Swedish startup Billogram has received a new capital investment of €15 million. Billogram uses tech to help companies improve customer relations through enhanced and automated payment and invoicing services.
The way we pay for things has changed somewhat over the years, and the payments sector is a space that is churning out interesting innovations. Payment processes naturally need to keep changing and adapting – reflecting changing consumer habits and preferences. Aiming to enhance the payment and invoice processes through tech automation, Billogram has just scored fresh funding and is planning to expand across Europe.
The funding
Stockholm-based Billogram has just scored a fresh €15 million investment. Swisscom Ventures led the round and will work in close partnership with the startup going forward to help accelerate further growth. It comes after a €45 million raise just last year.
This new round is also backed by existing owners including Partech, CNI Nordic and Inbox Capital.
Jonas Suijkerbuijk, CEO of Billogram: “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. That large European players now see how it provides direct cost savings, increased revenue and higher profit per end-customer is fantastic.”
SaaS payment platform
Since 2011, Billogram has been offering an innovative and next-generation billing platform for businesses that rely on recurring payments. Using smart technology, Billogram strengthens clients’ relationships with end customers while also automating the payment processes in a way that lowers costs, increases revenue, and reduces churn.
The Swedish innovators initially targeted smaller businesses and they were among the first in Sweden to digitalize paper invoices efficiently. Since then, the product has evolved from a digital invoicing service to a customer relationship-strengthening software platform and it’s this adaptability and dynamism which is helping sustain growth.
The platform provides an indispensable solution for invoice distribution, payments, and reconciliation. Their platform enhances enterprise clients’ end-customer experience across – among others – the telecom, energy, parking, finance, and security industries. Over the past two years, the company has experienced record growth in the Swedish market and expanded into several European markets.
Billogram sees this strategic investment and relationship with one of Europe’s leading telecom companies as an important step forward in their ongoing expansion into the European market, proving that companies with recurring payments are facing the same problems across the continent.
Pär Lange, Investment Partner at Swisscom Ventures, commented: “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. Therefore, we’re very excited to support the continued international expansion with our expertise and network”.
