Smart Bill, the electronic billing platform, has invested EUR 1 million in the development of a new accounting app that provides real time communication between business owners and accounting experts.
Radu Hasan, the co-founder & CEO of Smart Bill, says the new app will help boost the company’s sales by 50 percent in the next years. It was developed using the financing raised last year from Catalyst and Gecad Group.
The app targets entrepreneurs, SMEs and in-house accountants and provides automation instruments for data introduction activities.
“An entrepreneur can issue bills directly from his or hr mobile phone in front of his or her client, and the invoice instantly gets to the client and the accounting firm or department,” said Hasan.
Smart Bill has over 45,000 clients, including sole traders and large firms. The company handles over 1 million documents monthly, with a value of over EUR 2 billion yearly. Catalyst and Gecad Group hold a 30 percent stake in Smart Bill, which was founded in 2007 by Radu Hasan, Ioana Hasan and Mircea Capatina. The company recorded a turnover of more than EUR 1 million in 2016.