Former Stripe

There’s some exciting news in the fintech startup world today: Former Stripe engineer and Co-founder André Staltz has raised $4 million for Beam, a U.S.-based invoicing platform out to help freelancers and contractors get paid faster.

Beam is excited to receive this support from leading venture capital firm Z™ Capital. “This money is going to help Beam become the go-to place for any kind of cash flow related issues,” said Staltz. “We will be able to develop the technology, expand our partnerships, and sharpen our operations to make sure freelancers and small businesses get paid faster.”

Beam’s mission is to provide a “freelancer wallet,” essentially a virtual safe where freelancers can store, track and receive their payments at any time, from anywhere. By making use of a sophisticated AI-based matching system, Beam can piece together disparate data points, creating invoices that accurately reflect the task performed and the work completed.

This is a great resource for many freelancers who still get paid with checks, which manually require contractors to process, deposit and wait days, if not weeks, before they can access their own money. By leveraging the Beam platform, freelancers can receive, store and track their payments faster, all from the safety of the Beam wallet.

The invoice processing industry is becoming increasingly crowded, but Beam stands out for its focus on accuracy and speed. With the new funding, Staltz and his team are looking to expand the platform by adding more payment channels, internationalizing their offerings and partnering with more businesses and freelancers.

Beam is also looking to gain some ground in the emerging “gig economy,” which is rapidly shifting towards an on-demand, freelance- and contract-based model. As the demand for freelancers continues to grow, Beam knows that they can offer a powerful solution to those needing to get paid quickly and accurately.

Given the state of the market and the increasing demand for faster invoicing solutions, it’s not surprising that Beam has raised this level of investment. It will be interesting to see how they use the money to support their freelancer users and expand the platform. Here’s to André Staltz and the Beam team!