Bilagos sells a third of the company to Kistefos, wants to expand an AI-based software accounting service.

Bilagos, a Kristiansand, Norway-based startup working on a software as a service solution for the financial industry, added Kistefos as an investor in the company.

The financial details of the deal remain undisclosed and the transaction was made for a third of the shares in the company.

Bilagos, founded in 2015 by Robert Kristiansen, developed Semine, a software solution that automates underlying financial documentation and invoice processing for companies.

The company, which employs 35 people, is working on a few pilot projects with companies including Selvaag Bolig, the Princess Group and Amesto Account House, and expects to officialy launch its solution in the market in 2018.