Smart Bill

SmartBill is a Romanian financial technology company specializing in software-as-a-service (SaaS) solutions for billing, inventory management, and accounting. The company primarily serves the Romanian market, catering to a wide range of clients from freelancers and small to medium-sized enterprises (SMEs) to larger corporations. Its business model is subscription-based, generating revenue from fees for its cloud-based software.

The company was founded in Sibiu in 2007 by Ioana Hasan, Radu Hasan, and Mircea Căpățînă. The founders, who had a background in programming and outsourced web development, identified a market opportunity when Romanian legislation changed to permit digital invoicing upon the country's entry into the EU. Starting with no external funding or business experience, they developed the software initially to solve their own invoicing problems before offering it to the market. A significant milestone was the 2014 launch of a cloud version of the software, which now accounts for 95% of its client usage. Another key development was the full integration with Romania's national e-Factura system, a mandatory electronic invoicing platform. SmartBill automated this complex process for its users, ensuring their compliance with national regulations.

SmartBill's core offering is a suite of cloud applications that automates and digitizes key financial processes. The platform allows users to generate and manage invoices, track expenses, manage inventory, and handle accounting tasks. Key features include automated tax calculations, recurring billing, payment gateway integrations, and customizable templates. A crucial function is its direct integration with the Romanian tax authority's (ANAF) Virtual Private Space (SPV), which simplifies the mandatory submission of electronic invoices. The system is designed to be accessible from any internet-connected device, providing flexibility for remote work.

The company's growth trajectory includes securing over €1 million in venture capital in 2016 from Catalyst Romania and Gecad Ventures. In late 2019, Norwegian software group Visma acquired a majority stake, aiming to expand its footprint in Central and Eastern Europe. Visma later acquired the remaining shares, completing a full takeover by 2024. Despite the acquisition, SmartBill continues to operate as an independent brand, with the founders initially remaining in operational control to execute the growth strategy. As of early 2025, co-founder Radu Hasan has stepped down as CEO, with Alex Leca taking over leadership to continue the company's expansion.

Keywords: financial technology, SaaS, billing software, invoicing software, inventory management, accounting software, Romanian startup, e-invoicing, e-Factura, ANAF integration, Visma, Radu Hasan, Ioana Hasan, Mircea Căpățînă, SME financial tools, cloud accounting, subscription model, Catalyst Romania, digital invoicing, Romanian market, business automation