Techjockey News

New Delhi: Visma AS, a Norway-based SaaS company has received fresh capital from both existing and new investors. This investment amount was more than 4 billion euros, which increased its total valuation of 19 Billion Euros (approximately $21 billion). The recent investment aims to support Visma’s global expansion efforts.

Out of the total investment 1 billion euros came from the 20 new investors like NYC Retirement, Jane Street, Altaroca etc. Moreover, the remaining 3 billion euros is invested by existing investors including GgCapital LLP, Visma Management, TPG and more.

Visma has over 11000 employees and sells software for accounting, HR and payroll across the Nordic, Baltic, and Benelux regions. This privately owned form made over 2 billion euros in 2022, which is 17% more than the prior year.

Moreover, according to Nic Humphrises, the senior partner at HG, Visma’s growth rate has doubled, making it the largest private equity-owned software company in Europe.

As part of the investment deal, Hg will retain its majority shareholder position in Visma. The company had initially considered going public in 2021 but opted for private funding due to economic uncertainties.

Visma’s Chief Executive, Merete Hverven, stated that the current investment positions the company well for continued growth without mentioning plans for an initial public offering (IPO).