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Orbyt has acquired Telia’s eInvoice Services in Finland
Helsinki, Finland – Orbyt, a leading Office of the CFO software provider for accounts receivable automation and integrated payments has acquired Telia’s Finnish activities dedicated to providing eInvoice services (also known as “Telia Talous”). This strategic investment strengthens Orbyt’s position as a leader in the Finnish market, materially accelerating the growth of the combined entity, and enhances its commitment to providing exceptional value to its customers thanks its innovative solutions.
The Orbyt platform is tailored to the needs of large enterprise invoice senders and an extensive distribution partner network. Orbyt focuses on selected key verticals that are characterised by large customer bases and recurring digital invoicing needs, such as financial services, debt collection, telecom, utilities, insurers, as well as the public sector.
Orbyt’s objective is to become established as the leading European accounts receivable automation provider with deep payment integration capabilities. This investment and business combination represents a significant step in the company’s mission and growth trajectory to further accelerate the journey to provide enterprises Office of the CFO digitisation solutions while also improving the customer experience for both consumer and business billing activities.
The strategic rationale behind this acquisition aligns with Orbyt’s goal to become the leading provider of invoicing and payment solutions for the Finnish market. By partnering with Telia Talous, Orbyt gains a wealth of expertise and resources, allowing for the development of new service offerings and an even stronger focus on its suite of technological innovation.
Orbyt helps to drive digitalisation, optimising clients’ cash flows as well as providing tangible support to its client base, enabling them to achieve ESG targets including the reduction of environmental carbon footprints through a reduction in the amount of printed papers used on a daily basis. Furthermore, Orbyt also supports customers in their preferred payment channels by providing them with a truly unique and advanced invoicing experience.
Key Highlights of the Acquisition:
- Leadership in the Finnish market: Orbyt’s acquisition of Telia Talous strengthens its position as the market leader of eInvoice Services in Finland. The combined expertise of both companies will drive growth and innovation in the industry.
- Customer-centric focus: Orbyt remains committed to delivering exceptional value to its customers. The acquisition will enable the company to offer new capabilities and improved services, ultimately enhancing the customer experience. Through the onboarding of Telia’s customers onto Orbyt’s platform, customers will access to new and innovative invoicing and payment capabilities specifically tailored for the Finnish market, as well as increased agility and pace of innovation.
- Continuity for Telia Talous customers: the transaction ensures a smooth transition for Telia Talous customers. Orbyt is well-prepared to serve as a caretaker for these valued clients, ensuring uninterrupted services and support.
- Expertise and reliability: Orbyt’s reputation as an expert and solid partner in the field of eInvoice Services is further strengthened through this acquisition. Customers can trust in Orbyt’s capabilities and dedication to their success.
As part of this acquisition, all staff from Telia Talous will transfer to Orbyt, ensuring a seamless transition and continuity of services for existing customers. Orbyt is committed to preserving the relationships and trust that Telia Talous has built with its clients over the years.
“We are thrilled to welcome the talented team from Telia Talous into the Orbyt family. Together, we will continue to drive innovation and provide best-in-class invoicing and payment solutions to our customers, furthering our mission to digitize invoicing and payment processes for our customers.”
Rune Løbersli, Chief Executive Officer at Orbyt, commented
“The transaction is in line with Telia’s strategy to transform and simplify its business and operations. We believe that the best opportunities for the further development of Telia Talous services and solutions for the benefit of the customers will be under Orbyt’s ownership, as producing and offering this kind of services are at the very core of Orbyt’s business. As Orbyt employees, the people responsible for Telia Talous business also have good opportunities for career development and learning, as well as internationalization if they so wish.”
Jari Rapo, Head of Enterprise Business at Telia Finland, commented
This acquisition represents a significant milestone for Orbyt and the eInvoice Services industry in Finland. With the combined strengths of Orbyt and Telia Talous, customers can expect even greater value and innovation in the years to come.
For further information and media enquiries, please contact:
Thomas Voksø, Chief Strategy Officer at Orbyt – firstname.lastname@example.org
Communications, Telia – email@example.com
Information about the companies:
Orbyt AS (“Orbyt”) was founded in 2009 as EDIGard AS and over the years it has experienced significant growth. Orbyt has today become a leading Office of CFO software platform providing accounts receivable automation and integrated payments services throughout the Nordics thanks to its ability to operate seamlessly across all countries. Orbyt is headquartered in Kristiansand, Norway, and operates with offices in Sweden, Finland, Denmark, UK, Latvia and increasing presence in Germany. Orbyt employs more than 60 invoice and payment experts, working hard to shape the future of digital invoicing and payments in Europe. Since June 2022, Orbyt is majority owned by AnaCap, a market-leading partner for founders and entrepreneurial management teams, across software, technology and services companies operating within the European financial ecosystem, with a minority held by Orbyt employees.
In recent years, Telia has grown from a traditional telecommunications operator to a modern technology and media company offering a wide range of telecommunications, IT and digital services to its millions of consumer and business customers. Telia has 4,000 employees and almost 4,5 million subscription customers in Finland. We invest each year about EUR 200 million in connections in Finland. www.telia.fi
Telia Finland is part of Telia Company, which operates in the Nordic and Baltic countries. The company’s turnover in 2022 was EUR 8.5 billion. The company is committed to being CO2 neutral and waste-free throughout its value chain from suppliers to customers by 2030. www.teliacompany.com
First published 23 October 2023, updated 02 November 2023.