Invoice2go collects $10m in its funding led by OCV

Invoice2go, a mobile invoicing app, has collected $10m in its funding round led by OCV Partners.

Additional investments came from existing backers Accel and Ribbit Capital. As part of the transaction, OCV Partners managing principal Hemi Zucker has joined the company’s board of directors.

This investment brings the company’s total funding efforts up to $60m.

Invoice2go is a mobile invoicing app when enables small businesses to control the finances. The company helps 250,000 customers to send around $24bn in invoices annually.

By using the app, consumers can send invoices and estimates on the go, choose from various templates, accept credit and debit cards, track invoices and expenses and check business reports.

The company recently released new services including time tracking, appointment managing, and the ability to collect front deposits.

OCV Partners managing principal Hemi Zucker said, “By understanding the true needs of their customers, Invoice2go has been able to build a powerful product that’s given more than 250,000 business owners the right mobile tools to stay on top of their business, and the confidence they are operating in the most professional, efficient way possible.”

Capital from the round will be put towards product innovation and help to develop its offering for small businesses.

Earlier in the year, Ribbit Capital backed online auto insurance platform Root Insurance in its $100m Series D round. The company raised the capital to help boost its position in the market, and expand into more US states.

Fellow invoice processing solution POM picked up €830,000 in a funding round last month, in order to accelerate its growth in Belgium.

Copyright © 2018 FinTech Global

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