at Almi Invest, tel +46 76-880 88 10 maria.kessling@almi.se

About Almi Invest

Almi Invest is Sweden's most active investor in young growth companies. We create, with expertise, capital and networking opportunities for companies to grow. Investments happen from the seed phase to the expansion phase. We can be found across the whole country, with both regional knowledge and an international perspective. Our portfolio contains around 400 young growth companies in many different industries. Almi Invest is a subsidiary of Almi Företagspartner AB.

About Billhop

Billhop allows you to pay your bills or invoices with your credit card. By doing this, you can extend the time you have to pay, as well as having the opportunity to enjoy the many advantages your card may offer, for example bonus points etc.

Billhop was founded in 2011 by four entrepreneurs, Erik Malm, Carl Dohrmann, Johan Larsson and Lars Martin Norviit. The company is a registered payment service provider and is under the supervision of Finansinspektionen.

Billhop is a SaaS which enables businesses and consumers to pay their bills/invoices with their credit card. We have a license which is regulated by the Swedish Financial Inspection Authority and we accept payments with all cards issued by MasterCard, VISA and American Express. The company was founded in 2011 and has its HQ in Stockholm, Sweden. For more information, please visit billhop.se

​The company ‘Billhop’ has developed a service to help small and medium-sized businesses hold on to their liquidity. Today, many small businesses operate under a lot of pressure, and it can often be difficult to pay suppliers on time.

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Contacts 4 contacts

  • Press Contact
  • COO & co-founder
  • iyroozbxrtjsbetvh.charvjlico@bazuxilkalhopql.snoe

About Billhop

Billhop is a SaaS which enables businesses and consumers to pay their bills/invoices using their credit card.

Billhop is a SaaS which enables businesses and consumers to pay their bills/invoices with their credit card. We are a Payment Institute regulated by, and under the supervision of, the Swedish FSA. We accept payments with all cards issued by MasterCard, VISA and American Express. The company was founded in 2011 and has its HQ in Stockholm, Sweden. For more information, please visit billhop.co.uk

Address

  • Billhop
  • Strandvägen 47, 5 tr
  • 114 56 Stockholm
  • Sweden