ING Belgium, a unit of Dutch banking group ING, has inked a software licensing deal with Finnish fintech startup Zervant.
The companies have not disclosed terms of the deal, but revealed that the deal is worth multi-million euros.
The deal offers ING Belgium the rights to rebrand the startup’s invoicing software as ING invoice solutions.
ING Belgium will initially sell the tool in Belgium, with a potential opening to other entities in the ING Group eventually.
Commenting on the deal, ING Belgium CEO Rik Vandenberghe said: "This is yet another example of how we are creating a differentiating customer experience. By offering our customers the possibility to simplify their invoicing we are taking our services a step further. When it comes to innovation, we strongly believe in collaboration. The partnership with Zervant allows us to go beyond traditional banking and to respond to the changing needs of our clients."
Zervant co-founder and CEO, Mattias Hansson said: "It is a significant step forward, and will allow small and medium sized businesses in Belgium to use the tool for all their e-invoicing needs. With the deal, Zervant hopes to substantially increase its turnover for the year. It also backs up the company’s growth initiatives."
Zervant’s service has more than 100,000 users, with Sweden, Finland, Germany, France and the UK being the core markets.