Global tech investment firm Partech has invested over 350 MSEK into Billogram, to help double its workforce and expand into six new markets.
Partech is known for investing in global European-born software leaders Ecovadis, M-Files or Sendinblue, unicorns such as Jellysmack, Rohlik, Sorare, Toss or Swedish digital native fashion brand NA-KD.
“We are excited to partner with Jonas and the team at Billogram.” says Omri Benayoun, General Partner at Partech. “Having spotted a gap in the market, they have quietly built the most advanced platform for large B2C enterprises looking to integrate billing, payment, and collection in one single solution. In our discussion with leading utilities, telecom, e-health, and all other clients across Europe, we realized how valuable Billogram was for them in order to engage with their end-users through a top-notch billing and payment experience. The outstanding commercial traction demonstrated by Billogram has further cemented our conviction, and we can’t wait to support the team in bringing their solution to many more customers in Europe and beyond!”
Founded in 2011, Billogram initially targeted smaller businesses and was the first in Sweden to digitalize paper invoices efficiently. Over the years, the product has evolved from a digital invoicing service to a customer relationship-strengthening software platform that secures payments on time, increases customer satisfaction, and prevents churn. Going after more markets is a natural next step for Billogram and finding the right investor has been crucial to making it happen.
“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. They are not only an intelligent and pragmatic group of people but are also experienced in our field and know how to tackle the challenges we face. The Partech motto is “think bold, move fast, and be fair,” and this is something that genuinely resonates with Billogram’s beliefs and inspires our approach to international growth”, says CEO Jonas Suijkerbuijk.
CRO Carl Lindberg and CEO Jonas Suijkerbuijk, Billogram
Billogram’s massive acceleration in 2020 saw new customers join, such as digital health care provider Kry, broadband provider Ownit, and energy provider Telge Energi. This progress is proof that more and more companies are becoming aware of the potential of using the invoice as a customer relationship-strengthening tool.
“Demand for our product is larger than ever, and as we move into the vast international market, our success will come down to proper execution. Billogram’s experience gives us an advantageous position, as our technology has been developed and optimized for over ten years, and we started investing in the organization’s growth a few years ago. It’s now a matter of growing further and faster, and scaling the company based on a well-functioning model", says CRO Carl Lindberg.
This investment will allow Billogram to grow even faster, and they plan to hire another 100 people in the upcoming months. Apart from further expansion within Germany, Billogram will enter Norway, Finland, Ireland, France, Spain, and Italy in the upcoming years.
Since their start in 2011, Billogram has revitalized the outdated invoicing process by offering companies with recurring payments an intelligent digital platform. Using smart technology, we help companies strengthen their customer relations while also automating payment processes in a way that lowers costs, increases revenue, and reduces churn. The result is a payment that pays off for everyone.
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Born in San Francisco and Paris, Partech is one of the most active VCs in the world, bringing together capital, operational experience and strategic support for entrepreneurs at seed, venture and growth stages. The current portfolio includes 200 companies in more than 30 countries, of which 10 are valued at more than $1B.
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