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BUCHAREST (Romania), July 13 (SeeNews) - Romanian fintech startup Smart Bill said on Wednesday it has invested 750,000 million euro ($830,400) in cloud billing management services, and aims to reach 50,000 clients by 2020.
The investments were mainly directed to software development for both web and mobile versions, offering clients the option for invoice management in a cloud, the company said in a statement.
In addition, Smart Bill has invested in training a technical support department consisting of 12 experts.
The company already first implemented cloud billing in 2014.
Currently, Smart Bill has 40,000 clients, from small businesses to corporations and hopes to increase their numbers by 25% in the next four years.
The company was founded in 2007 by entrepreneurs Radu Hasan, Ioana Hasan and Mircea Capatina.
In 2016, Bill Smart received an investment of 1 million euro from investment funds Catalyst and Gecad Group, which took over a 30% stake in the company.
Over 1,000,000 invoices are issued monthly and more than 2 billion euro are billed annually through Smart Bill.