Billogram, a Swedish invoicing platform, has secured 150 million Swedish kronas ($13.9 million) in an investment round to fuel its expansion throughout Europe and the DACH area, which includes Germany, Austria, and Switzerland.
According to a news statement, Swisscom Ventures, the venture arm of Swiss telecom corporation Swisscom, which led the round and will collaborate closely with Billogram to accelerate its growth, contributed two-thirds of the total amount raised.
According to Billogram CEO Jonas Suijkerbuijk, “the fact that one of Europe’s leading telecom providers recognizes the potential in our company and the usefulness of our platform is, of course, considered as extremely crucial proof of our internationalization.”
In 2011, Billogram, an invoicing solution for businesses that accept recurring payments, was established. The announcement lists companies in the telecom, energy, transportation, finance, and security sectors as its clients.
The platform, according to the statement, uses intelligent technology to help these companies cut costs, increase revenue, and decrease churn by improving consumer interactions and automating payment processes.
Billogram is in many respects a unique player in Europe, according to a remark made in the announcement by Swisscom Investment Partner Pär Lange. Based on our expertise and experience in the telecom industry, we are astounded by how they were able to leverage their platform to create a cutting-edge, digital customer experience and a future-proof invoicing solution.
This investment round comes after one that saw a $45 million fundraising from global digital investor Partech, which also participated in the most recent round.
According to Omri Benayoun, general partner at Partech, “In our interactions with major utilities, telecom, eHealth, and all other clients around Europe, we realized how useful Billogram was for them to communicate with their end-users through a top-notch billing and payment experience.”