Revolut Alum's Apron Rakes in $15M for Invoice Innovation

<p>Apron, the fintech brainchild of a Revolut Product Lead, nabs $15 million
in Series A funding.</p><p>In the bustling world of finance, where invoices pile up like forgotten
chores, Apron is rapidly emerging as the solution to all our woes, securing $15
million in a Series A <a href="https://www.financemagnates.com/terms/f/funding-round/">funding round</a>. Born from the creative mind of Bogdan
Uzbekov, a former product lead at Revolut and European operations luminary at
Square, Apron is striding onto the scene.</p><p>Revving Up with Revolut DNA</p><p><a href="https://getapron.com/">Apron</a>'s founder, Bogdan Uzbekov,
brings a history of innovation to the table. His tenure at <a href="https://www.financemagnates.com/tag/revolut/">Revolut</a> and Square has,
he says, instilled in him a deep understanding of the <a href="https://www.financemagnates.com/terms/f/fintech/">fintech</a> landscape. Now,
with Apron, he's revolutionizing invoicing for SMBs. Apron soft-launched
earlier this year and is poised for expansion, bolstered by this $15 million
investment injection.</p><p>Funding Led by Index Ventures</p><p>The Series A funding was orchestrated by <a href="https://www.indexventures.com/">Index Ventures</a>, with a supporting cast
featuring <a href="https://www.bvp.com/">Bessemer Venture Partners</a> and <a href="https://visionaries.vc/">Visionaries Club</a>. With the Series A funding,
Apron will grow its 20-strong team, which includes talent from Meta, Revolut,
Square and Yandex, and significantly expand its offering for accountants – a
major sales channel for the product.</p><p>Turning Invoice Pain into Pleasure</p><p>In the tumultuous realm of payments, where transactions can often seem
chaotic, Apron brings harmony. With just six months under its belt, Apron is
already moving millions in monthly transactions. It’s working with hundreds of
clients, according to a statement from the company.</p><p>‘What providers forget is that the people behind businesses are, well,
people – and they want the same quality they’re familiar with in their consumer
apps,’ says Uzbekov. ‘Instead of
trying to solve business payments from just one perspective, we create a town
square where everyone can come together to move money as smoothly as possible
–flipping payments from being a blocker to being a booster.’ </p><p>Apron marries a user-friendly interface with meticulously designed
workflows. It seamlessly integrates with existing accounting systems like Xero
and Quickbooks, eliminating the need to start from scratch.</p><p>Whether you're a business owner or have navigated the labyrinthine
world of B2B payments, you know the tribulations of settling invoices. In the
UK alone, £1.5 trillion traverses the invoice payment process annually, consuming five hours of the typical small business owner's week, according to Apron, highlighting the need for its systems.</p><p>Five hours of our time back? Sounds like a no brainer.</p>

This article was written by Louis Parks at www.financemagnates.com.