Duqu raises €1.5M to give businesses faster access to working capital

Amsterdam-based fintech startup Duqu has successfully raised €1.5 million in pre-seed funding from VC firms Curiosity VC and No Such Ventures. The company specializes in providing short-term advances against outstanding B2B invoices and employs AI-powered underwriting technology. Duqu aims to bridge the gap between businesses earning money and receiving it in a timely manner, as many Dutch companies delay invoice payments by an average of 46%.

This leads to businesses waiting to cover essential expenses such as salaries, inventory, marketing, and workforce expansions. The platform evaluates outstanding B2B invoices and offers advances, allowing businesses to retain ownership of their invoices and maintain control over customer relationships. Unlike traditional factoring, no minimum or maximum amounts apply, and fees are only incurred when an advance is used.

Once approved, funds are transferred within 24 hours, often as quickly as an hour. Duqu's co-founder, Maas de Goede, emphasized that while businesses can now accomplish tasks promptly, delays in receiving payment persist, hindering business growth. In addition to its financing platform, Duqu has dedicated the past 18 months to developing its AI-powered underwriting engine, which currently automates approximately 95% of the credit assessment process.

The technology is modular and can be utilized by banks, lenders, and leasing companies as a white-label solution to assess applications according to their own credit policies. The newly acquired funds will be allocated to expanding both Duqu's working capital platform and its AI-powered underwriting technology.