Billhop, a Stockholm, Sweden-based payment platform that enables businesses to pay invoices by credit card, raised €4M in Series A funding.
The round was led by Element Ventures.
The company intends to use the funds to further develop the product and to strengthen sales, marketing and customer support functions.
Led by Sebastian Andreescu, CEO, Billhop provides a platform that enables SMEs and enterprises to pay invoices by credit card, regardless of whether the supplier accepts card payments. The company manages the entire payment process without onboarding the end recipient of the invoice payment.
The service is now being used by more than 50,000 European companies, including Fortune 500 companies.
Billhop is a Swedish Payment Institution licensed by the Swedish Financial Supervisory Authority (Finansinspektionen).