E-billing solutions company brite:bill has secured €1.2 million from the Ulster Bank Diageo Venture Fund, which is managed by NCB Ventures, after completing a series A funding round.
The Dublin-based company intends to use the funding to drive market expansion in the UK and Europe in 2011.
First launched in January 2010, brite:bill provides a new generation of interactive paperless billing technology, that delivers a unique, customisable environment for the delivery, personalisation and payment of bills, invoices and statements over the Internet.
“We are building a global company that is revolutionising the world of interactive billing,” said Alan Coleman, CEO of brite:bill. “brite:bill enables service providers to exploit their billing processes to cement long term profitable relationships with customers and dramatically change the way they engage with their consumers online.”
Will Prendergast, partner, NCB Ventures, added: “Service providers are encouraging customers to move towards electronic bill presentment and payment, as it enables them to realise significant cost savings. However the adoption rates until now have been low due to poor software design and user experience. brite:bill has created a solution to this by developing user-friendly software that delivers a fully interactive, online service for customers to pay their bills.
“We believe the company and its product has very significant potential in Ireland and overseas and the fact that brite:bill has attracted senior executives from Facebook, Skype, and eBay to join their advisory board is a clear indication of how attractive the company’s offering is to consumers and businesses alike.”
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