Asto, the Santander owned “upstart” developing financial tools for freelancers and SMEs, is adding invoice financing to its bookkeeping app.
The new offering, which potentially opens up so-called “micro-financing” to a much broader business market, comes hot on the heels of Santander Group acquiring Albert, an invoicing and expenses app for freelancers and micro-businesses. Albert’s functionality has now been integrated into Asto, with Albert co-founder Ivo Weevers becoming Asto’s Chief Product and Design Officer.
In a call, Weevers described Asto’s mission as wanting to create a “full-stack of financial services for self-employed people [and other micro businesses]. Financial services for SMEs is a “huge, fast-growing market,” he says, adding that Asto is innovating on the bookkeeping side, [while] other players on the market are working on the bank account side”.
“A lot of people