The German startup Bexio, a provider of cloud-based software for SMEs, has raised €7 million. The funding comes from Swisscom Ventures and existing investors Redalpine Venture Partners AG and Armada Investment AG.
Last year the company more than doubled its customer base, and now more than 8,000 companies are using the fintech startup's software. The online startup has recently expanded its platform by acquiring the company Elohna, a provider of cloud-based payroll accounting, especially for Swiss SMEs, and another banking interface.
With the new capital, the company plans to accelerate its strong growth and continue to invest in product innovations.
"I am very pleased that well-known new and existing investors are convinced of the enormous potential of Bexio," commented Jeremias Meier, Managing Director of Bexio, as reported by Startup Ticker.
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