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French startupIndyhas latterly close a newfangled funding round of $ 44 million ( € 40 million ) , with BlackFin Capital Partners leading the beat . Indy started as an automated accounting political platform for freelancers and other ego - employed citizenry .
But the company has been slowly iterating on its product to become an all - in - one platform for freelancers , from accounting to society macrocosm , revenue enhancement preparation , invoicing and ( soon ) business banking . It ’s an interesting example of the electropositive event of bundle in a software - as - a - service party . And it could urge on other entrepreneurs come up to a highly split market of potential client .
As long as you ’re be given a caller without any employee , Indy wants to offer all the administrative and finance tools that you need to run your business . It ’s contrive for freelancers , ego - employed people , doctors , architects , attorney , etc .
Other investor in the recent funding round include La Maison and iXO . Indy closed its funding round this summer . While the startup did n’t want to partake in its rating , the party allege that it ’s higher than the society ’s valuation after itsprevious € 35 million financing round($38.3 million at today ’s exchange pace ) .
Indy ’s core lineament remains its automated accounting feature . When you create an explanation , you may automatically start synchronizing your camber account with Indy so that past and future minutes are automatically bring .
After that , Indy tries to categorize each dealing mechanically . In some cases , substance abuser have to indicate the case of transaction in the app . Customers tot up a receipt to each transaction — VAT is automatically detected and receipts are then mechanically archived and can be used in the upshot of a tax audit .
At the close of the twelvemonth , Indy can pre - fill tax word form and transmit them to the corporate taxation administration now . Similarly , Indy handles VAT return .
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Indy ’s accounting tools are spare to use forever . As soon as you need to generate tax forms and submit them , you have to pay a monthly subscription . But it stay on much cheaper than lease an controller .
Product bundling playbook
For instance , you could now make quotes and invoices from Indy and store them in your substance abuser account . Of course , you could always use Word or Excel for these text file , but there are some benefits in having those documents in Indy directly . For instance , when a client pays an invoice with a bank transferee , Indy can mechanically mark an invoice as bear .
Similarly , before you could employ a product like Indy , you in reality need a caller to placard customer . In France , even if you ’re a part - sentence freelancer search for additional income , there is some paperwork involve and there are multiple options .
The inauguration helps you make the correct decisiveness when you create your company . Unlike traditional party creation services , Indy offer this service for free as long as you start a subscription — but you’re able to offset that subscription whenever you require .
These intersection increase the ware stickiness and users are more likely to recommend Indy to other self - employed people . Similarly , the gross sales funnel works peculiarly well , as a good portion of people who desire to become freelancers will have to pluck a troupe introduction service first .
The next step is clear : Indy is move to become a fintech inauguration . In just a few months , the startup will offer a detached business banking company account with a payment card . Once again , it makes sense to cluster this service as current customers have to tack between their banking app and Indy to control their business finances .
Current companies working on patronage banking , such asQontoandShinein France , focus heavy on pocket-size and medium companies . They do n’t have a basic product offering with basic features that would exercise well for freelancers . “ Business banking for a ego - apply somebody is pretty canonic — they want to place money via a transferral , receive money via a transfer of training , have a payment card , and that ’s all there is to it , ” Fouques say .
And Indy can then leverage this fintech angle for other services . For example , the company could offer new defrayal methods for invoices , such as online calling card payment , QR code - base payments or using the smartphone as a contactless card lector .
“ As we offer all those features in the same help , we make vast economies of scale and we spare money on user acquisition costs , ” Fouques say . “ This entail we can pop the question a whole range of mountains of services destitute of charge — services which would otherwise be paid services somewhere else . At the same meter we have a hyper - salubrious , hyper - scalable model . ”
Some society have identified the same problem in the U.S. , such asFoundandLili — they ’ve both raised around $ 80 million according to Crunchbase data . Indy is n’t going to contend head word - to - caput with these well - capitalise companies . or else , the Gallic inauguration is looking at other European countries to see if it can replicate its service in other markets .
But Indy is still very much focussed on its home market as there are millions of ego - employed people in France . The market place opportunity is already important . And it sounds like Indy has found the right statistical distribution strategy .
