Why long payment terms are no longer a problem. Interview with BillFront MD Chris Vogt
Christopher Vogt is Co-Founder & Managing Director at BillFront with excellent track record in sales, marketing & growth in venture capital backed technology companies. His is focused on digital advertising and product-marketing, with strong mobile and online experience, B2B & B2C.
What is the business model of BillFront?
BillFront is an invoice financing provider focused purely on the ad-tech and digital media industry. Our solution gives our customers faster access to their revenues.
Our customers come from across the digital media spectrum, including DSPs, SSPs, Exchanges, Ad-/Affiliate Networks, Agencies, App-Developers and Publishers. We provide working capital financing; usually to bridge the gap between advertisers payments and publishers payouts.
BillFront finance provider
How do you help your customers?
Our customers suffer cash flow problems due to the long payments terms that pervade the industry as a whole. This puts them in a difficult position from a growth perspective. Publishers/suppliers need to be paid on time in order to not to adversely affect these important relationships. However, vendors can sometimes wait up to 120 days to get the payment from their customers. Often we see companies bridging this working capital gap with expensive equity capital which should really be used for investment in areas where it can be more developmentally impactful for the company’s growth such as technology, headcount and market expansion.
With our help, our customers profit from fast financing so that they can proceed on their path without going through the time consuming and complicated process of a bank loan which often is often very limited and restrictive in its scalability. We provide financings between 50.000 and several million Euro per month.
What is unique about BillFront?
Our speed and our technology. BillFront’s data-driven risk management methodology connects directly with our customers’ invoicing systems and automatically suggests eligible invoices for financing. We have a standard interfaces with most of the commonly known providers such as Xero, Quickbooks, Freshbooks, Sage, etc. We have also have built custom solution for our clients where it has been required. This unique technology allows BillFront’s customers to receive financing in a fraction of the time and effort compared to traditional finance providers.
What is the company’s background?
We launched BillFront in 2015 out of Berlin and London. My background is in AdTech, holding a leading position at a global demand-side platform from Germany. My Partner Greg was a Tech & Media Investment Banker for 13 years at JPMorgan & Deutsche Bank in New York, London and Hong Kong. Combining our expertise was the perfect match to start BillFront.
What is your goal for 2017?
Just like we enable our customers to grow even faster, we are also planning to extend our business with different products for digital customers at different stages of their development. If you are a digital ad-tech innovator we want you to think of BillFront as your first port of call for your financing needs.