Apron, the fintech brainchild of a Revolut Product Lead, nabs $15 million in Series A funding.

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 funding round . 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.

Revving Up with Revolut DNA

Apron's founder, Bogdan Uzbekov, brings a history of innovation to the table. His tenure at Revolut and Square has, he says, instilled in him a deep understanding of the fintech 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.

Funding Led by Index Ventures

The Series A funding was orchestrated by Index Ventures, with a supporting cast featuring Bessemer Venture Partners and Visionaries Club. 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.

Turning Invoice Pain into Pleasure

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.

‘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.’

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.

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.

Five hours of our time back? Sounds like a no brainer.