The Italian invoice financing platform CashInvoice launched, on March 9th, a crowdfunding equity campaign on CrowdFundMe. The company is aiming to raise a minimum of $226,910 (€200,000) and a maximum of $1.1 million (€1 million), based on a pre-money valuation of $8 million (€7 million). The minimum investment is $567 (€500).
Upon reaching at least $567,192 (€500,000) in funding, CashInvoice is expecting to grow to such an extent that it will self-finance its listing on the Stock Exchange as early as 2021. In addition, the company hopes to achieve economic results in excess of $850,807 (€750,000), develop further technological features, and expand its presence in Europe and worldwide.
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CashInvoice’s turnover increased by 176%
CashInvoice operates in invoice trading and digital factoring, and boasts more than $170 million (€150 million) in transactions since the beginning of the activity, of which $91 million (€80 million) in 2019 distributed over 1,000 invoices and more than 3,000 companies registered (including both sellers and sold). CashInvoice’s turnover increased by 176%: from approximately $226,912 (€200,000) in 2018 and EBITDA of $13,618 (12,000) to $627,549 (€553,000) in 2019.
The fintech startup, based in Milan, is led by Luca Scali, a business angel and partner of Digital Magics (Italian incubator of innovative startups). SMEs is authorized by OAM (Agents and Brokers Organization) and has developed a proprietary technology, unique in its kind, which allows to compare factoring solutions (sale of entire packages of trade receivables) and invoice trading (sale of individual invoices) on the market, evaluating the offers of the best operators in the industry. Above all, it carries out, in a semi-automated way, the financial analyses and checks on the companies, individual shareholders and invoices, in order to avoid fraud attempts and speed up the factoring processes.
CashInvoice’s subsequent goal is to be listed on the stock exchange
If CashInvoice will reach its collection target of $567,305 (€500,000), it will be one of the startups financed with equity crowdfunding that in a short time will be financed with a subsequent round on the Stock Exchange, with a so-called crowd listing operation. In 2019, the company investing in startups and innovative SMEs, Innovative-RFK spa (i-RFK spa), landed on Euronext Access last December 27th after its equity crowdfunding campaign on the CrowdFundMe platform.
CrowdFundMe’s first issuer to be listed on the stock exchange was the leading Italian short-term rental management platform CleanBnB, which landed on Aim Italia in July 2019. Another crowd listing will be that of Cesynt Advanced Solutions, owner of the e-learning platform iSkilled, which at the beginning of January raised over $1.1 million (€1 million) on the Opstart platform, and is now preparing for listing on Euronext.
Another company that has conducted crowdfunding equity campaigns on CrowdFundMe and has just started the listing process is TrenDevice, an Italian company that reconditions high-end hi-tech devices such as smartphones and tablets. The company has also announced its intention to list the e-commerce of Winelivery wine on the stock exchange, which has several crowdfunding equity campaigns to its credit. Finally, Sixth Millennium, a venture capital fund specializing in high-tech startups based in Tel Aviv, launched an equity crowdfunding campaign on CrowdFundMe at the beginning of February, with the subsequent goal of being listed.
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First published in BeBeez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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