Swedish payments platform Billogram lands $45m investment
Stockholm-based Billogram, a specialist payments platform tackling the recurring billing niche, has landed a $45 million round of funding from a single investor, Partech.
Billogram was founded in 2010 in Stockholm
The company will use the new capital to expand its existing presence in Germany and to fuel moves into Norway, Finland, Ireland, France, Spain and Italy. It plans to add 100 new staff.
The Billogram platform allows third parties to build and handle any kind of recurring payments (as opposed to one-off purchases).
Partech already has investments in a number of other European software companies and start-ups, including Ecovadis, M-Files, Sendinblue, Jellysmack, Rohlik, Sorare, Toss and Swedish digital native fashion brand NA-KD.
Founded in 2011, Billogram initially targeted smaller businesses to digitalise paper invoices. Over the years, its product has evolved from a digital invoicing service to today’s platform for secure recurring bill payments.
Billogram CEO Jonas Suijkerbuijk says: “During 2020, we increased our number of signed deals by 300 percent and broke all previous sales records. It was a considerable achievement, and now, during the first half of 2021, we’ve already signed 50 percent more deals than last year.
“We need to expand into Europe to continue our growth, and Partech is the perfect partner to help us do so”.
Among the customers signed by Billogram in 2020 were digital health care provider Kry, broadband provider Ownit and energy provider Telge Energi.
