Bizzi, a Vietnamese startup providing automatic invoice processing solutions based on machine learning, has just made a strong impression when it successfully called for investment capital from venture capital fund 500 Startups Vietnam.
Although the amount of seed investment was not disclosed, this event marked an important turning point in Bizzi's development journey, affirming the potential and breakthrough ability of this startup in the field of financial technology. The company was founded by CEO Nghia Vu and CTO Nguyen Nguyen. Both founders have many years of experience in global corporations such as Unilever, GlaxoSmithKline, Rocket Internet...
500 Startups Vietnam is a globally famous venture capital fund with the mission of empowering talented founders. Since its establishment in 2010, the fund has invested capital in thousands of startups in more than 74 countries, contributing to creating resounding successes. 500 Startups Vietnam's investment portfolio includes famous names such as Twilio, Credit Karma, Grab, Carousell and Wildfire (acquired by Google).
Market needs and solutions Automated invoice processing by Bizzi
Manage electronic invoices is a painful problem for many businesses, especially SME businesses. Manually processing hundreds or even thousands of invoices each month takes a lot of time and manpower, and carries a high risk of errors.
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Bizzi was born to solve this problem by providing solutions automation entire electronic invoice processing process. The Bizzi Platform can:
- Automatically received: Bizzi provides each business with a separate email address to receive electronic invoices from suppliers.
- Automatic data extraction: Bizzi uses machine learning technology to automatically extract important information from invoices such as invoice number, date, supplier, amount, tax code...
- Store invoices: Bizzi stores electronic invoices securely, scientifically and easily.
- Checking for validity: Bizzi automatically checks the validity of electronic invoices based on tax authority criteria.
- Connect to accounting software: Bizzi can connect with popular accounting software to automatically synchronize invoice data.
Advantages of Bizzi solution
- Save time: Bizzi helps businesses save 80% time in processing electronic invoices compared to manual methods.
- Cut the cost: Bizzi helps businesses reduce human resources costs and invoice management costs.
- Increase quality: Bizzi helps improve financial management efficiency, reduce errors and risks.
- Easy to use: Bizzi interface is simple, easy to use, suitable for all types of users.
Achievements and development potential
Bizzi has been trusted by hundreds of businesses in many different fields such as DKSH Vietnam, 3A Nutritions, GS25... This startup has also received many prestigious awards such as First Prize of the Ho Chi Minh City Creative Startup Competition 2020, Second Prize of the National Creative Startup Competition 2020...
With “electronic invoice” market In an increasingly developing Vietnam, Bizzi possesses enormous development potential. This startup aims to become the leading electronic invoice management platform for SME businesses in Vietnam.
Successful and meaningful capital raising round
The successful seed capital round from venture capital fund 500 Startups Vietnam is a testament to Bizzi's development potential. This investment will help Bizzi continue to develop technology, expand markets and improve competitiveness.
Bizzi Is one startup full of potential for solutions “electronic invoice” Smart, effective. The successful capital call from 500 Startups Vietnam is an important stepping stone for Bizzi to conquer the market and carry out its mission of simplifying and digitizing financial activities for SME businesses in Vietnam.
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