Instant Invoice Recognition: Whitepaper

Instant Invoice Recognition: Whitepaper


Invoice Recognition Without Additional Knowledge

Most invoice recognition systems require machine learning (time and many invoices with the same structure) or human intervention. This system instantly provides results without additional knowledge.

It also provides meta data for recognized invoices, which helps accounting software to save better quality data.

Who We Are

Filip — CEO adviser, CEO, CEO, Founder
20 years in IT industry

Alex — CTO adviser, CTO, CTO
Startups Adviser
20 years in IT industry


(The system is protected by a Lithuanian patent)



  • 99% of invoices are processed manually
  • Accounting Companies (AC) need them for reducing costs
  • Existing solutions: require human resources, require machine learning, can't provide instant results
  • Inability to work with unknown invoice structure

Whole Market Size:

400M+ SMB's x 50 invoices (per month) = 2T+ invoices (per month)

Potential Market:

2T x 0.1% = 1B invoices to recognize

Potential Revenue:

1B x €0.01ct = €10M/month



  • Direct sales
  • Free version (Freemium)
  • Google SEO
  • Word of mouth


  • Accounting software (1:many)
  • Enterprises


  • Potential Market Penetration


  • Provides meta-data with invoice (not only data)
  • Started as patented technology (URL i patenta)
  • Knowledge helps, but not required
  • Instant recognition


  • PHP, PostgreSQL, OpenCV, Teseract OCR
  • Patented technology
  • Inhouse development


  • Google and Amazon totally change their algorithms

Investment Timeline:

  • 6 mon: €90K — launch MVP and start sales (lt, ru, en)
  • 6 mon: €120K — position recognition
  • 6 mon: €180K — better quality, 5 markets, more languages
  • 6 mon: €180K — break even

Revenue Projections:

  • 6 mon: €0
  • 6 mon: €20K
  • 6 mon: €60K
  • 6 mon: €120K