The company simplifies invoices and payments for SMEs and allows business managers, financial directors, and accountants to centralise their invoices, pay and get paid, through a simple procedure. Libeo provides account payable (AP) and account receivable (AR) capacities, with a solution that synchronises with banks and accounting software on the market.
With the UK being the most mature European fintech market for consumers, in terms of size and usage, the French startup can leverage this aspect to expand its reach and increase visibility. However, the rate of adoption of fintechs among SMEs is significantly low, with almost 50% of the businesses still using paper cheques to pay suppliers, as opposed to adopting a digital, automatised system.
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