Swedish invoicing platform Billogram has raised 150 million Swedish kronas ($13.9 million) in an investment round to accelerate its growth in the DACH region — Germany, Austria and Switzerland — as well as the rest of Europe.
Two-thirds of the total amount raised came from Swisscom Ventures, the venture company of Swiss telecom company Swisscom, which led the round and will work closely will Billogram to speed its growth, according to a Tuesday (Aug. 30) press release.
“The fact that one of Europe’s largest telecom companies sees the potential in our business and the benefit of our platform is, of course, seen as very important evidence in our internationalization,” Billogram CEO Jonas Suijkerbuijk said in the release.
Founded in 2011, Billogram offers an invoicing platform for businesses with recurring payments. Its customers include firms in the telecom, energy, mobility, finance and security industries, according to the release.
The platform uses smart technology to help these companies lower costs, increase revenue and reduce churn by strengthening their relationships with customers and automating their payment processes, per the release.
“Billogram is in many ways a unique player in Europe,” Swisscom Investment Partner Pär Lange said in the release. “Based on our expertise in, and experience from, the telecom industry, we are impressed by how they have managed to create a modern, digital customer experience with their platform and thus a future-proof invoicing solution.”
This investment round comes a year after one that raised $45 million from global tech investor firm Partech, which participated in the latest round as well.
Read more: Billogram Closes $45M Round for Digital Invoicing Expansion
Partech General Partner Omri Benayoun said in September: “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.”
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