Zobito joins Target Partners in TIS series-B

The fresh capital will enable TIS to invest in marketing and sales and to fund the expansion of the cloud platform. This is the third investment from Zobito's €60m fund, which focuses on young technology companies. Target stated it had committed further funding to TIS because the platform had retained every one of its customers since its initial investment.

VC-backed Klarna, a Swedish e-commerce payment services provider, acquired Germany-based online payment company Sofort in December last year. Earlier this month iZettle, a Stockholm-headquartered mobile payments firm, raised €40m in its series-C financing round.

Previous funding
Target invested €2.5m in TIS in May 2011. It invested via its second fund, which closed just shy of its €120m target on €113m in April 2009.

Company
Headquartered in Walldorf and founded in 2010, TIS is a cloud platform for managing corporate payments, liquidity and bank relationships. The company claims it can enable customers to make efficient, secure and cost-effective payment transactions. TIS counts Volkswagen, Swissair and Fujitsu among others in its client base.

People
Jörg Wiemer is the CEO and co-founder of TIS. Markus Roithmeier is a partner at Zobito. Berthold von Freyberg is a partner at Target.

Advisers
Company – GP Bullhound (Corporate finance).

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• Topics
• DACH
• Technology
• Expansion
• Germany
• Target Partners