Project Description

Skopje, North Macedonia
Established in 2020

infid.app

Company Teaser

The Mission

Infidia’s mission is to provide 360 order and invoice management for small and medium distributors and manufacturers, enabling seamless invoice financing.

The Vision

“Risk-free invoice financing for everyone.”

We believe that invoice financing should be accessible to every company, regardless of its size. However, we are aware of the many risks and limitations that these transactions impose.

Unlike other solutions that only verify an invoice in blockchain, we register every event that leads to invoicing in the seller-buyer interactions. For example, visiting stores, ordering, accepting orders, accepting, and diluting invoices) allows a lender to provide invoice financing with the lowest possible risk.

Therefore, Infidia is a seamless invoice financing based on full transparency of software-optimized processes. With Infidia, the approval runs seamlessly and fraud-free due to the unique tracking process. For financial institutions, Infidia brings fees with lower costs of credit checks.

We are working on new features that will further improve our services, such as data mining and machine learning algorithms, and migrating to post-quantum blockchain and cryptography. Since giving the value for both SMEs (liquidity and growth) and financial institutions (scalability and fees), the goal of Infidia is to develop into the invoice financing marketplace.

Infidia & BlockStart

By entering the BlockStart program, Infidia is getting a chance to complete the second phase of product development. Getting support in this phase is beyond valuable for several reasons. Apart from receiving the grant, the team is supported by experienced BlockStart mentors who can evaluate the product and advise on further development. Moreover, Infidia is getting an opportunity to test the product, get feedback from testers, and further refine it based on their inputs.

Before BlockStart, Infidia had developed a solution that helped small distributors and manufacturers manage their assortment and orders in retail stores. However, soon it became apparent that all the data processed through our platform is, in combination with invoice verification and data security enabled by blockchain, give an insight into a company’s business, thus reducing the risk for Lenders to provide them with invoice financing. Unlike other blockchain solutions that only verify submitted invoices and do the credit check, our software tracks all the transactions between the company and its client, leaving no room for fraudulent activities. With Infidia, all processes (from ordering to delivery and acceptance of an invoice) serve as recordings in the blockchain, allowing the tamper-proof verification of SME’s invoices for the invoice financing. Since any alteration of the invoice is transparent, a single transaction can’t serve as a security for multiple loans (“double spending”).

During the prototype and the pilot stages, Infidia seeks to improve this solution by the feedback of the testers. This phase’s final goal is to prove the product-market fit, growing Infidia into the invoice marketplace.

Being part of the BlockStart program will allow Infidia to refine its concept and position itself as a reliable partner to both SMEs and all financial institutions.

Meet the team

Mirko Kikovic (Co-founder & CEO) 

MSc in Economy, IT entrepreneur, mentor, and B2B sales lecturer for five years, developing software solutions as Certified Scrum Product Owner and solving problems of international companies. During the previous eight years of climbing the corporate ladder up to C-level positions, he was leading 300+ people and working with 600+ clients.

Dimitar Anastasovski (Co-founder & CTO)

MSc in Computer Science, a full-stack engineer, R3 Corda certified developer, working on multiple projects for Distributed Ledger Technology for more than three years. Creator of 15+ DLT solutions in Italy, he is recently recognized and listed as Blockchain Expert in the EU, lecturing at various events.

Milica Sokolovic (COO & Legal Advisory)

BSc Law, an experienced legal and business development professional, for the past five years working as a Head of Legal in Danish Startups. Besides expertise in corporate matters, IP, and IPO, she is managing multinational teams and mentoring 400+ people to develop their businesses.

Nikola Dameski (Senior Product Designer & UI/UX Designer)

BSc Graphic Design, UX/UI design expert that was working for Accenture Italia for six years – focusing on responsive web sites and native iOS and Android apps by working closely with developers. Nowadays, he is using his in-depth knowledge of Sketch, Photoshop, Illustrator, InVision to create beautiful, responsive websites and apps.

Vladimir Karatosic (Software Developer)

MSc Petroleum Engineering, React Front-end developer with 4+ years of software development, testing, debugging, and implementing new features, designs, and solutions for apps and websites. JavaScript devotee with an abundant knowledge of software and design.

Joseph Mwadime (Software Developer)

BSc in Computer programming, a software engineer for five years working for both Startups and established companies. While developing both hardware and software Startup, he mastered Web Development and Data Science while actively utilizing the newest technologies such as Blockchain.

Miroslav Milosevic (Sales & Marketing Operations)

MSc in Organizational Sciences, for two years working as a sales manager on both inside sales and trade fairs in Norwegian Startup. He used his previous eight years of experience in B2B sales to negotiate the company’s Key Account on a highly regulated MedTech market even before the first products have been certified.

Emil Panovski (QA Software Tester)

Manual and Automated Quality Assurance Software Tester working on several web-based and mobile applications. Creation implementation and execution of frontend and backend test cases. Automating scripts with Selenium WebDriver and Appium for regression testing. Executing non-functional test cases with Postman and Jmeter.

Marko Pavlovic (Payments Innovation Expert & Consultant)

MBA, Bsc of Commerce & IT, and CPA, with more than 16 years of experience both on the business and technology sides of Telecom, Retail, Quick Service Restaurants and Banking industries, with focus on payments strategy and solutions. He has led and participated in various cutting-edge technology and business initiatives as well as co-founding and running one Canadian Fintech Startup.

Djordje Petrovic (Blockchain Strategist & Consultant)

Diploma in Computer Networking and Telecommunication,  B.A. in IT Management, and M.Sc. in Blockchain and Digital Currencies, for more than 15 years an Information Technology leader. A wide range of consulting projects covering business, IT strategy, innovation strategy, application development, data analytics, UX/UI improvements, customer relationship management, and organizational design.

Funding received under BlockStart: € 1,000 (Ideation Kick-off)