Onventis, a Stuttgart, Germany-based provider of a cloud platform provider for e-procurement, received a strategic investment from Main Capital.
The amount of the deal was not disclosed.
Main Capital made the investment in conjunction with the Onventis management team.
The company intends to use the funds to further internationalize the business and extend the value proposition for its customers and make strategic add-on acquisitions.
Founded in 2000 and led by Frank Schmidt, CEO, Onventis provides a cloud based software platform for buyers and suppliers to connect, automate and control the entire chain from sourcing to payment. Worldwide, over 350,000 users create more than Euro 5.5 billion purchasing volume with the platform.
The company currently serves a diversified client base with more than 500 procurement organizations across various industries, such as Kühne + Nagel, Steigenberger, Techem, Berlin Hyp, Schott, Conrad, Deutz, Engie, Federal Mogul, GEA Group, Alba, Apcoa, Dekra, Hochland, Low & Bonar, and Sunrise.