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advanon.com

Founded Year

2015

Stage

Acquired | Acquired

Total Raised

$13.44M

About Advanon

Advanon is an online platform where SMBs looking for short-term financing can sell their invoices to financial Investors. Through the easy-to-use platform, SMBs can improve their cash balance instantly. Investors, on the other hand, get access to an alternative type of short-term investments.On May 25, 2020, Advanon was acquired by Creditgate24. The terms of the transaction were not disclosed.

Advanon Headquarters Location

Baslerstrasse 60

Zurich, 8048,

Switzerland

+41 44 585 38 50

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Expert Collections containing Advanon

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Advanon is included in 4 Expert Collections, including Wealth Tech.

W

Wealth Tech

1,793 items

A category of financial technology that is digitizing & streamlining the delivery of wealth management. Included: Startups that offer technology-enabled tools for active and passive wealth management for retail investors and advisors.

D

Digital Lending

1,603 items

This collection contains companies that provide alternative means for obtaining a loan for personal or business use and companies that provide software to lenders for the application, underwriting, funding or loan collection process.

S

SMB Fintech

1,145 items

F

Fintech

4,779 items

Track and capture company information and workflow.

Latest Advanon News

Phil Lojacono: ‘Be very critical with yourself, but also be proud of the positive decisions you took’

Jun 11, 2020

Phil Lojacono: ‘Be very critical with yourself, but also be proud of the positive decisions you took’ 11.06.2020 11:30, Isabelle Mitchell Meet Phil Lojacono, founder and CEO of Advanon, a Swiss financing platform. Venturelab sat down with him to talk about his entrepreneurial journey, including CreditGate24's acquisition of Advanon in May 2020. He shared the lessons he has learned, what he is proud of, and why he is optimistic about the future—despite the challenges of the monetary system. Advanon ’s About page describes a couple of students who met at Google in 2014 and shared a vision: to revolutionize the world of financing. You have come a long way since founding Advanon six years ago. How would you describe the journey so far? It has been an amazing journey, something I would have never expected. I always knew that it is certainly not going to be the easiest career path, but I had no idea about how difficult it really is. The successful days feel much more intense, but I think especially the difficult times are what makes the journey so much more interesting than a more traditional job. In hindsight, when you are in the middle of it, it is not really nice, to be honest. Looking back, I am really grateful for the steep learning curve I was able to experience and the trust some investors put in us, and I would not want to miss a second of the journey. What are some of the learnings that you will take into the future? What would you do differently, and what are you most proud of? I started to elaborate more on my learning on the blog  Berglinde . All in all, there are way too many learnings than I could explain here. One of the most important ones, though, is: I made the biggest mistakes when my self-confidence was the lowest. For future founders, I would strongly advise to be very critical with yourself, but also acknowledge and be proud of the positive decisions you took. When it comes to what I am most proud of, it is certainly the team. I believe we managed to create a culture in which a lot of the most talented people I ever met liked to work. Even during the very tough times, we stuck together to pull the company through the crisis. That was encouraging to see. Looking back into the more recent past: CreditGate24 acquired Advanon in May. Why will you be better together? CG24 has an impressive track record in securing funding, the complete contractual and financial setup, and the different products they are offering. Advanon, on the other side, lacked those skills but was always very strong on the engineering and innovation side. Together, we have financed more than CHF 620 million and are able to offer a comprehensive portfolio of products for the best use of our customers. Advanon has built a strong company culture that comes with many perks. How will you ensure that this culture continues to be a priority? We used perks to frame the culture in which we believed is the most effective to work in. Not everything worked out exactly as we planned, but all in all, I would consider the perk system a great success. I still have absolutely no doubt about the fact that the team is the most important resource in a company. Therefore, I will continue to be a strong advocate of a flexible, open, and performance-oriented culture in which the team is rewarded for their outstanding work in a way that goes far beyond money but is tailored to their needs and the company’s culture. The TOP 100 Swiss Startup Award is coming up. Advanon was among the TOP 100 Swiss startups for four consecutive years. How has the ranking influenced your career and your business? It was always a great honor to be recognized as one of the best startups in Switzerland by such a well-known jury. It helped us to gain traction and to widen our network amongst relevant people. In 2017, you were a Venture Leader Fintech . This year’s Venture Leaders are embarking on their road show in a few months. What advice do you have for them? Take as much as possible with you from the journey. Not everything that you will see on the other side of the Atlantic is better, but some parts certainly are inspiring. I believe, in the long run, we should aim to take the best of both cultures to be successful. As always, be open, share your experiences, take in what you believe others are doing better, and smile at the rest. Besides the professional part of the trip, make sure to enjoy the time with your fellow participants. I am still in contact with our group, and some hopefully very long-lasting relationships evolved due to this trip. Now, let’s look to the future. Let’s say we meet again in six years’ time to discuss how the events of 2020 impacted Advanon. How do you think you will look back on the acquisition and the wider COVID-19 pandemic in terms of learnings and opportunities? As always, a crisis comes with great opportunities. So, I believe, on a macro level, we will look back positively in six years and are astonished by the massive changes this pandemic triggered, or at least when it reached the tipping point. I think this goes far beyond Advanon, but the whole crisis made it obvious how broken the current monetary system is, and hence, I am a firm believer in disempowering individual institutions. And I think in six years, we might see the first positive results. Within the next two to three years, though, it is probably going to stay quite volatile—which is exciting. So I am very much looking forward to the future; I believe we live in an extraordinarily thrilling time, and I am very grateful for it. As for Advanon, it depends on how well we anticipate said changes and how well we are able to adapt to an ever-changing environment. So far, we have proven to adapt and endure challenges quite well. Hence, I hope in six years, we can look back and discuss what we have learned during these times and how Advanon improved due to this crisis. Advanon AG (acquired by CreditGate24): Disrupting the invoicing market Advanon is an Online Platform for invoice financing for Small- and Medium Businesses. By selling invoices on our platform, companies can easily manage their cash flows in a quick and flexible way allo... Read more Additional Links

  • When was Advanon founded?

    Advanon was founded in 2015.

  • Where is Advanon's headquarters?

    Advanon's headquarters is located at Baslerstrasse 60, Zurich.

  • What is Advanon's latest funding round?

    Advanon's latest funding round is Acquired.

  • How much did Advanon raise?

    Advanon raised a total of $13.44M.

  • Who are the investors of Advanon?

    Investors of Advanon include CreditGate24, VI Partners, Swisscom Ventures, Urs Wietlisbach, btov Partners and 3 more.

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