Finnish fintech startup Zervant recently signed a substantial deal with ING Belgium, part of ING Group – one of Europe’s largest banking groups. It is one of the first major deals a Nordic fintech startup has done with a leading European bank.
Zervant provides simple, intuitive invoicing software for small businesses, freelancers and entrepreneurs. To date, Zervant’s software has over 100,000 business users. Its core markets are Sweden, Finland, France, Germany and the UK. Headquartered in Helsinki, Finland, Zervant was founded in 2010 and has raised over 4 million Euros of venture capital and angel funding.
The deal enables ING Belgium to acquire the rights to rebrand Zervant’s invoicing software, which is currently used by small businesses and entrepreneurs throughout Europe, and to sell it via their own channels. Under this licence, the software will be marketed as ING invoice solutions.
During the first phase, ING Belgium will have the rights to sell the tool in Belgium, with a potential opening to other entities in the Group . Overall, the deal strongly supports ING Belgium’s innovation strategy within fintech, and also strengthens Zervant’s position as one of the leading providers of invoicing software throughout Europe.
The partnership with ING Belgium aims to provide small and medium sizes businesses with a better tool for managing their invoicing and financial documentation needs online, an essential step in the move towards digitalisation.
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