Ex-VCs Paul Jozefak and Michael Backes set up Liquid Labs in Hamburg in early 2012. It’s not an accelerator or incubator – instead, it builds new products on behalf of its corporate partner with the goal of spinning them off into separate companies.
Liquid Labs has launched at least four products so far: receipt-tracking tool Mavendi (now scrapped), anti-fraud tool Device Ident and online financing company Kreddible (both now separate companies) and now Reskribe. The latter is aimed at companies who need to handle recurring payments – use cases listed on the website include a grocery-box delivery company, an accounting software provider and a co-working space.
Reskribe – out to tackle US giant Zuora?
The new product costs between €0.20 plus 1.25 per cent for startups and more for professional and enterprise companies. It’s currently available only in Germany.
There are several other companies offering tools to take subscription payments. Stripe and its Rocket Internet-backed European copycat Paymill offer easily-integrated APIs to do the job but are not specialist. A much more likely rival for Reskribe is Zuora, a heavily VC-backed US subscription billing service that counts Dell, Box and Zendesk among clients and doubled its customer base in Europe in 2012. Others with similar services active in the US include Recurly, SaaSy and Chargify.
The point of difference for Reskribe, Liquid Labs’ Backes said, is that it’s specifically designed to handle recurring payments – and for this side of the Atlantic. “For example, if someone prepays for a year here, the accounting for revenues is completely different. We’ve taken that into consideration because the last thing you want is to get yourself set up on a subscription management system and then have accounting problems.”
Featured image credit: Flickr user zhouxuan12345678
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