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​Invoice2go raises $15m in Series C funding round

Invoice2go has raised a total of $50 million in funding thanks to investors Ribbit Capital and Accel, and will use it to further grow its product offering.

Australian online invoicing startup Invoice2go has raised an additional $15 million in its Series C funding round, as part of plans to further grow its product offering.

The funding round was led by existing Silicon Valley investors Ribbit Capital and Accel. This funding round takes the total funds raised by the company to $50 million, after it closed two previous rounds in 2014 totalling $35 million.

Additionally, the company has announced the launch of its mobile payments feature, powered by Stripe Connect. To be available to Australian users in 2016, the feature has been designed to allow small businesses to accept credit and debit card payments from customers.

Invoice2go founder Chris Strode told ZDNet the company plans to use the funding and this new payments feature to aggressively move into the fintech space.

"Our product just naturally leads into [the fintech] space. Another thing we're announced is we've hit a new milestone: Invoice2go is invoicing $1 billion every month, so by adding products like payments, which is a fintech product, we've got immediate impact from day one with the volume we've got," he said.

Strode added that the funding will also be used to fund releases of additional products -- the payments feature is just one of the first as part of the company's roadmap.

"We've always solved the problem of helping small businesses get a lot more time back and we want to do it by giving them more products to create more time for them," he said.

"What we find is that users have a real trust for Invoice2go after they've used it for a considerable amount of time, so there's a whole bunch of other stuff that businesses need and we have the potential to deliver that."

In commenting on the company's partnership with Stripe, Strode said it will further grow the company's international reach.

"We've recognised [Stripe] has got real internationalisation. Invoice2go goes out to 11 different languages and gives us access to 50 countries. Stripe also has the global reach, so for us it makes sense to turn a lot of these other countries where we aren't already operating effectively with Stripe," he said.