London-based B2B payment platform has announced £3m seed fundraise

A London-based Fintech company has announced its £3M seed fundraise.

Crezco is a payment platform intending to make B2B invoice payments more convenient as B2C card payments without the costs.

Crezco has established partnerships with Xero, QuickBooks and other B2B platforms for invoice payments for millions of SMEs across the UK and Europe.

The platform has received financial support from several individuals and companies in the Fintech space.

Investors include Charles Delingpole, founder and CEO of Comply Advantage and Chris Adelsbach, Fintech investor and managing partner at Outrun Ventures.

Crezco also received investment from UFP Fintech, early investors in Revolut as well as other angel investors, venture capital funds and payment specialists.

Ralph Rogge, co-founder and CEO of Crezco said: “We’re delighted to announce our £3M seed fundraise with support from well-respected names in the Fintech space. Compared to typical software companies, Fintech hasn’t historically scaled at zero marginal cost. Open banking solves this paradox.

“We provide a free online payment solution in the same manner WhatsApp provides free online messaging to replace cellular SMS messages. Simply, we leverage open banking to increase convenience and reduce costs.

“We hope to be able to introduce a fairer and more affordable payment option for millions of small businesses that have faced the prospect of a tough future over the past year. In turn, we hope to see SMEs passing these savings onto consumers.”

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