Norwegian Visma group becomes a SmartBill shareholder, after buying half of the company

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SmartBill’s founders, Ioana Hasan, Radu Hasan and Mircea Hanățălai will remain in charge of the business, focusing on its development.

SmartBill has multiplied its business five times over the past 4 years with annual increases of 50%, thus being the leader of the Romanian market for financial and accounting solutions. The new Visma partnership will help to maintain the fast pace of growth and the development of the SmartBill ecosystem, aimed at improving the activity of Romanian small and medium companies.

In Visma, we found the ideal partner to move SmartBill to the next level. Their resources and experience will help us to improve SmartBill, to continue to innovate and make life for entrepreneurs in Romania a little easier. This transaction is also a confirmation that our mission to become the first software ecosystem in Romania dedicated to small and medium companies is on the point of being fulfilled, but also that our cloud billing, management and accounting solutions are at the level we are aiming for,” says Radu Hasan, Co-founder and CEO SmartBill, regarding the transaction and the future plans of SmartBill.

The transaction was assisted by law firms RTPR & Allen & Overy and Wolf Theiss and is currently in the approval processes, with the Romanian authorities.

This new acquisition is in line with Visma’s strategy to produce and deliver the best cloud solutions for driving and managing SMEs in Northern, Central and Eastern Europe. SmartBill is a suite of cloud applications of the best quality, reliability and easy to use, the exact thing that Visma wanted for the Romanian market.

“Visma’s mission is to help companies and organizations to improve productivity and offer a better approach when it comes to digitalization, integration and automatization of economical processes. Joining as an associate in SmartBill, Visma will offer a powerful brand, the experience of a company that leads the cloud segment market and resources for development. At the same time, SmartBill will help solidify a new market for Visma group”, stated Jostein Havaldsrud, Product Director, Visma Group.

Visma Group, leader on the cloud services market in Northern Europe and other countries, already present in Romania with R&D offices in Sibiu and Timisoara (over 500 employees) becomes an active player on the market.

SmartBill is the first business software ecosystem in Romania, with the main goal to automate processes, data transfers as well as the issue of documents, thus eliminating the redundant manual labor of re-adding data in different systems.

SmartBill services are currently used by over 65,000 people, from self-employed people, to SMEs and multinational companies from all business sectors, as well as services and commerce. Over 2 million documents are issued monthly with the use of the platform and their value represents over 4 billion EUR yearly.

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