Zervant, a Finnish invoicing startup, has raised €4m ($4.5m) in a Series A round of venture funding.
The investment was led by Nordic-focused VC firms Northzone and Conor Venture Partners.
The company offers invoicing software for SMBs and claims to serve 100,000 companies across Europe currently.
The company says it will use the capital to drive international expansion, as well as the development of new products and services, including invoice financing.
“The investment will help us expand significantly and strengthen our position as the leading invoicing service for small businesses in Europe. We will accelerate growth in our current markets as well as expand into new countries”, says Mattias Hansson, Zervant co-founder and CEO.
“In the next five years, there is going to be a tremendous shift towards electronic invoicing and more accessible financial products for micro enterprises. We want to lead the way in this segment.”
The new funding brings the total raised by the company to just shy of $9m.
In June Zervant inked a deal with ING Belgium to allow the bank to sell Zervant’s software through its channels.
The company plans to make more deals with the banking sector in future.
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