Picture: co-founders Kim Verkooij, CEO and Etienne Gerts, CTO.
Monetisation is a major pain point for all software companies, dictated by inflexible billing systems, leading to revenue leakage and wasted key resources. However, today’s billing infrastructure does not scale with complex pricing plans, requires many manual interventions and existing players fall short when catering to the requirements of larger companies.
Most companies opt for retrofitting their existing systems in-house as they grow to incorporate more flexible functionalities. But in-house solutions tend to rely on the most senior engineers, and therefore price tweaks come at a big opportunity cost. As even more companies embed hybrid AI and Fintech into their business models, the transition process persists as a major complexity barrier, especially when implementing at scale.
Enter Solvimon. The team is building the next-generation end-to-end billing and pricing platform for mid-market & enterprise companies, enabling them to implement a modular and integrated suite for metering, pricing, billing and broader customer and revenue insights that can deal with the most complex edge cases.
The founders, Kim and Etienne have previously built Adyen’s internal billing engine – Kim as the VP of Product and Etienne as SVP Engineering, where they noticed that there was a clear lack of billing and pricing platforms that support a usage-based model, handle the flexibility of tailored enterprise contracts, as well as enormous volumes, as business scale globally.
Following various conversations with buyers across mid market and enterprise customers, it became clear to us that Solvimon stands out with a unique approach to product. Solvimon offers a holistic platform tailored towards companies with higher infrastructure sophistication and global billing flows, adopting a usage-based or hybrid pricing model across SaaS, Fintech, AI and Data by integrating to their customers’ CRM, finance systems and ERP. The modern low-code platform provides functionality and tools for businesses to overcome issues surrounding billing by streamlining the quote-to-cash process and offers flexible and simple implementation.
We believe that the founding team is best equipped to build a category-defining business in the space, amidst their strong billing DNA and product sophistication with an end-to-end approach that can command larger ACVs out the gate. Billing and pricing software are mission-critical for any business, and there is a strong need for a sophisticated end-to-end solution with a breadth of functionality.
We’re excited to lead Solvimon’s €9m Seed round as they continue to shape the future of billing and pricing.
Picture: Solvimon team.