1 Startup · $8M · Embedded Invoice Financing

What they're building

Aria embeds invoice financing directly into the B2B platforms where work already happens — marketplaces, ERPs, and vertical SaaS. Via API, a supplier gets paid the moment an invoice is approved while the buyer keeps standard 60-day terms; Aria buys the invoice and, under the new structure, transfers receivables into a bankruptcy-remote securitisation fund led by Nomura, which issues securities backed by buyers' future payments — cash recycles as invoices settle. It's factoring rebuilt as infrastructure, without factoring's rejection rates. The platform advanced 1.7 million invoices in 2025 and over 1.1 million more in the first half of 2026, powers 70+ of Europe's largest B2B marketplaces and freelance platforms including Malt and Job&Talent, has processed more than €1.5B since launch, and holds a default rate below 0.1%.

Why this matters

Late payments are Europe's quiet SME crisis — the EU Payment Observatory suggests resolving the bottleneck could unlock over €100B in annual cash flow, and Aria's CEO likes to note owners spend an average of 86 hours a year chasing payments. What makes this round interesting isn't the €7M; it's the structure around it: a Nomura-led securitisation and La Banque Postale's venture arm (115K) taking a board seat is institutional validation that the credit engine works (that sub-0.1% default rate is the moat). Founded in 2020 by CEO Clément Carrier and COO Vincent Folny, Aria now plans to push its AI-driven underwriting into heavier verticals — manufacturing, construction, transportation — where invoice values are larger and incumbents are weakest. Embedded B2B financing is consolidating; Aria just bought itself the balance sheet to win its corner of it.