Finnish fintech startup Zervant has raised 4 million euros for expansion of its invoicing platform from Northzone and Conor Venture Partners.
The investment will be used to further boost the international expansion of Zervant’s invoicing services, especially on the European markets. The team will use the capital also to add new features to the product, such as invoice finance.
“The investment will help us expand significantly and strengthen our position as the leading invoicing service for small businesses in Europe. We will accelerate growth in our current markets as well as expand into new countries,” Mattias Hansson, Zervant co-founder and CEO, said in a statement.
Northzone is a technology investment partnership that has invested in companies such as Spotify, iZettle and Klarna.
“Northzone invests in scalable businesses with passionate management teams that can create market leaders in markets with a significant opportunity. We believe Zervant is a great example of a company that is gaining traction quickly in a market that’s at the verge of transformation. We look forward to working with the team to create a winner in e-invoicing,” said Bjørn Stray, General Partner at Northzone.
This latest funding round will bring the total raised by Zervant to more than 8 million euros. In June, Zervant unveiled a multi-million-euro deal with financial group ING, and it said it planned to further grow its business with banking groups.