French startup Upflow has raised a $2.7 million funding round (€2.5 million) from Kima Ventures, eFounders and various business angels. The company tracks your outstanding invoices and makes sure you get paid on time.

If you’re running a small company, chances are you’re using Excel spreadsheets to enter invoice information, check your company’s bank account every day and manually tag invoices that have been paid.

Microsoft Excel has been such a powerful tool for so many different use cases that plenty of startups are trying to replace it — I call this phenomenon The Great Unbundling of Excel. And Upflow is one of those startups.

If you want to replace a system that works well, you need to make it radically better. In order to do that, Upflow has created a payment brick that sits between your bank account and your customers.

Every time you send an invoice, you can write an email from the Upflow interface so that the entire sales team is on the same page. Making this experience collaborative with a software-as-a-service approach is already a big improvement over Excel spreadsheets.

Your invoice features banking information for your Upflow account. When your customer transfers the money, Upflow can instantly mark an invoice as paid. The startup transfers money back to your company’s bank account every day.

Over time, you get insights about your recurring customers, you can see how much money your clients collectively owe you and you can send reminders to late clients.

If you want to read more about Upflow, you can read my profile of the company.

Parallel Markets is a new startup aiming to make it as easy to buy and sell private company shares as it is to buy public company stock.

COO Nicholas Goss said this is becoming an issue for startups as they stay private longer, which means early employees can find their equity locked up for longer periods of time — and that’s assuming they can even afford to exercise their stock options.

“This is the type of thing that’s really changing the game when it comes to attracting talent,” Goss said.

CTO Brian Muller added, “There’s a pent-up demand, both for the ability to sell and the ability to buy … We’re bringing our platform into the mix to work directly with issuers to support that liquidity in a structured way.”

That idea of working with issuers (in other words, the companies whose stock is being sold) is a big part of what the Parallel Markets team said distinguishes them from other secondary marketplaces, which they described as focused primarily on targeting employees and investors with private stock. Co-founder and CEO Tony Peccatiello said that while these sales usually happen without involving the company throughout the process, Parallel Markets is taking a different approach, one that “puts the control over these transactions in the hands of a CFO.”

In other words, Parallel Markets will work with company executives to create what Peccatiello described as “structured liquidity events,” where employees can sell their stock to designated buyers at a given time. The platform also gives the companies additional controls, like setting floors and ceilings on the price per share.

Meanwhile, all the employees get notified when there’s an opportunity to sell their stock. And the sales are handled by Parallel Markets’ subsidiary broker dealer in a way that’s compliant with the various regulations.

Peccatiello said the startup — which has raised $1.4 million itself from friends and family — is already working with some initial partners, although it hasn’t actually powered any stock purchases yet: “We expect to be doing those in Q4 of this year.”

Goss (who previously worked as an IPO lawyer at Latham & Watkins, as well as on the investment banking team at Credit Suisse) predicted that over time, startups will make this a bigger part of their compensation packages, where it “almost mimics in reverse the vesting cliff,” so there’s not just a schedule for receiving stock, but also “when you can start selling into these liquidity events.”

Today, Parallel Markets is officially launching a new tool called Passport that Muller said was created for its own needs — namely, verifying accredited investors.

He explained that equity crowdfunding sites, plus other platforms that work with accredited investors, currently need to subject those investors to “a lengthy and arduous on-boarding process” that involves uploading a variety of documents to confirm their accredited status.

With Passport, on the other hand, investors can go through the verification process just one time. After that, when they’re looking to invest through a platform that uses Passport, they can simply click a button to give Passport permission to share their information.

“We looked for partners who could provide this, but we did not find anyone who could provide an ongoing identity verification tool that worked across multiple platforms,” Peccatiello told me in a follow-up email. “We want identity to be truly portable — not only on other third-party websites but also places like the blockchain, which provides an interesting use case with smart contracts.”

Updated to clarify Peccatiello’s comparison with other secondary markets.

