An Israel based technological start-up, INVioU is on its way to raise $2 million to develop a Blockchain-powered invoice solution. The solution aims at delivering a service where SME companies can generate Blockchain powered Invoices that enable for quick verification and payment from the credit provider side. The company has already raised almost $300,000 so far, as per the industry reports.

There is a rare chance of the invoice to get tampered owing to their secured presence inside a Blockchain network. They will be encrypted and moreover, there will be a transparency to all participants about the entire invoice generation from the starting. This will not only minimize the risk but also add another layer of trust between the issuer of the invoice and credit provider.

According to the company, it takes only a single day for the application to complete the initial onboarding process of the first invoice. Also, making recurring invoice financing is much faster than the former process. The entire application has been designed to meet the compliance standards set by the European General Data Protection Regulation (GDPR).

In one of its official statement, the company has represented itself as a team of experienced entrepreneurs having the detailed knowledge of Crypto and Blockchain know-how. The company has Dror Shapira as its the chief executive officer and Yair Zehavi as the chief product officer responsible for the core development of the project. The company is also interested in setting up the Israeli national savings exchange where Yair has worked as the deputy CEO and VP of operations and products.