March 2, 2016

Zervant’s e-invoicing service to cover whole of Europe

On a global scale, Finland is the country with the highest number of e-invoices sent. During the past three years, the number of small-sized businesses switching to e-invoicing has doubled annually.
On a global scale, Finland is the country with the highest number of e-invoices sent. During the past three years, the number of small-sized businesses switching to e-invoicing has doubled annually.
Teemu Granström

The Finnish startup Zervant intends to make its e-invoicing service available to all European small-sized companies.

Finland is a global pioneer in e-invoicing. Some 89 per cent of large Finnish companies and 59 per cent of small ones have introduced e-invoicing. The global average is 8.4 per cent.

The Europe-wide introduction of e-invoices would save 64.5 billion euros and a million tonnes of CO2 emissions annually. In addition, according to Zervant, switching to e-invoicing saves 25 euros per invoice.

The main markets of Zervant, founded in 2010, have been Finland, Sweden, Germany, France and the UK, where its cloud-base service already has more than 80 000 corporate users. To date, the company has raised four million euros in capital funding from Conor Venture Partners, Tekes and angel investors.

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