Dutch fintech Solvimon has secured €9m from Northzone to power the next-generation billing platform.
Founded by former Adyen vice presidents Kim Verkooij (CEO) and Etienne Gerts (chief technology officer), the end-to-end billing platform is aimed at mid to large businesses.
It offers the option of ‘usage-based’ pricing methods where customers pay for what they consume, and hybrid models combining usage-based and traditional subscriptions.
“While there has been innovation in pricing and metering solutions, businesses are still underserved. Their options are patching together point solutions or entering the expensive and time-consuming process of building a homegrown billing solution,” Verkooij said.
“There is a clear need for a flexible, yet end-to-end billing platform.”
Having previously worked on developing Adyen’s billing engine, Verkooij and Gerts realised technology like AI was accelerating the adoption of usage-based models, but saw a gap in billing solutions for this business model.
“Having previously built Adyen’s complex internal billing engine, Kim and Etienne bring a wealth of unique insights and a deep understanding of the complexity of pricing for larger companies which are increasingly adopting hybrid business models,” Northzone partner Michiel Kotting said.
“Billing and pricing software are mission-critical, and there is a strong need for a sophisticated end-to-end solution with a breadth of functionality.”
Northzone led the seed round of fintech Era last week, which raised $3.1m for its platform using artificial intelligence to personalise wealth management advice.