POM, the Antwerp based company which develops payment solutions to simplify invoice processing, collects 830,000 euros in a new capital round. The extra capital is injected by a number of business angels from Be Angels and BAN Vlaanderen. The total capital raised by POM now amounts to 1.9 million euros. The existing shareholders, including the management of POM and B2BOOST, have also contributed to this investement round.
The new funds will be used to accelerate POM’s growth path in Belgium, but also outside the national borders. The extra money raised will also benefit the further development of POM’s range of services to be able to fully anticipate the rapidly changing market conditions (eg. PSD2, instant payments, etc.). Ease of payment for end users and cost efficient customer invoicing for companies take center stage in the development process.
POM’s core team will also be strengthened in the coming months, both with commercial and technical profiles. The Board of Directors is complemented by the expertise of business angels Jean-Marc Toussaint and Steve Vantorre, who also participate in the capital increase.
Johannes Vermeire, co-founder and CEO of POM, adds: “This additional investment from Be Angels and BAN Vlaanderen strengthens our go-to-market plans and allows us to further refine our invoice payment solutions. In this way more and more people will be able to enjoy the ease of paying via POM and will be redeemed from time-consuming paperwork. Accounts receivable departments will also be able to greatly benefit from this.”
To further strengthen the growth ambitions, POM also signed a strategic agreement with a major financial services player earlier this month. More details about this partnership will be announced soon.
In the meantime, further steps have been taken in collaboration with the National Bank of Belgium regarding the process to obtain a payment institution license for part of the payment services in POM’s mobile app. POM expects to be able to reactivate these services shortly.
POM has been advised for this capital round by Merodis, an independent corporate finance advisory firm, located in Brussels.