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E-invoicing, SCF & E-procurement

Invoice discounting startup KredX acquires Hummingbill

Friday 10 March 2017 | 01:10 PM CET

Invoice discounting startup KredX has acquired Hummingbill, an invoicing platform for small and medium businesses, for an undisclosed sum to strengthen its technology functionalities.

Hummingbill’s Gmail plugin product allows for automated tracking of invoices and cash flow management.

KredX’s platform enables small merchants to sell their invoices raised against blue-chip companies at a discount to investors, banks and financial institutions to raise money for their working capital needs.

Hummingbill’s four-member team will join KredX and the 500 merchants on its platform will be onboarded in the merged entity.

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