Maventa is a relatively young Finnish e-invoicing operator, but during its little over two years in operation – it has grown to become the third largest e-invoicing provider in Finland. They are ambitious and something that speaks of this is their slogan: “the world deserves a free electronic invoicing infrastructure”. In essence, they want to do to e-invoicing what Skype did to the telco industry. In a recent tweet (they’re actually the third largest behind Nordea and Itella), they announced that they have surpassed Basware in the amount of clients. Basware is a publicly listed company. At the time of writing this, Basware is now the fourth largest e-invoicing provider with 3809 clients, Maventa has 3913 clients, while Itella has 5413 clients and Nordea is the largest with 10178 clients.

All this data is available in the database run by Tieke (Finnish Information Society Development Centre). While it’s valuable to check and search for companies’ e-invoicing info in an open database, I do find it slightly disturbing that there is no privacy of one’s clients.

Maventa’s service, verkkolaskut.fi, has free e-invoicing between its clients and e-invoices sent to clients with other networks cost only 0,80 euros. Paper invoices cost 1,85 euros which is extremely reasonable, considering that almost half of it is already the price of a stamp.

Maventa has constantly outshone its competition in terms of costs in various studies. Last March Talouselämä wrote an article (in Finnish) about the company and how it has constantly run into problems with larger players in the market. Larger players, such as Nordea, do not want to sign agreements which would enable interoperability between the services – basically meaning Maventa clients could send e-invoices to Nordea’s clients.

Nevertheless, Maventa is on an impressive growth path. They’ve opened offices in Tallinn and a centralised sales office in London. We’ll definitely be hearing of them in the future. Below is a short video explaining their service in 90 seconds.