Satago, a London, UK-based online platform that automates credit control, enabling small businesses and freelancers to get paid on time, secured $1m in a second funding round.
Most of the investment round came via AngelList. (UPDATE: The main investors in the round were E-merge and BDMI.
The company, which had previously raised $48,500 from 61 investors in 15 days through Seedrs, intends to use the funds to further develop its online platform.
Led by Steven Renwick, founder and CEO, Satago provides a platform that automates companies’ accounts receivable. The service integrates with accounting software used by freelancers and SMEs, and then automates the process of chasing their debtors through escalating email reminders, payment demand letters and phone calls by experienced credit managers.
The company recently entered Seedcamp.
FinSMEs
15/05/2014