Naarden, the Netherlands-based CloudBilling, a B2B SaaS platform, announced on Friday that it has secured undisclosed funding from Florin Finance Capital and existing investors.
Florin Finance is an independent corporate finance advisory boutique based in Amsterdam, Netherlands. The company provides high-quality financial advisory services in the field of mergers & acquisitions.
The Dutch company says it will use the fund to expedite its expansion in the UK and Nordics, while investing in sales and marketing and growing the company’s product development and operations teams accordingly.
The funding announcement comes as the company recently witnessed robust demand for its cloud-based billing and business intelligence solutions, especially in EMEA and now in the UK.
Yellowtail Group, a company that offers professional services and software solutions for financials, was founded by Rob Coppen and Robert Harreman back in 2003.
As the company grew, it spawned CloudBilling as a subsidiary in 2012..
Initially, CloudBilling specialised in providing billing solutions for telecom providers. In 2014, the company pivoted its focus to cater to SaaS companies in the Benelux region.
This decision proved to be a smart move as it allowed CloudBilling to better serve its customers and expand its offerings.
By 2018, CloudBilling had become a separate entity and no longer a subsidiary of Yellowtail.
The company continued to evolve, and in the same year, it began the development of Business Intelligence capabilities, which has helped to further cement its position as a leading player in the financial software solutions space.
In 2020, CloudBilling developed its customer portal solution and signed its first customers in the UK and DACH regions.
CloudBilling: Automating complex billing
The CloudBilling platform empowers enterprises to optimise their billing processes, curtail expenses, and augment their earnings.
By automating billing workflows and offering up-to-the-minute insights into revenue streams, the company facilitates businesses to regulate their cash flow and make well-informed business decisions effectively.
The platform primarily focuses on billing, business intelligence, and customer portals. It also offers a complete cloud management solution from a billing standpoint by utilising validated billing data.
The Dutch company’s validated billing data generates a significant amount of high-quality data that can be leveraged for gaining insights and creating valuable dashboards.
These insights are available not only to its customers, such as managed service providers but also to the end-customer of these service providers.