EIC increases investment in Invoier

From time to time, some of the most promising start-ups in Europe are chosen by the EIC Fund, who then makes investments in them, as part of a plan to back businesses with game-changing ideas. One of its investments, Invoier, has seen the EIC Fund grow its ownership, making them one of the company’s largest shareholders alongside the founders.

Invoier, a Swedish fintech firm founded in 2018, was one of the first businesses to get funding through the extremely selective EIC Accelerator program, which was launched at the end of 2019 under Horizon 2020, the European Union’s research and innovation initiative. By raising its ownership stake in the company, the EIC Fund is demonstrating its sustained confidence in the novel technological advancement. A verification of ownership has been authorized as part of the procedure by the Swedish Financial Supervisory Authority.

We are thrilled to keep assisting the team as Invoier makes tremendous progress on its path. This accomplishment demonstrates how the EIC Fund is bolstering the European startup ecosystem, according to Kinga Stanislawska, a member of the European Innovation Council (EIC) Board.

Invoier previously received grant support from the EIC Accelerator in addition to this investment from the EIC Fund. Prior to every investment, it is subject to a thorough review by outside specialists, a due diligence procedure supervised by the European Investment Bank, and a final determination by the EIC Fund manager. Since its founding, the EIC Accelerator has received applications from almost 20 000 European start-ups, of which just 2-3% were accepted (616). 29 Swedish businesses have so far been chosen for funding via grants alone or in conjunction with equity.

As a small business competing with the big, established factoring giants, we value the EIC Fund’s confirmation that we’re on the right route and fostering much improved conditions for SMEs, says Fredrik Mistander, CEO & Co-Founder of Invoier.

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