Pagero announced a capital raise of SEK 300 million.

Pagero, a Gothenburg, Sweden-based developer of a cloud based network platform for communication of business documents within the purchase-to-pay, order-to-cash and logistic-to-pay (TMS) processes, announced raising SEK 300M ($35.6M) in capital investment.

The money was raised from new and existing investors, led by Swedbank Robur and including AP6 and Summa Equity. The deal involves that Swedbank Robur contributes SEK 150 million, AP6 with SEK 100 million and Summa Equity, the company's largest shareholder, has guaranteed the remaining part of the issue (SEK 50 million) if it is not subscribed for by other current shareholders or employees. 

Pagero, founded in 1999 and led by CEO Bengt Nilsson, makes a business based on a platform that makes available e-order and e-invoice services helping businesses to streamline operations throughout the entire order-to-pay process. The company was acquired by Summa Equity in 2017.