Insurer Mobiliar has acquired Switzerland-based business software company Bexio for a reported SFr115m ($110m).
Local insurer Swiss Life signed a strategic partnership alongside an investment in Bexio in October with Markus Leibundgut, CEO of Swiss Life Switzerland, becoming a member of the portfolio company’s board.
In March last year, Bexio raised SFr7.5m from a consortium led by Swisscom Ventures, the corporate venturing subsidiary of telecommunications firm Swisscom.
Venture capital firm Redalpine Venture Partners and family office Armada Investment also contributed to the round. Armada Investment previously led a SFr4.5m round in 2015, with participation from Redalpine.
Founded in 2013 as EasySys before rebranding two years later, Bexio provides cloud-based accounting software that enables companies to easily produce and pay invoices. The platform integrates with online banking services to facilitate quick transactions.