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.”
Billogram, an invoicing tool for companies with recurring payments, was founded in 2011. Its customers include firms in the telecom, energy, mobility, finance, and security industries, according to the release.
According to the announcement, the platform leverages intelligent technology to support these businesses in lowering expenses, boosting revenue, and reducing churn by enhancing customer interactions and streamlining payment procedures.
According to Swisscom Investment Partner Pär Lange’s statement in the release, “Billogram is in many ways a unique player in Europe.” We are amazed by how they have been able to use their platform to develop a modern, digital customer experience and a future-proof invoicing solution based on our knowledge of and experience in the telecom sector.
This investment round follows one that raised $45 million from international digital investor company Partech, which also took part in the most recent round.
“In our discussions with premier utilities, telecom, eHealth, and all other customers throughout Europe, we learned how beneficial Billogram was for them to interact with their end-users through a top-notch billing and payment experience,” said Omri Benayoun, general partner at Partech, in September.