Eyal Shinar: Your distinction between Kabbage and Ondeck, and Amex and Intuit is accurate. But I think it’s missing the big picture. You don’t need credit as a seller if you’re getting paid...

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Today’s 455th FREE online 1Mby1M Roundtable For Entrepreneurs is starting NOW, on Thursday, September 5 at 8 a.m. PDT/11 a.m. EDT/5 p.m. CEST/8:30 p.m. India IST. Click here to join. All are...

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Small business credit and receivables financing are going through enormous changes in the FinTech era. This interview delves into some complex issues. Fascinating discussion! Sramana Mitra: Let’s...

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Jeff has turned $1M of personal investment (with his Co-Founder) to $80 million in revenue. Pretty capital-efficient, this entrepreneur’s journey! Sramana Mitra: Let’s start with where your story...

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Depop started as a simple app to post photos of clothes and post them for sale. But it has become a cultural phenomenon with millions of users, a vibrant community and even some superusers making a living from the platform. That’s why I’m excited to announce that Depop CEO Maria Raga is joining us at TechCrunch Disrupt Berlin.

Many have tried to merge a social app with a shopping experience, but few have succeeded. Depop is one of them. If you’re an Instagram user, the app looks familiar with its outline icons. But instead of following brands and sometimes buying new items, Depop is all about vintage items, rare sneakers and things you simply can’t find on a regular social network.

Depop users can follow other users, discover items from their favorite brand, get personalized recommendations, and of course buy and sell items. It’s a social experience that works particularly well on mobile and makes shopping more personal.

Selling something on Depop is as easy as posting photos on a social app. You enter a description, a location, a brand and a price and you’re good to go. After that, other users can buy stuff directly from the app. You can then ship your items and get your money on your PayPal account.

And it’s been a massive success. There are currently over 13 million users — the vast majority of them are under the age of 26. The company has handled more than $500 million of gross merchandise value since its launch.

Interestingly, some superusers thrived on the platform. Those users are talented when it comes to spotting and acquiring limited-edition clothes, sneaker drops and other valuable items. They sell them on Depop with some of them generating as much as $100,000 of revenue per year.

Under Maria Raga, Depop has raised over $100 million. Earlier this summer, the company announced a $62 million funding round led by General Atlantic. It’s clear that Depop is now thriving as both a social app and a marketplace. And I can’t wait to hear how Maria Raga did it.

Buy your ticket to Disrupt Berlin to listen to this discussion — and many others. The conference will take place December 11-12.

In addition to panels and fireside chats, like this one, new startups will participate in the Startup Battlefield to compete for the highly coveted Battlefield Cup.

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Maria Raga is the CEO of Depop. Since being promoted to the position in 2016 from VP of Operations, she has presided over every element of the business from finance and engineering to marketing and product. An open and collaborative CEO, Maria is dedicated to her team, which has grown to 150+ employees in 5 offices worldwide in the last three years alone. Perhaps most importantly, since she took over as CEO, she has raised close to $100M in funding, which has helped to grow and nurture the community on Depop – now 13 million users.

Prior to Depop, Maria held successively roles at Groupon and Privalia. Having graduated from Insead MBA, Maria joined Bain & Company as a consultant.

Born in Valencia, Spain, Maria now resides in London with her husband and 2 children. In her spare time, Maria enjoys connecting with Depop’s entrepreneurial Gen-Z constituency and promoting women in the workplace

Hey European startup fans, Disrupt Berlin 2019 takes place on 11-12 December, but our super early-bird ticket pricing won’t last nearly that long. You have just three days left to save up to €600. Pay close attention to the deadline and buy your Disrupt passes by 11:59 p.m. (CEST) on 6 September.

You’ll save even more money if you act quickly enough and combine the super early bird price with our group discounts. Bring your whole team or gift passes to valued clients — that’ll impress for sure. Here’s what you’ll save by buying in bulk.

