The Netherlands-based TIE Kinetix, a company that delivers SaaS solutions for electronic document exchange and supply chain automation, announced that it has raised SEK 30M (approx €2.9M) in a fresh round of funding.
The investment came from Stockholm-based investment company Partinc Capital.
Michiel Wolfswinkel, CFO of TIE Kinetix, says, “With Partinc Capital’s investment, we get another new international partner who has extensive experience in driving growth in SaaS companies, which is very positive at the stage that the company is at.”
Exchange all business documents electronically
TIE Kinetix offers Software-as-a-Service (SaaS) solutions to companies, governmental institutions, and their suppliers, to help them exchange all business documents electronically and simplify the supply chain processes.
Through their cloud-based system, businesses can transfer different types of documents such as invoices, orders and order confirmations to authorities, customers and suppliers.
The company’s software platform, FLOW Partner Automation, empowers its users to engage in smart business exchanges and streamline communication through integration with any existing system.
In a statement, TIE Kinetix says, “Since 1987, we have supported all Electronic Data Interchange (EDI) and e-invoicing standards and communication methods worldwide. Today, our global team of experts share their knowledge with our 2,500+ customers, facilitating the exchange of over 1 billion documents through FLOW each year.”
With its EDI and 100 per cent digitalisation offerings, the company claims to be in a pole position in the current rapidly growing market. The company has customers such as the Municipality of Amsterdam, Bunzl, Revlon, and an additional 2,500 accounts.
TIE Kinetix, which is listed on the Amsterdam Stock Exchange (Euronext: TIE), has offices in The Netherlands, France, Germany, Australia, and the US.
About the investor
Partinc Capital focuses on investments in SaaS companies that deliver software services for business-to-business (B2B) relationships.
Per Nordling, Partner and Chairman of Partinc Capital, says, “I have followed TIE Kinetix for many years, first as a global business partner and the last three years as a board member and am very pleased that we have now reached this investment. TIE Kinetix, with its SaaS offering, develops systems to streamline the transfer of business documents between different organisations, which is a very interesting market. This, combined with being well-established in several major geographic markets such as the US, Germany, France, and the Netherlands, makes us very positive about the future.”
The firm has offices in Sweden and the Netherlands and it is primarily in these markets that it invests. TIE Kinetix is Partinc’s first investment in the Netherlands.