Hummingbill

Hummingbill operated as a B2B invoice and accounts receivable management platform, focusing on enhancing operational efficiency for both vendors and enterprises. The company was founded in May 2014 by Adam Walker. An alumnus of Carnegie Mellon and Rochester Institute of Technology, as well as a Ewing Kauffman Global Scholar, Walker had prior entrepreneurial experience founding a smart meter venture and a small wind turbine company. He leveraged this international business experience to develop Hummingbill's customer base.

The company initially launched in Kenya to leverage mobile money and SMS for billing in emerging markets before shifting its focus to India later in 2014 to pursue a larger market. Hummingbill's core product was a software solution, notably featuring a Gmail plugin, designed to streamline the accounts receivable process. This tool automated client follow-ups, generated accounts aging reports, and provided sales teams with direct access to their customers' outstanding invoices within their email interface. For suppliers, the platform offered electronic invoicing and AR management to accelerate payments and create predictable cash flow. For enterprise clients, it aimed to empower accounts payable departments, reduce shared services costs, and improve vendor relationships. The company offered a free tier for single users and a paid enterprise package that included payment gateway integration.

Throughout its operation, Hummingbill raised a total of $255,000 in funding from investors including Africa Angels Network, Start-Up Chile, and VentureWell. In a significant milestone, the company was acquired by KredX, an Indian invoice-discounting marketplace, in March 2017 for an undisclosed amount. The acquisition was aimed at strengthening KredX's technological capabilities in accounts receivables. As part of the deal, the Hummingbill team, including its founder, and its 500 merchants were integrated into KredX.

Keywords: Accounts Receivable management, B2B invoicing platform, invoice automation, Gmail plugin, cash flow management, accounts payable, supplier financing, electronic invoicing, Adam Walker, KredX acquisition, AR automation, invoice tracking, financial technology, emerging markets, SME financing, invoice discounting, Tally integration, vendor payments, receivables management, billing software, workflow automation