Capital raise in cloud based business management software provider SMARTFRONT by Hiventures
We advised the owners of SMARTFRONT, a developer of innovative cloud ERP and business management software, in connection with its EUR 2.5 million (HUF 900 million) growth capital round. The company’s new investor is venture capital firm Hiventures, which carried out its largest independent investment so far through this transaction. SMARTFRONT is growing dynamically and will use the new funds to scale up the business and switch to a Software-as-a-Service business model.
SMARTFRONT, established in 2011, is primarily known by local SMEs for its proprietary online ERP system, and also made the first steps toward international markets. The company’s new development is the subscription based SMARTBooks product family, which is closely integrated with the market leading online invoicing platform of Szamlazz.hu, and offers a full-fledged accounting software as well as ready-to-use business management applications for microenterprises.
Our client said:
“It was a great experience to work with Tamas Toth and the Invescom team, we received professional support in every aspect of the process from preparation to closing. We completed a fairly complex transaction and had no doubts that our cooperation will result in success.”
Karoly Schramm, founder and CEO of SMARTFRONT