Billogram, a digital invoicing platform, has closed a funding round with $45 million from investor Partech, according to a press release emailed to PYMNTS.
The company was founded in Sweden in 2011 to digitize paper invoices. The product has also evolved over the years into a software platform working with customer relations to stop churn and obtain payments on time, the release stated.
With the new capital, the company plans to expand into six new markets and double its workforce, according to the release.
Partech is a global tech investor firm that has invested in European companies like Ecovadis, M-Files and Sendinblue, as well as unicorns such as Jellysmack, Rohlik, Sorare, Toss and others, the release stated.
“We need to expand into Europe to continue our growth, and Partech is the perfect partner to help us do so,” said Billogram CEO Jonas Suijkerbuijk in the release. “They are not only an intelligent and pragmatic group of people but are also experienced in our field and know how to tackle the challenges we face. The Partech motto is ‘think bold, move fast and be fair,’ and this is something that genuinely resonates with Billogram’s beliefs and inspires our approach to international growth.”
Partech praised Billogram for helping to close a gap in the market and building “the most advanced platform for large B2C enterprises looking to integrate billing, payment and collection in one single solution,” per the release.
“In our discussion with leading utilities, telecom, eHealth, and all other clients across Europe, we realized how valuable Billogram was for them in order to engage with their end-users through a top-notch billing and payment experience,” said Partech General Partner Omri Benayoun in the release.
In other digital invoicing news, a partnership between FourQ and Pagero announced earlier this month will see the two companies working to streamline eInvoicing and intercompany automation.
Read more: New Partnership to Meet the Challenges of Global eInvoicing, Intercompany Automation
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