Hyperline has secured $10 million for its automated invoicing platform

French startup Hyperline He wants to build the next generation Chargeby. Over the past two years, the startup has built a new billing platform that can be used for recurring subscriptions, one-time purchases, usage-based billing, and more.

Hyperline has raised a €4 million seed funding round from Index Ventures once again 2023 ($4.1 million at today’s exchange rate). Index Ventures is doubling this investment, investing another $10 million in the startup.

Although billing seems like an obvious problem, it becomes a daunting issue once you start scaling. “In the case of billing, what consumes a lot of time is the day-to-day operations. Every day, when you have more than 200 or 300 customers, someone has to go and check that everything is correct,” founder and CEO Lucas Bidot told TechCrunch. “.

Sometimes, pricing isn’t right. Other times, you forgot to add some items to the invoice or the customer requests a partial refund. Of course, automatic payments fail fairly regularly for one reason or another.

“Initially, we said to ourselves, we’ll look at existing tools like Chargebee, and we’ll do a little better than them. Except 20% better is good, but everything has changed so much that now it’s completely different. Now, people are looking for automation, and they don’t want Manually process invoices, send reminders, create quotes, etc.

In addition to managing subscriptions, Hyperline has added other pricing models. For example, customers can quickly set custom prices or add some usage-based components so customers pay for what they use. Hyperline also handles billing directly.

When it’s time to pay, Hyperline doesn’t process the payments directly but takes care of that part for you. “We manage the entire value chain except payments… However, we do something great with payments. We position ourselves as a facilitator. Our customers do not use payment processors directly,” Bidot said.

Instead of navigating between different tabs to interact with Stripe, GoCardless, Airwallex, or any other payment processor, Hyperline acts as an interface to interact with these payment providers. It facilitates the use of multiple payment providers depending on the country or payment method.

Clients usually start with the web interface. They connect Hyperline to their CRM system so sales teams can create quotes directly from the CRM. They also connect the platform to accounting software to process invoices and settle payments.

But Hyperline also offers an Application Programming Interface (API), which can be particularly useful for syncing events directly from the data warehouse for usage-based billing.

There are currently 14 people working at Hyperline, but the company expects to grow to 25 employees in the near future. Clients include Lokki, Malou, ScorePlay, Gladia and Formance.

“The majority of our clients today generate revenues between 3 and 10 million euros,” Bidot said. But Hyperline already believes it can work with larger companies that handle a high volume of invoices. This will require working with integrators. It’s something Hyperline is already testing.