Apron, a UK startup focused on reducing the time small businesses spend on invoice processing, has successfully raised $15 million in Series A funding.
Founded by former Revolut product lead Bogdan Uzbekov, Apron was soft-launched just six months ago and has quickly made an impact, processing millions of pounds in transactions each month while collaborating with hundreds of clients and thousands of payment recipients.
Uzbekov identified the potential for Apron during a brief tenure at Square, where he served as the European Operations lead. He recognized a significant gap between consumer and merchant offerings in payment management.
“In consumer electronics, understanding both hardware and software is essential, which contributes to Apple’s success,” he explains. “For Apron, our payments platform represents the hardware, while our meticulously designed workflows function as the software. We are more than just a streamlined app; we serve as a vital component in the operational framework that helps small businesses thrive.”
Instead of replacing existing accounting software, Apron integrates seamlessly into current workflows, connecting with tools that businesses and accountants already utilize. The platform allows users to efficiently manage and reconcile invoices, as well as pay multiple suppliers simultaneously across a network covering over 150 countries and more than 30 currencies.
With the new Series A funding, led by Index Ventures with support from Bessemer Ventures and Visionaries Clube, Uzbekov plans to expand Apron’s team, which currently consists of 20 members, and enhance its product offerings.