Palette adds Monterro as investor in the company.

Palette, a Stockholm, Sweden-based developer of a purchase-to-pay software platform, announced getting into an investment agreement with Monterro.

The deal, which has the financial details undisclosed, will be made for a minority share package. The founders will remain as majority shareholders and will continue to be active in the company.

Palette, founded in 2013 and led by CEO Lars Ola Petters, provides a software platform that increases the efficiency of customer’s financial processes such as purchase, cost control and e-invoicing, generally called “purchase to pay”. The company has 90 employees and is headquartered in Stockholm. Other offices are located in Sweden, Denmark, Finland and USA.

Palette has today over 1 800 customers in 50 countries and a turnover of approximately SEK 100m with good growth and profitability.