Visma acquires a majority stake in Romania based SmartBill.
Monday, December 16, 2019
Visma expands its geographic footprint and strengthens its European leadership in cloud-based efficiency solutions for SMBs with the acquisition of a majority stake in Romania based Intelligent IT SRL. The company’s key product SmartBill has a strong focus on automation and user experience. It is used by 65 000 small and medium business customers in Romania to issue over 2 000 000 monthly invoices.
The acquisition supports Visma’s strategy to deliver the best cloud solutions to SMBs in Northern and Central Europe. SmartBill is an effective and accessible collection of tools, providing 65 000 small- and medium-sized businesses with cloud based modules for best-in-class billing, invoicing, inventory management and accounting, and is further supplemented with integration to a wide range of banks, online retailers and marketplaces.
“Visma’s mission is to help companies and organisations improve productivity and enhance services through digitalisation, integration and automation of business processes. Visma as shareholder will strengthen SmartBill as a provider of cloud business software to Romanian businesses. SmartBill will also expand Visma’s cloud SMB footprint in Central Europe. We are now also looking forward to entering the Romanian market, and expect to gain significant traction here over the coming years,” says Jostein Håvaldsrud, Product Director, Visma Group.
With the acquisition, Visma expands its geographic footprint in Romania from product development for its international products, to its first Romanian product with Romanian customers. Visma will boost SmartBill’s value proposition by offering additional relevant products and services to customers.
“The growth and performance of SmartBill during the past few years have been very strong. Visma’s experience within various cloud billing and accounting services will benefit SmartBill’s customers. With a shared vision of making billing and accounting processes simple and cloud-based, Visma is perfectly suited to support SmartBill in becoming stronger, more reliable and more trusted,” says Radu Hasan, Co-Founder & Managing Director of SmartBill.
SmartBill has proven that it can grow its customer base, with more than 60 000 customers on a modern cloud-based solution, issuing over 2 000 000 invoices monthly with an annual total value of EUR 4 billion. SmartBill, as part of the Visma group, will remain an independent brand and entity, focused on delivering great products combined with top class customer support and knowledge.
The acquisition is subject to approval by Romanian authorities.
For more information, please contact:
Jostein Håvaldsrud, Product Director, Visma Group +47 930 14 508
Radu Hasan, Co-Founder & Managing Director +40 724 253 780
Founded in 2007, SmartBill is a Romanian FinTech company that provides small- and medium-sized businesses with invoicing and inventory management software. Its key product SmartBill can be accessed from anywhere by any internet-connected device. More than 65 000 customers are issuing over 2 000 000 invoices monthly with an annual total value of 4 billion EUR. The company is headquartered in Sibiu, Romania.