Comment – SME cashflow management solution. Built in Latvia is the startup company that participated in Rietumu Fintech Challenge in 2015. They didn’t win the competition, but got many contacts and support from Rietumu Bank that helped them succeed. is all-in-one invoicing and payments solution and is now open to merchants from 40+ countries and 13 currencies. The team started in 2015. When they applied for Rietumu Fintech Challenge, they had sketches and product in the development stage. "We were brave enough to share our ideas. And that’s what I can suggest to everybody – don’t be afraid that somebody will steal your concept. Everybody is busy with their own projects. Instead I met a lot of people from the fintech industry during the event that helped me to understand the most important thing - whether our product is viable," says CEO of the company Jevgenijs Novickis.

There’s been a lot of problems with the cashflow management for small and medium enterprises (SME) all over the world. This is the problem that company is trying to solve. "SME representatives are spending so much time on creating invoices, sending them out, receiving them and managing payments. We have made automatization for all of these processes," says Mr Novickis. Swipe declares that 70% of client’s invoices are paid on time with their solution, because there should be just two clicks to do that. The platform remembers card details and offers recurring payments. "Number of customers is raising by 25% every month. And we have more fresh and innovative ideas to come up with already this year. Our goal is to make our service even more available for merchants and their customers," says Mr Novickis.

After the competition, the team got support from Rietumu Bank – it gave access to the platform that used for the product development. "We were very lucky and happy to start working with such a reliable partner as Rietumu Bank is. Currently we are focusing on the development of our platform. Bank helps with setting up all processes. Our service is available all across the Europe. We are cooperating with more than 300 merchants and creating new products all the time. Two years – it is short period for the fintech startup to succeed, but we have found the problem to solve. We are looking for solutions to help people in their daily operations with money. Solutions should be creative and innovative, because there is a huge competition in the fintech field," Mr Novickis shares his story.

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