Pactas, a Germany-based electronic Invoicing services provider, has raised an undisclosed amount in its series A round from a consortium including XAnge Private Equity, which invests on behalf of France’s main postal service, and local venture capital firm Astutia Ventures.
In March 2012, Ricco Deutscher took over the assets of Pactas to focus on e-invoices.
Deutscher had previously founded Sopera, an open source middleware provider in 2007, before selling the company three years later to Talend.
Bernhard Schmid, general manager for Germany at XAnge, said: “We know Ricco Deutscher as a successful serial entrepreneur. He understands the art of taking innovative business models and making innovative and growing companies out of them. And his success has proven him right: within only a few months after kick-off, Pactas has paying customers.”
Benedict Rodenstock, managing director of Astutia, added: “In the next few years, SMEs [small and medium-sized enterprises] will replace paper invoices with e-invoices.”