Advanon, a Swtizerland-based invoice financing software-platform, has raised SFr13.5m ($13m) in its series A round from a consortium including Swisscom Ventures, the corporate venturing subsidiary of local telecommunications firm Swisscom.
Two venture funds, b-to-v Partners and VI Partners, as well as Urs Wietlisbach, the founder of private equity firm Partners Group, joined Swisscom Ventures in the B round.
Advanon, which was founded by Philip Kornmann (who has since left), Phil Lojacono and Stijn Pieper after they met working for Google in Dublin, Ireland, plans to use the money to help expand into the German market from Switzerland.
The company raised its seed round of undisclosed size in September 2015.