Bizcuit Group invests EUR 1.2 million in Klippa for Middle East expansion
International fintech scale-up, Klippa received an investment of 1.2 million Euro led by its customer, fintech disruptor, Bizcuit Group. Klippa intends to use the funding to accelerate innovation, with focus on specific markets including the MENA region. The company will use 200,000 Euro to buy out early-stage angel investors. It is the fourth investment since the software scale-up came into existence in 2015.
Klippa co-founder and CEO, Yeelen Knegtering said, “The current COVID-19 crisis makes digitizing business processes more important than ever. With our tools, employees can complete their administrative tasks anywhere and anytime, allowing businesses to work safely from home and speed up their administrative process by up to 70 percent.”
Bizcuit develops and markets B2B cloud solutions for SME businesses and freelancers and invests in companies with similar goals. Bizcuit first came into contact with Klippa when the the group’s subsidiaries, Minox (accounting software) and Bizcuit (fintech software) started using Klippa’s smart document processing APIs.
Klippa started hiring Arabic talent in 2019 because of a high demand for innovative technology in the Middle Eastern market. It plans to double its efforts in 2020 to help even more companies across the region.