Calculus invests £2m in CloudTrade
Calculus Capital has made a £2m capital injection into London-based software company CloudTrade, which develops cloud-based electronic invoice processing technology.
The fresh funding will be used to help CloudTrade strengthen its global sales and support the growth of its teams. In addition, it plans to expand its platform to cover additional languages and grow its presence in the European and US markets.
Company
Founded in 2009 and headquartered in London, CloudTrade enables companies to automatically process electronic documents such as invoices and sales orders received by email.
According to the company, its software is used by 200 companies and organisations including Qantas, Arco, the Scottish government and the NHS.
CloudTrade’s technology has been patented in Europe, the US and Australia and resellers include IBM, Hewlett Packard Enterprise, BT, Cegedim, SAP Ariba and Opus Capita.
People
Calculus Capital – Richard Moore (investment director).
CloudTrade – David Cocks (co-founder, CEO).
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