Visma's valuation skyrockets to €19B with new investments

Today Norwegian cloud software provider Visma announced multi-billion euro investments that bring the company’s value to €19 billion.

The company has expanded its shareholder base with around 20 new investors, including Altaroc, Jane Street and NYC Retirement System, worth over €1 billion of equity investment through a secondary sale to international shareholders.

This results in around €3 billion new investment from existing shareholders, including Hg, who will continue its 17-year-long investment in the business with a majority stake, and a group of co-investors, including ICG, TPG and Visma management.

 Merete Hverven, CEO of Visma shared: 

“We are delighted to receive this further vote of confidence from Hg and other leading investors in a transaction that confirms our stellar development and attractive outlook. 

Visma delivers the digital tools that businesses need to drive efficiency, innovate and stay competitive. 

Supported by a solid and knowledgeable shareholder base, we are perfectly positioned to continue our unique growth journey."

Visma is the largest privately-owned software business in Europe, and a leading provider of cloud accounting and ERP solutions to small and medium-sized businesses.

The company acquired Legis 365 maker iVISION in November, and tax compliance firm Quaderno in September.

Visma’s annualised repeatable revenue (ARR) stood at €2.2 billion at the end of Q3 2023, representing a growth of 17 percent from the same period last year and 17 years of uninterrupted, year-on-year, revenue and EBITDA growth.

Nic Humphries, Senior Partner at Hg, said: 

“Today, Visma is Europe’s largest private equity-owned software business, growing twice as fast now, compared to when we first invested in 2006, despite having become a business that’s over 20 times larger.

This incredible achievement results from the investment in modern SaaS products over ten years ago, progressed by a thirst for innovation and a world-class management team led by Merete.

We welcome our new investors and look forward to the next chapter of this European tech success story.”