Payr raises NOK 11M from DNB Ventures

Payr, an Oslo, Norway-based company providing an online platform for making invoice payments, announced in a press release that it secured NOK 11M ($1.3M) in capital investment.

The funding comes from local investors and include a NOK 6M contribution from Norwegian bank DNB through its venture arm, DNB Ventures.

Payr, founded in 2016 and led by CEO Espen Grimstad, developed Smart Payments, an online platform for invoices as the tool automatically suggest better deals for the services paid via the service.

Prior to this deal, Payr added funding from founders, family and friends, as well as from investors, grants (NOK 600k from Innovation Norge) and loans.