Netherlands-based TIE Kinetix, a company that delivers SaaS solutions for electronic document exchange and supply chain automation, announced that it has raised SEK 30 million (approximately EUR 2.9 million) in a new round of financing.
The investment came from the Stockholm-based investment company Partinc Capital.
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Michiel Wolfswinkel, CFO of TIE Kinetix, says, “With Partinc Capital’s investment, we get another new international partner who has extensive experience of driving growth in SaaS companies, which is very positive at the stage the company is in.”
Change all business documents electronically
TIE Kinetix offers Software-as-a-Service (SaaS) solutions to companies, government institutions and their suppliers, to help them exchange all business documents electronically and simplify supply chain processes.
Through its cloud-based system, businesses can transfer different types of documents such as invoices, orders and order confirmations to authorities, customers and suppliers.
The company’s software platform, FLOW Partner Automation, gives its users the opportunity to engage in smart business exchanges and streamline communication through integration with all existing systems.
In a statement, TIE Kinetix said, “Since 1987, we have supported all electronic data exchange (EDI) and e-billing standards and communication methods worldwide. Today, our global team of experts shares their knowledge with our 2,500+ customers, facilitating the exchange of over 1 billion documents through FLOW every year. ”
With its EDI and 100% digitization offerings, the company claims to be in a pole position in the current rapidly growing market. The company has customers such as the municipality of Amsterdam, Bunzl, Revlon and another 2,500 accounts.
TIE Kinetix, which is listed on the Amsterdam Stock Exchange (Euronext: TIE), has offices in the Netherlands, France, Germany, Australia and the United States.
About the investor
Partinc Capital focuses on investments in SaaS companies that provide software services for business-to-business (B2B) relationships.
Per Nordling, partner and chairman of the board of Partinc Capital, says: “I have followed TIE Kinetix for many years, first as a global business partner and the last three years as a board member and I am very pleased that we have now reached this investment. TIE Kinetix, with its SaaS offering, develops systems to streamline the transfer of business documents between different organizations, which is a very interesting market. This, combined with the fact that we are well established in several large geographical markets such as the USA, Germany, France and the Netherlands, makes us very positive about the future. ”
The company has offices in Sweden and the Netherlands and it is primarily in these markets that they invest. TIE Kinetix is Partinc’s first investment in the Netherlands.
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