Billogram, the digital invoicing platform, has announced that it has raised $45 million from the investor Partech which views its business model as being on the growth path and its platform being an in-demand solution for a variety of businesses.
Billogram was established in Sweden in 2011 and it has been seeing great growth over the last couple of years as it helps to remove the need for paper invoices and pushes through digital invoices instead. The payments industry has undergone a sea change over the last couple of years and one of the major changes that have been seen is the fact that it has undergone a lot of digitalisation. This has helped companies like Billogram to make hay as more and more businesses shift to the digital way of doing business and doing away with paper invoices is a natural extension of this idea.
“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. “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.”
The company has said that it plans to use the new funds for doubling its resources and also has plans to expand into 6 new markets all across Europe. The platform helps to integrate billing, payment, and invoicing and is reported to be one of the major and most user-friendly platforms around and this kind of integration is of prime need for businesses who face issues in keeping track of billing and payments.
“In our discussion with leading utilities, telecom, eHealth, and all other clients across Europe, we realized how valuable Billogram was for them to engage with their end-users through a top-notch billing and payment experience,” said Partech General Partner Omri Benayoun.
With the growth in digitalization continuing to happen at a fast pace, the demand for platforms and products of companies like Billogram is only like to grow during this period.