Billte, a FinTech startup specializing in digitizing the invoicing announces CHF 450K in seed investment.
The financing comes from Synpulse Management Consulting, an internationally established management consulting company.
The startup was kicked off in early 2017 as a part of the «F10 Fintech Incubator & Accelerator program», Switzerland’s leading collaboration program for FinTech, focusing on innovation in the finance industry. Only twelve out of 300 startups graduated, including Billte, who won a CHF 15’000 sponsorship.
Billte is currently working on a minimum viable product in the insurance industry, which will be rolled-out by end of 2018. Synpulse, on the other hand, supports insurance companies and banks along the entire value chain.
«The similarities in target groups and know-how make the two companies a great fit»,
says Andrea Girasole, Co-founder and CEO of Billte AG.
«We are very excited to start a tightly knit collaboration with Synpulse who will be able to offer us great support along the way»,
Raphael Bianchi, Partner at Synpulse:
«Billte is a promising startup and a forerunner in digitizing the entire billing process. They are making invoicing easier and more enjoyable for businesses and consumers. We see great potential in Billte’s innovations. Our investment fits perfectly in our strategy to connecting to startups and being an innovation driver in order to satisfy our clients’ needs and make them fit for the future.»
A large part of the funds will be used to expand the development team and to speed up the further development of the software. Billte also plans to allocate some of the funds to business development, sales, and marketing efforts. With a well-rounded team of engineers as well as a sales and marketing team in place, Billte is now geared towards acquiring more large customers.
The focus for the time being lays on further development of the solution and on building a first proto type that can later be launched for small and medium sized companies.
Featured image credit: Freepik