In a significant stride toward transforming billing processes for mid to large businesses, Utrecht-based Solvimon has successfully raised €9 million in a seed round led by Northzone and a group of strategic business angels. Co-founded by Kim Verkooij and Etienne Gerts, former VPs at Adyen, Solvimon’s innovative platform aims to eliminate the barriers associated with flexible pricing strategies.
Powering Pricing Evolution
Solvimon’s platform is designed to empower businesses by operationalizing modern pricing methods, including the highly efficient ‘usage-based’ model. In this paradigm, customers pay for the actual consumption of a service. Additionally, Solvimon facilitates hybrid models, seamlessly combining usage-based approaches with traditional, user-based subscriptions.
Industry Veterans at the Helm
Co-founders Kim Verkooij and Etienne Gerts, who previously collaborated at Adyen, recognized the growing need for billing solutions that align with emerging technologies like AI, which are accelerating the adoption of usage-based pricing models. Both Verkooij and Gerts played pivotal roles in developing Adyen’s internal billing engine, which needed to support a global scale, tailored enterprise contracts, and a usage-based model.
Addressing a Clear Need
Kim Verkooij, CEO of Solvimon, highlighted the existing gap in the market: “While there has been innovation in pricing and metering solutions, businesses are still underserved. There is a clear need for a flexible, yet end-to-end billing platform.” She expressed excitement about partnering with Northzone, emphasizing their profound understanding of the challenges Solvimon aims to address.
Tackling Adoption Barriers
Research from the Venture Fund Openview indicates that three in five software companies already offer usage-based pricing. However, the complexity of implementing such billing models at scale using legacy or homegrown systems remains a major obstacle. Solvimon seeks to bridge this gap by providing a low-code, real-time platform that simplifies the implementation of various pricing models.
A Unique Proposition
Founded in 2022, Solvimon distinguishes itself from point solutions by offering a comprehensive, end-to-end solution. Unlike systems that address specific aspects of billing, Solvimon handles the entire monetization process. From deal terms generation by sales teams to revenue reporting by finance teams, Solvimon ensures a streamlined operation and provides a single source of truth for all pricing and revenue data.
Investor Confidence
Michiel Kotting, a partner at Northzone, commended Solvimon’s founders for their unique insights and deep understanding of pricing complexities for larger companies. Billing and pricing software, according to Kotting, are mission-critical, emphasizing the strong demand for a sophisticated end-to-end solution.
Looking Ahead
With the newly secured funds, Solvimon plans to expand its team and further accelerate its go-to-market strategy. As more businesses gravitate towards flexible pricing models, Solvimon stands poised to play a pivotal role in shaping the future of billing solutions.
