Qvalia, a Stockholm, Sweden-based financial technology company, has received an investment of €1.2 million from Investment AB Spiltan. The fresh capital will be used to accelerate the development and simplify the onboarding of new customers. Qvalia offers a software platform for finance process automation.
“Our software increases the efficiency radically in daily finance operations within our customers’ existing IT infrastructure. There has been a strong interest since our roll-out in 2018, and we need to increase our development capacity. Spiltan has been a valuable partner since 2011, and we’re grateful for their continued support”, says Henri Taipale, founder and CEO of Qvalia.
Qvalia was initially founded in 2007 as an expert in transaction analysis, a data-driven service to identify accounting deviations and recover lost capital. The company grew rapidly and is now the Nordic leader. Based on the company’s insights into financial data management, in 2015 Qvalia started developing a platform for complete and flawless automation in finance processes for the enterprise, such as invoice management and transactional accounting. In 2018, Qvalia generated sales of €6.9 million. Spiltan already invested in Qvalia 2011 and 2016.
“Qvalia solves a significant problem with its powerful automation solution for daily finance processes, such as invoice management and accounting. They meet all our requirements regarding growth potential, founder-driven culture and market position”, says Per Håkan Börjesson, CEO of Spiltan.
Investment AB Spiltan is a Swedish investment company focusing its investments on Swedish private companies run by talented entrepreneurs. Spiltan has more than 3,100 shareholders and is traded on Alternativa Listan of Pepins Group AB.