Hanoi (VNA) – The developer of Bizzi, a software as a service (SaaS) which simplifies invoice processing, has successfully raised 3 million USD during a pre-Series A round.

The sum will be pumped by a consortium led by Japan’s leading FinTech/SaaS firm Money Forward, with the participation of Do Ventures from Vietnam and Qualgro from Singapore.

The robotic process automation (RPA) technology and machine learning of Bizzi help cut 80 percent of processing time and 50 percent of cost in invoice handling, while increasing transparency and tax obligation amongst businesses.

Bizzi is the first company in Vietnam to offer automation solutions for invoice processing via artificial intelligence and the RPA technology. Its platform can be integrated with existing accounting solutions and connect services providers with customers to automatise financial procedures.

Executive Officer/CSO at Money Forward Kanto Tatsuya said Bizzi has created a huge impact by helping thousands of firms in digital transformation.

The Japanese mobile application software developer will support Bizzi to build the largest account book software in Vietnam based on experience from its own Money Forward Cloud, he added.

Vietnamese startup in automated invoicing raises 3 million USD hinh anh 1Co-founders of Bizzi Vu Trong Nghia (R) and Nguyen Bao Nguyen (Photo: vneconomy.vn)

Co-founders of Bizzi Vu Trong Nghia and Nguyen Bao Nguyen said the new investment will help them bolster the product’s functions and expand customer network.

They underscored that Vietnam remains the firm’s key market in the near future, and it will consider the possibility to expand to the Southeast Asian market.

At present, Bizzi’s customers include Grab super app, Circle K convenience store chain and Tiki e-commerce platform, among others. Total values of invoice handled through Bizzi exceed 300 million USD per month./.