OB10 accelerates growth through new capital investment

London - 28 March 2011

OB10, the leading global e-Invoicing network, today announced that it has raised $6.4 million of new capital through a recent shareholder rights issue.

This new round of funding, which was led by the company’s existing institutional shareholders Azini Capital, Cargill and Fleming Family & Partners, is to fund accelerated growth through continued regional expansion and ongoing product development.

OB10 previously announced significant growth across the business in 2010, highlighting an increase in the number of customers, an increase in revenue by 30 percent and an increase in transaction volume by 54 percent.

“The e-Invoicing market is experiencing a period of significant change with many more firms realising both the financial and efficiency gains to be made by switching from paper to electronic,” commented Stefan Foryszewski, SVP Business and Product Development, OB10. “This latest investment clearly highlights the confidence from our investors in our future business growth and positions us well to take on the expanding marketplace.”

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