OMERS Ventures, the venture capital investment arm of OMERS, and Covington Capital are investing $2 million in Fusebill, a provider of automated subscription billing and payment solutions.
“Fusebill fills a big gap for small and medium-size businesses that in the past haven’t been able to access or afford this kind of technology,” says Derek Smyth, managing director of OMERS Ventures. “This, combined with a very experienced management team that has achieved great success together in the past, makes Fusebill a very compelling investment for OMERS Ventures.”
The financing will provide the Kanata, Ont.-based company to position itself as a player in the growing small-to-mid market software-as-a-service billing and analytics space.
Fusebill’s online software automates invoicing, billing and collections of subscription and recurring revenue for small and medium-size businesses.