French startup Upflow revolutionizes B2B payments: from invoice management to a complete payment platform.
We have exciting news from the financial technology industry! Upflow, the French startup that made its mark in invoice management, is taking a bold leap forward. As your tech correspondent, I’m here to share how this company is reshaping the B2B payment landscape.
Alexandre Louisy, Upflow’s co-founder and CEO, has unveiled an exciting shift in the company’s direction. They’re no longer just handling invoices; they’re becoming a full-fledged B2B payment platform. This move comes with their own payment gateway, working alongside their current invoice management system.
Think about how you pay for things today. You tap your phone at stores and barely notice when Netflix charges your card. But business-to-business payments? They’re stuck in the past. Louisy points out that about 90% of B2B payments in America still happen offline, mostly through paper checks. While European companies use bank transfers more often, these still need manual processing, which takes time and effort.
What makes Upflow stand out? Let’s break it down:
- They’ve built a user-friendly dashboard for financial teams.
- Companies can track all their invoices in one place.
- The system sends automatic payment reminders.
- It works smoothly with other financial tools.
- They’re now adding direct payment options.
The company serves businesses making between $10 million and $500 million a year, with their biggest client bringing in a whopping $1 billion in annual revenue. But Upflow isn’t stopping there. They’re helping companies move their customers to modern payment methods like card payments and direct debits. While they don’t expect everyone to switch overnight, they’re aiming for 20–30% of clients to adopt these newer methods.
Here’s where it gets interesting: Upflow is introducing what they call “financial relationship management,” or FRM. Consider it akin to a CRM (customer relationship management) system, specifically designed for managing financial transactions. This smart move shows how they’re growing beyond their original business model.
The company’s revenue model is changing too. Thanks to their new Stripe-built payment gateway, they are transitioning from purely subscription-based income to a mix of subscription fees and payment processing revenue.
But wait, there’s more! Upflow has big plans for the future. They’re looking to add:
- Businesses can opt for “Buy now, pay later” options.
- Invoice factoring services
- They can improve credit scoring by using the data they have collected.
This shift comes at a crucial time when many tech companies are struggling to secure funding. Upflow’s expanded services could help businesses better manage their cash flow and modernize their payment systems.
The move from simple invoice management to a complete payment platform shows how financial technology keeps evolving. While some companies stick to solving one problem, Upflow is taking on the bigger challenge of modernizing the entire B2B payment process.
For businesses exhausted of chasing payments and dealing with outdated systems, Upflow’s new direction offers hope for a more efficient future. As they say in tech, it’s not just about solving today’s problems—it’s about building tomorrow’s solutions.