ActiveCap invests €2M in leading software company

The objectives include strengthening management and billing capabilities and accelerating innovation and expansion of the Portuguese company T&T’s KeyInvoice service — a solution set to further enhance ease of use, reliability and adaptability to SME needs.

ActiveCap – Capital Partners (“ActiveCap”), through its fund ActiveCap I&D II – Fundo de Capital de Risco Fechado, is investing approximately €2 million in T&T – Telemática e Tecnologias de Informação, Lda. (“T&T”), a Portuguese company specializing in the development of invoicing software and business management solutions.

This strategic investment targets a national company founded in 1991, which initially operated in the sale of IT equipment and technical support, later evolving into the development of proprietary software. Over the past three decades, T&T has consolidated its market presence, standing out with its KeyInvoice product — an online invoicing platform now used by thousands of companies across multiple sectors.

KeyInvoice, recognised for its ease of use, reliability and ability to adapt to the needs of SMEs, has been one of the main drivers of the company’s growth, supported by a highly experienced team in software development and specialized technical support.

The investment by ActiveCap I&D II will enable the acceleration of technological development of the invoicing software, significantly expand its range of functionalities and strengthen the technical team. The objective is clear: to deliver an even more comprehensive solution, designed to scale and keep pace with the diversity and growth rate of different sectors within the Portuguese market.

With this reinforcement, T&T enters a new phase of growth, strengthening its competitiveness and responsiveness in an increasingly digital and demanding market.

Paulo Marques, Founder and CEO of T&T, commented on the transaction:

“T&T and its team are embracing a new technological reality by integrating this project, and we highlight the importance of ActiveCap’s investment, thanking them for the confidence placed in us for its future execution.”

José Vale, promoter of the initiative and representative of the Fund for business growth, stated that:

“The ideal conditions are now in place for the development and implementation of the new functionalities planned for KeyInvoice, as well as the complementary products already designed. We strongly believe these will be highly differentiating and useful for SMEs, with their launch scheduled for mid-2026.”

Pedro Correia da Silva, Partner at ActiveCap, added:

“With the continuous growth of a new generation of entrepreneurs, born into and oriented towards technology, it is critical to provide invoicing tools that simplify business start-up and support the scalability of small businesses and start-ups. T&T has demonstrated this capability by responding to these needs, and we believe it can continue to expand in this clearly growing segment across Europe. ActiveCap’s investment will accelerate innovation, expand functionality and position the company as one of the leading national players in invoicing software for SMEs.”

The transaction also benefited from financial advisory services provided by Auren and legal advisory services from Morais Leitão.

About T&T – Telemática e Tecnologias de Informação

Headquartered in Lisbon, T&T specializes in the development of technology solutions focused on business management. The company is best known for its KeyInvoice invoicing software, used by thousands of companies and professionals in Portugal. With over three decades of experience, T&T maintains a strong commitment to innovation, security, ease of use and close relationships with its clients.

About ActiveCap – Capital Partners

ActiveCap – Capital Partners, SCR S.A., is a venture capital fund management company specializing in businesses with high growth potential. Through an active investment management approach, ActiveCap aims to provide funded companies with the resources required to achieve their expansion and optimization objectives.