Paris-based Sellsy has raised €55 million in a new funding round. The startup provides customer relationship and financial management services specifically tailored to the needs of SMEs.
According to a statement issued on behalf of PSG, the €55 million will be used to accelerate Sellsy’s growth, but also concludes with wording more typical of an acquisition, “The financial terms of the transaction are not disclosed.”
As a reminder, PSG is in the business of “partnering” with specific organisations and usually clocks in with an "investment" figure somewhere between €40 million and €60 million. According to the company they’ve, "backed more than 85 companies and facilitated over 325 add-on acquisitions."
Since its founding in 2009, Sellsy has garnered approximately 6,000 SME customers, primarily through organic growth, and serves approximately 35,000 end-users. Since 2009. Right.
Just as a reminder, Sellsy’s new funding is a €55 million private equity funding round. Not an acquisition.
“We are delighted to be partnering with Alain, Frederic, Victor, and the rest of the team at Sellsy as we look to build on the company’s market-leading position in France,” said Christian Stein, Managing Director at PSG. “We believe that Sellsy is well-positioned to benefit from the growing digitisation of SMEs and has the potential to become an all-in-one CRM and FMS software champion for SMEs in France and Europe.”