Join more than 3,000 attendees and hundreds of exhibitors at Europe’s premier tech conference focused on early-stage startups. Head to Startup Alley, the expo floor and Opportunity Central of Disrupt. Network like there’s no tomorrow, and don’t forget to check out our TC Top Picks while you’re there.

Better yet, why not apply to our TC Top Picks program? TC editors will choose up to five early-stage startups in these categories: AI/Machine Learning, BioTech/HealthTech, Blockchain, FinTech, Mobility, Privacy/Security, Retail/eCommerce, Robotics/IoT/Hardware, SaaS and Social Impact & Education.

If you make the grade, you’ll receive a free Startup Alley Exhibitor Package, VIP treatment at the show, lots of media and investor attention plus a live interview with a TC editor on the Showcase Stage.

If you’re ready to launch your early-stage startup to the world-wide tech community, we want you apply to the Startup Battlefield pitch competition. It’s free and participating can put your startup on the map. Consider our Startup Battlefield alumni community — 857 companies have collectively raised more than $8.9 billion in funding, with 112 successful exits. If you’re selected, you’ll join the ranks of this august group that includes Dropbox, GetAround, SirenCare, Fitbit, Mint, Vurb and more.

Disrupt Berlin always invites the tech and investment world’s top names, minds and makers to share their insight, advice and experiences covering a range of hot-button topics. Here are just a few of the fascinating people who will grace our stages: Maria Raga, the CEO of Depop, Hovhannes Avoyan the founder and CEO of PicsArt, Roxanne Varza, the director of Station F and Tom Hulme, a general partner at GV. That’s only the beginning — we’re adding more people every week, so keep an eye on our growing list of speakers.

Disrupt Berlin 2019 takes place on 11-12 December, but the super early bird ticket pricing disappears in just three days. Buy your passes now before the deadline hits at 11:59 p.m. (CEST) on 6 September.

Is your company interested in sponsoring or exhibiting at Disrupt Berlin 2019? Contact our sponsorship sales team by filling out this form.

Railsbank, the open banking and compliance platform co-founded by CEO Nigel Verdon, who previously founded Currencycloud, has raised $10 million in Series A funding.

The new injection of capital will be used for further expand beyond Europe, including the U.S., Australia and South East Asia. The latter includes a new office in Singapore where a small team has already been assembled.

Backing Railsbank’s Series A is Moneta Capital, which led the round, alongside CreditEase, Clocktower Technology Ventures, Singapore Life. A number of existing investors also participated including Firestartr.

In a call with Verdon, who was talking to TechCrunch from Singapore, he explained that the new office is part of a strategy that will see Railsbank ride the next wave of fintech innovation, which he says is happening in South East Asia and where the playbook from London and New York 2011 is being repeated.

“In 2011, [we] saw the emergence of the finTech 1.0 scene with people like Currencycloud (which I also founded), TransferWise, Betterment, Bank Simple etc,” he tells me.

“This was enabled by the opening up of regulation as the macro trend. We currently see [a] similar regulator macro trend in SE Asia emerging and also the macro trend of tech companies being the distributors of financial products driven by access to cheap smart phones by firms like Xiaomi”.

To that end, Railsbank is positioning itself as a “utility” on which other companies — spanning fintech upstarts, challenger brands, to incumbent banks that want to re-factor their tech — can build and sell various financial services or add fintech features to their products.

“Just like the water company – reliable, safe and works 24×7 and priced at utility pricing,” Verdon says of Railsbank, likening it to what Amazon has done for data centres with AWS. “Railsbank is a utility for the compete financial services backend: platform, connectivity, operations, scheme memberships (e.g. Visa), regulation, and compliance”.

As an example of what the Railsbank platform is capable of, Verdon described how SingLife was able within 2 days to develop a completely working digital banking app with a own debit card and support for bank transfers, including dedicated account numbers and sort codes etc.

