Libeo raised €20 million Series A in funding from DST Global, Serena, LocalGlobe and Breega.

Libeo, a Paris, France-based SAAS developer for Accounts Payable management within small and medium businesses, announced the completion of a €20 million ($24.3M) Series A in capital funding.

The money was raised from new and existing investors, including DST Global, Serena, LocalGlobe and Breega. Proceeds will be used to accelerate the company's business expansion.

Libeo, founded in 2019 by Pierre Dutaret, Jeremy Attuil and Pierre-Antoine Glandier, developed a software management tool for corporate finances automating the accounts payable processes, with a plug and play API working with various complementing tools. The company says that now operates B2B payments totalling €100 million on a yearly basis.

Libeo previously raised $6.6 million, with a €4 million ($4.3M) seed round led by LocalGlobe in April 2020.