Billhop, a Stockholm, Sweden-based B2B payments platform, raised €10.5m in funding.
The round was led by EQT Ventures.
The company intends to use the funds for hiring, customer acquisition, and geographical expansion.
Co-founded by Sebastian Andreescu (CEO), Erik Malm (CTO) and Ingemar Sjögren (CFO), Billhop enables businesses to pay supplier invoices using existing cards, regardless of the suppliers’ payment stack, and allow the, to optimize working capital and gain process efficiencies.
The solution manages the complete payment process without having to onboard the end recipient, who is paid through a bank-to-bank transfer, removing barriers to card acceptance in B2B payments (e.g. setting up new card acceptance infrastructure, processing fees).
Billhop serves over 20 markets, catering to Fortune 500 enterprise customers across Europe; and sole traders and SMEs in the UK, Sweden, Netherlands, Italy, Ireland and Finland.
The company is licensed as a Payment Institute under the supervision of the Swedish Financial Inspection Authority.
FinSMEs
03/02/2022