Catalyst Romania Fund I has successfully sold its remaining shares in SmartBill, a leading Romanian invoicing and accounting software provider, to Norwegian Group Visma.

Target Information

Catalyst Romania Fund I has recently completed the sale of its remaining shares in SmartBill to the Norwegian Group Visma. SmartBill is a prominent Romanian company offering invoicing, inventory, and accounting cloud services, serving over 110,000 small and medium-sized enterprises (SMEs). Established in 2006 by founders Ioana and Radu Hasan, alongside Mircea Căpățînă, SmartBill launched its first invoicing software in 2011. By 2014, they had released their cloud invoicing product, which significantly contributed to their growth.

Following an €1.1 million financing round led by Catalyst Romania in 2016, SmartBill enhanced its offerings with features such as multi-user access, mobile functionalities, and integrations with various applications, all while ensuring top-tier security for its users. Since then, SmartBill has grown nearly twenty-fold, achieving an annual revenue increase of 30-60% and establishing itself as the leading provider of financial and accounting solutions in Romania.

Industry Overview in Romania

The Romanian technology sector has demonstrated consistent growth, driven by increasing digitalization across various industries. With a burgeoning startup ecosystem and a vibrant community of tech entrepreneurs, Romania has