InvoiceMate on ICP

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Project Highlights: InvoiceMate’s Three Canisters on ICP

InvoiceMate is a next-generation invoicing infrastructure that enables:

  • SMEs sustainability by getting access to working capital finance

  • Lenders profitability by reducing their risk and diligence work

Web3 Advantages

The shift from traditional invoicing and payment systems to a blockchain-based solution removes the need for third-party intermediaries. This transition enables direct and secure interactions between businesses and their clients. Our canisters offer functionalities like invoice creation and management, automated payment systems, and financial services directly on the blockchain, fostering independence and transparency.

How is it Built?

InvoiceMate is built on the ICP network, with each canister serving specific functionalities:

  • Invoicing Canister: Manages the creation and life cycle of invoices, ensuring secure and immutable record-keeping.
  • Payment Canister: Automates the payment process between parties, linked directly to the invoicing system for seamless transactions.
  • Finance Canister: Offers financing options, allowing businesses to secure funds against their invoices.

These canisters are integrated with a user-friendly frontend, facilitating easy access and management.

Internet Computer Superpowers

The ICP blockchain’s robust architecture allows seamless handling of complex invoice and payment data and its corresponding financing; we use its stable memory to handle data. It enables HTTP outcalls for direct communication with our application simplifying development and maintenance.

Go-to-Market Strategy

InvoiceMate plugs into digital supply chains and B2B marketplaces to onboard SMEs in Bulk. In addition to this, InvoiceMate has also corporate clients like SALIC and Vostad which use the Invoice Management system on top of their existing ERPs.

Monetization Model

The primary monetization strategy involves fees for services rendered, such as invoice processing, payment handling, and financing facilitation. This model ensures a sustainable revenue stream while providing immense value to users.

Project Status

Currently, InvoiceMate operates in 2 countries and has processed over 114 Million USD+ in Invoicing value on its platform. In addition to this, InvoiceMate has enabled more than USD 1.2 Million worth of Financing for its 1000+ B2B Clients.

Future Plans

Looking ahead, InvoiceMate plans to expand its services by providing invoice tokenization to DeFi Liquidity Providers. The goal is to evolve into a comprehensive financial platform for SMEs, leveraging the full potential of the ICP blockchain.

Resources

Finance Canister:

https://a4gq6-oaaaa-aaaab-qaa4q-cai.raw.icp0.io/?id=sosz5-ciaaa-aaaap-abueq-cai

Payment Canister: DFINITY Canister Candid UI

Invoicing Canister:

https://a4gq6-oaaaa-aaaab-qaa4q-cai.raw.icp0.io/?id=2yfec-haaaa-aaaap-absmq-cai

InvoiceMate App

8 Likes
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congrats on the launch, hope it goes well

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Is this just aimed at a B2B market, or is it a good choice for freelancers as well?

My work flow is niche because I do a mix of bounties, DAO contributions and other one off jobs.

I’m not seeing the ability to be paid in ICP, is that an option?

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Cool project and congrats for the launch! Do you think you can make use of verifiable credentials in certain steps of your app? In addition, we have some experience with credential-based invoice tokenization. Would love to chat about it.

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It is primarily a product for SMEs but Freelancers can use it to manage their business as well and also receive payments in ICP externally (not with in the platform)

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Thanks, would love to hear more about what you are doing.

You can reach out to me at ibrahim@invoicemate.net and we can explore synergies.

1 Like