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Swisscom Ventures joins 15 MEUR investment round in Swedish payment platform Billogram
Aug. 31, 2022
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Swisscom Ventures has invested 10 MEUR in Billogram AB as a part of a larger funding round. The investment will further boost the Swedish invoicing and payment platform’s growth initiatives in Europe, and the DACH region specifically. Billogram will work in close partnership with Swisscom Ventures to accelerate further growth.
The Swedish invoicing and payment platform Billogram provides a SaaS 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 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”, says Pär Lange, Investment Partner at Swisscom Ventures.
The Swiss market is particularly interesting for Billogram; it has a high volume of invoice transactions and people send, process and settle more invoices than almost any other country. This makes invoice digitization all the more impactful.
“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”, says Jonas Suijkerbuijk, CEO of Billogram.
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.
The round is also backed by existing owners including Partech, CNI Nordic and Inbox Capital.
Since 2011, Billogram has been offering the next generation’s billing platform for businesses that rely on recurring payments. Using smart technology, Billogram strengthens their clients’ relationships with end-customers while also automating the payment processes in a way that lowers costs, increases revenue, and reduces churn. Their headquarters are located in Stockholm, Sweden, and they employ 150+ people.
Swisscom, Switzerland’s leading telecoms company and one of its leading IT companies, is headquartered in Ittigen, close to the capital city Berne. Outside Switzerland, Swisscom has a presence on the Italian market in the guise of Fastweb. In the first half of 2022 around 19,000 employees generated sales of CHF 5,494 million. It is 51% Confederation-owned and is one of Switzerland’s most sustainable and innovative companies.
About Swisscom Ventures
Swisscom Ventures is the venture capital arm of the Swisscom Group with over $650 million assets under management and advisory. Since 2007, Swisscom Ventures invested in over 80 technology companies from offices in Switzerland (Zurich, Bern, Lausanne) and the USA (Silicon
Born in San Francisco and Paris, Partech is one of the most active tech investors in the world, bringing together capital, operational experience, and strategic support for entrepreneurs at seed, venture and growth stages. The current portfolio is made up of 200+ companies in more than 30 countries, of which 16 are valued at more than $1B, including: Alan, Jellysmack, ManoMano, Merama, People.ai, Rohlik, SellerX, Sorare, Toss, Wave, Xendit, Zepz.