This, he tells me, is made possible because the Railsbank platform and API provides all of the tech, compliance and integration “hooks” required to build a full banking experience.

Meanwhile, although the startup continues to count other fintech startups as customers, Verdon says Railsbank is also working with brands offering financial products (e.g. supermarkets, travel, retail) and what he dubs “old fin”: companies looking to replace their own costly tech with a platform solution.

“We are also working with banks to provide a complete utility infrastructure and payments/card/ops rails to reduce their… operational costs,” he tells me.

Deepen Parikh: We want to plan the infrastructure side. Obviously, 4G in India and the infrastructure that Jio has created is a game changer for a lot of content that is being consumed. Similarly if...

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Educational guitar maker Loog returned to Kickstarter this week, some eight years after it first hitting the crowdfunding site. This fourth campaign from the company features a trio of instruments aimed at helping accelerating the learning process.

There are three models, each aimed at a different age group: the Loog Mini (ages 3+), Loog Pro (ages 8+) and Loog Pro VI (ages 12+). The latter of which is the company’s first guitar to sport the standard six strings (versus the three it usually offers).

All have a built-n speaker and amp, reducing the need for additional accessories for a kid’s first instrument. They’re also designed to work with the company’s app, which now utilizes augmented reality (guitAR, if you will), to overlay instructions when using the front facing camera on a mobile device. The are flash cards (for chords), videos and games on-board, as well.

The app also has a song book, featuring a wide variety of popular artists, ranging from The Beatles to Taylor Swift. Kids can slow down and mute tracks to play along karaoke-style, while recording themselves in the process.

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Kickstarter prices start at $99 for the Mini, versus $150 at retail. The company keeps going back to the crowdfunding well, but the model has worked pretty well so far. Loog’s started to gain some traction in the music education world and, as evidence by its Kickstarter video, landed in the hands of a couple of actual rockstars in the process.

Reach Robotics, the company behind the spider-like MekaMon robot you might’ve seen on the shelves at the Apple Store, is closing down.

Billed as the “world’s first gaming robot,” MekaMon is part video game, part STEM tool. You could plop it down on the carpet and point your phone at it to battle virtual augmented reality enemies, face off against other MekaMon owners in multiplayer battles or build custom programs for the robot on top of Apple’s Swift Playgrounds.

Here’s a video we did on Reach Robotics a few years back:

Reach Robotics was founded in 2013. They released their MekaMon robot in November of 2017, just a few months after raising a $7.5 million Series A.

News of the shutdown comes from Reach Robotics co-founder Silas Adekunle on LinkedIn (as first noted by The Robot Report), where he writes:

The consumer robotics sector is an inherently challenging space – especially for a start-up. Over the past six years, we have taken on this challenge with consistent passion and ingenuity. From the first trials of development to accelerators and funding rounds, we have fought to bring MekaMon to life and into the hands of the next generation of tech pioneers.

Unfortunately, for Reach Robotics, in its current form at least, today marks the end of that journey.

It doesn’t sound like Adekunle is finished with robotics altogether though. In a public Instagram post, he notes that while “Reach Robotics is closing down today due to tough business circumstances,” he is “looking forward to sharing some exciting new ventures in the Robotics space in Europe and Education in Africa and the Middle East.”

Co-founder John Rees, meanwhile, writes on LinkedIn:

I’m still taking stock of it all but the short version is that it is true what they say – that “hardware is hard” and consumer hardware is even harder due to the reliance on the Christmas sales period.

2019 has been a fairly brutal year for consumer robotics. In March, Jibo, a social robot meant to be cheery and entertaining, personally delivered to owners the news of its impending shutdown with an oh-so-depressing shutdown speech:

“Maybe someday, when robots are way more advanced than today, and everyone has them in their homes,” said the robot, “you can tell them I said hello.”

Anki, creator of self-driving RC cars and the WALL-E-like robot buddy Cozmo, shut down in April.