#ROY LUO ICONIQ SOFTWARE#

Now, let us tell you the numbers and market we care about: Looking forward, experts expects the market to reach US$ 29.68 Billion by 2027, exhibiting a CAGR of 21.5% during 2022–2027. The global e-invoicing market reached a value of US$ 8.74 Billion in 2021. Therefore, their timing to launch was key.Ī few cool and big numbers to make us look good: If they launched 10 years earlier, they might have failed quickly, or if they launched 10 year in the future, they might have been too late in the game. As a result, the regions governments invoicing transition plays a huge role for InvoiceQ to succeed. Thus, it will no surprise if other countries follow suit and e-invoicing becomes the norm across the region. Similarly, Jordan is in the process to select the tax department e-invoicing system. While other nations like Qatar and Oman are in the process of making it a must for businesses to use e-invoicing. That is a huge infrastructure problem that needs a solution, especially since E-invoicing is now mandatory in a few countries in the Middle East like KSA, Egypt. The e-invoicing space barely exists in the Middle East, but it is abundant in the western world. In terms of team, all three founders check the box. The InvoiceQ team has that in both technology and accounting. The founders compliment each other so well, while also having a great relationship that dates back 5+ years!Īt Propeller we like to invest in founders that have great technical know-how. These guys mean business! However, it gets even better. He worked at BioLabs for a while, Abu Khader Automotive, Alfanar, and not surprisingly, Madfooatcom for 4 years. Muhannad Tobal - An accounting graduate that worked in many different business sectors.

#ROY LUO ICONIQ SOFTWARE#

He worked at ProgressSoft for 8 years, was the CTO of MadfooatCom for a while, and was an Engineering Manager at Expedia for 2 years.Īmer Ayyad - A computer information systems graduate that worked as a software developer at Aspire Services for two years, Mstart for two years, and MadfooatCom for around 7 years. Just look at their credentialsįadi Aljabali - a computer scientist that worked at great companies in the past. We think we found a well experienced, smart, and focused founding team. Large Enterprises like InvoiceQ because their existing enterprise solutions, such as ERPs, can be easily integrated with the InvoiceQ platform via its API integration gateway, which significantly reducing the cost and time for businesses to deploy e-invoicing. The solution offers subscriptions that fits all businesses from freelancers all the way up to large enterprises. InvoiceQ is a platform that is designed to simplify, centralize, and enhance the entire invoicing lifecycle from receipt issuance to payment collection. Therefore, in this blog, we will address five main reasons why we decided to invest in InvoiceQ.īefore we jump onto the reasons, let us tell you what InvoiceQ does: The list of reasons and opinions of why a startup will succeed is long. Bill Gross talks about it in this TED Talk. On the other hand, Some investors argue that timing is everything when it comes to launching a product. In fact, he argues that a bad team in a good market might succeed, but a great team in bad market never will. For example, Marc Andreessen, the cofounder of Anderson Horowitz, argues that the market is the most important thing for a startup to succeed. Some reputable investors might even disagree about the team being the most important aspect for a startup’s success. However, much more is taken into consideration when investing in startup. They will go on and on about how the team is everything and how good teams are be able to figure it out along the way. All venture capital investors will tell you to invest in great teams.

Roy luo iconiq