Summary: We initiate rating coverage of Nitrobox in the Agile Billing market with an MGI 360 score of 42 and a NEUTRAL analyst outlook. Nitrobox was founded in 2016 in Hamburg, Germany as a spin-off from an e-commerce consulting business. The ideal customer is launching a new product or service and seeking a software partner willing to prototype and deliver a modern, consumer-oriented subscription experience. The company gained traction with several global enterprises looking for a fresh approach to billing for newly created business models. The functional footprint is expanding as resources and its customer base grows. Nitrobox has 30+ customers, including several German automotive manufacturers, e-charging networks, and banks needing an invoicing capability beyond an account statement. Implementations are done via a handful of European and mid-tier German integrators. The offering is aimed at product and finance teams needing a billing tool to support new/experimental business offerings. The company has raised several million euros from Porsche Ventures, a business angel, and NeueCapital.

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Competitors: Chargebee, Maxio, Stax Bill, Zuora

About MGI 360 Ratings: MGI 360 Ratings score is a uniform 0 to 100 supplier rating system comprised of 149 unique data points. The scores condense hundreds of hours of research into simple, easy to understand ratings and recommendations to clearly demonstrate differences amongst software vendors. The overall score is comprised of five equally weighted major categories that account for up to 20 points in Product, Management, Channels, Strategy, and Finance. Learn more about MGI 360 Ratings.