Xero acquires Swedish e-invoicing platform Tickstar

By Megha Bhattacharya

Xero has announced the acquisition of Stockholm-based e-invoicing infrastructure business Tickstar, driving the adoption of cloud accounting around the world. Tickstar’s technology provides Xero customers in Australia, New Zealand and Singapore with access to a well-established e-invoicing network that enables faster and more secure transactions.

Xero’s Chief Product Officer, Anna Curzon, commented, “The acquisition of Tickstar is an important step in our strategy to help small businesses digitise more of their workflows and get paid faster using cloud-based technologies. As more governments around the world adopt e-invoicing, Tickstar’s technology will help our customers comply with existing and future legislation and realise the many benefits that e-invoicing brings.”

The company will leverage Tickstar’s technology to support its e-invoicing functionality. It will also support the continued delivery of Tickstar’s e-invoicing infrastructure services through the Galaxy Gateway brand to both its existing and new customers, alongside its consulting services.

Recently, European small business lender iwoca announced a UK-first integration with small business platform Xero. iwoca’s invoice checkout – iwocaPay will be integrated into Xero’s platform for enabling small businesses to provide a Pay Later option to their business customers. The collaboration will allow iwocaPay to be directly accessible in Xero. Xero, also announced a partnership with Nedbank, a leading bank in South Africa, to launch South Africa’s first fully digital direct API enabled bank feed.