Willa Pay in a $18 million funding round led by the American Fintech Collective

Willa Pay, a Stockholm, Sweden-based startup providing a mobile service for freelancers, announced an $18 million Series A round.

The money was raised from investors led by New York-based FinTech Collective, including additional investments from Entrée Capital and EQT Ventures.

Willa, founded in 2019 by CEO Kristofer Sommestad, Stefan Pettersson and Peter Blom, is working for launching a service called Willa Pay, aimed to provide freelancers help with paperwork related to their invoicing as well as with financing options. Freelancers receive their money in less than 30 seconds, and their clients can pay later on their own terms – i.e. in 30, 60, or 90 days.

Willa replaces the traditional invoicing process for freelancers. Instead of creating invoices and sending them to clients – often waiting 30/60/90 days to get paid – requests are sent and processed in seconds, and funds are available immediately. The client can then pay later at their own terms. Vendor forms and paperwork is automated, and the entire process is compliant with regulatory requirements.

The service is available via a mobile app on an invite-only beta mode - the company says it is also working to launch a debit card and additional services centered around financial wellness for freelancers.