Royal Bank Ventures, the technology venture capital fund of the Royal Bank of Scotland, has led a $5m (€5.4m) investment in Omnicom, a billing systems technology company.
This is Omnicom's third round of fundraising. The other investors were Bayerische HypoVereinsbank, the German bank, and Nexus, the Guernsey-based specialist telecoms investor. The new financing will allow Omnicom to expand its marketing and sales activities in the European telecommunications market and in South East Asia. Fiona-Jane MacGregor, investment director at Royal Bank Ventures, said: "Despite difficulties in the wider telecoms sector, analysts are forecasting strong growth for billing solution providers as telcos seek to differentiate their services through more advanced revenue management systems."
