After $45 million round last year in September, Swedish invoicing and payment platform Billogram has raised €15 million in funding. The round was led by Swisscom Ventures, with participation from Partech, CNI Nordic and Inbox Capital.
The investment will further boost the platform’s growth initiatives in Europe with a focus on the DACH region. Billogram will work in close partnership with Swisscom Ventures to accelerate further growth.
Founded in 2011, the Stockholm-based startup aims to offer a billing platform for businesses that rely on recurring payments. It claims to strengthen the clients’ relationships with end-customers while also automating the payment processes to lower costs, increase revenue, and reduce churn.
The Swiss market has a high volume of invoice transactions and people send, process and settle more invoices than almost any other country. This makes invoice digitisation all the more impactful in the country.
Jonas Suijkerbuijk, CEO of Billogram said: “The fact that one of Europe’s largest telecom companies sees the potential in our business, and the value our platform creates, is important evidence of our fit for international markets. Recently, our core offering – creating long-term, loyal and profitable relationships with end-customers – has become more important than ever. Large European players now see how it provides direct cost savings, increased revenue and higher profit per end-customer is fantastic.”
Pär Lange, investment partner at Swisscom Ventures added: “Billogram is a unique player in the recurring payments industry in Europe. Based on our expertise in, and experience from the telecom business, we're impressed by their platform and how it manages to substantially increase end-customer lifetime value, at a time when this is more important than ever.”