Billhop closes SEK 15M more in expansion funding.
Billhop, a Stockholm, Sweden-based company providing a financial service for small and medium sized businesses, secured SEK 15M ($1.83M) in a new investment round.
The backers include existing investors, namely Almi Invest, Ambidextrous Investment and local angel investors Per Otto Hyland, Martin Bäuml and Lars Strömberg.The capital injection was made in a new company with consolidated ownership - Bockhörn Invest - represented by Per Otto Hyland, who is also Chairman of the company's board.
Billhop, founded in 2011 and led by CEO Sebastian Andreescu, developed a corporate financial service for small companies to pay their invoices via a banking card. The company charges a comission of 2.5% for each of the transactions. The capital will be used to drive operations and to expand internationally, with Italy, France and Germany as main targets for the near future.
Prior to this transaction, billhop raised almost $4M in outside capital investment.