Zervant, an online invoicing software company, has raised €6 million led by Finnish VC firm Tesi with participation from Northzone, NFT Venture, and Conor Venture Partners.
The Espoo-based company develops software for small and medium sized businesses to issue and manage their invoices. The new funds will be invested in further growing its core demographic of microbusinesses and developing premium features.
“This investment will help us to grow even faster across Europe, and help micro enterprises to benefit from the market shift driven by legislation. We’re also looking forward to offering them new solutions that will speed up their invoicing cash flow,” said CEO Mattias Hansson.
It’s currently used by 20,000 businesses around Europe, which is its key market thanks to an EU directive that makes e-invoicing the primary form of invoicing.
“Regulatory changes in the financial space, along with the widespread switch to digital, present entrepreneurs with a whole new set of possibilities for running their businesses more efficiently,” said Hansson.
In addition to the funding round, Zervant has appointed Finnish entrepreneur Niklas Savander to its board.