The investment came from London-based venture capital fund Northzone and select business angels.
Northzone, founded in 1996, has raised over €1B in its latest fund and has invested in 150+ companies, including Trustpilot, Spotify, Klarna, and others. The firm operates from seed to growth stage with hubs in London, New York, Amsterdam, Berlin, Stockholm, and Oslo.
A “next-generation” pricing and billing platform
Solvimon, co-founded in 2022 by former VPs at Adyen Kim Verkooij and Etienne Gerts, offers a billing platform enabling mid to large businesses to operationalise modern pricing methods, including ‘usage-based’ and hybrid models.
The platform allows customers to pay based on consumption or a combination of usage and traditional subscriptions.
Verkooij, former Adyen VP of Product, and Gerts, former Adyen Senior VP of Technology and part of the founding team, collaborated on Adyen’s internal billing engine. This engine supported a usage-based model, handled flexible enterprise contracts, and managed global scaling.
Recognising the impact of emerging technologies like AI on the adoption of usage-based pricing models, they co-founded Solvimon to address the lack of billing solutions for this new generation of business models.
Solvimon offers a low-code, real-time platform enabling companies to implement various pricing models, including usage-based and hybrids.
Unlike point solutions addressing specific billing aspects, Solvimon manages the entire monetisation process, from deal terms generation by sales teams to revenue reporting by finance teams.
This end-to-end approach provides a single source of truth for product pricing and revenue data, streamlining operations and offering valuable business insights.
Kim Verkooij says, “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. There is a clear need for a flexible, yet end-to-end billing platform.”
“We’re really happy to be partnering with the Northzone team. They have studied the space deeply and understand the scale and urgency of the problem we’re solving. Their conviction meant that we could close the round in just two weeks and get back to building the business,” adds Verkooij.
Solvimon will use the funds to continue expanding its team and accelerate its go-to-market efforts.
Michiel Kotting, a partner at Northzone says, “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. 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.”