Smart Bill, a Romanian provider of billing solutions and SaaS services, has secured a EUR 1 million investment from GECAD Group and Catalyst Romania, according to the start-up.ro website.
Launched in 2007, the company serves 33,000 clients that issue 1 million bills a month, worth some EUR 2 billion yearly.
Smart Bill has been advised by GECAD Group since 2013 and the investment from GECAD and Catalyst Romania, a local private equity fund financed through the JEREMIE initiative, will be used for the development of the company and “entering new emerging markets,” according to Radu Georgescu, founding partner of GECAD Group and also a board member of Smart Bill.
The company had received a previous investment of EUR 100,000 in 2013 from angel investor Lucian Todea, founder of ITNT.
Starting with 2014 the company’s solutions are integrated with the cloud, offering permanent and independent access from multiple users simultaneously. The platform also allows for usage from mobile devices and app connections.