Charlie-India, the third investment of Virgo Ventures offers an innovative fintech solution, on a currently booming market.
Charlie-India is a white label data exchange platform that uses electronic invoicing, primarily for corporate and bank customers. The distributed network system developed by Charlie India allows different online billing providers to compete on the market with different solutions, taking into consideration the variant needs of each customer segment, but within a system where the data structure of different invoices can be matched to each other, and where sending and receiving of invoices generated by different invoicing systems is possible. In addition, Charlie-India aims to establish a system where banks operate as invoice-accepting centres, offering solutions for corporate clients, including accepting and storage (or even issuing) services concerning invoices. This is beneficial for both parties, as banks with increasing payment transactions will allow business customers to handle their invoices more easily, even with just one click. Thanks to this technology, large invoice issuers (e.g. public utility suppliers), enterprise ERP solutions, and other invoicing/accounting softwares can easily and quickly connect to the network, ensuring interoperability.
Virgo Ventures Technology Incubator has supported Charlie-India with HUF 75 million (capital investment and subsidy) and with incubation services (smart money).