Paddle raises $200m to supercharge SaaS companies’ global growth

  • The investment, at a valuation of $1.4bn, follows a period of rapid growth for the payments infrastructure company
  • The round is led by KKR with participation from existing investors FTV Capital, 83North, Notion Capital, Kindred Capital, with additional financing from Silicon Valley Bank 
  • Founded in the UK, Paddle will use the investment to accelerate its global expansion amid rapidly growing demand from scaling Software-as-a-Service (SaaS) companies

London, Tuesday 10th May: Paddle, the provider of a complete payments infrastructure for SaaS companies, today announces it has raised $200m in Series D equity and debt financing at a valuation of $1.4bn, making it the UK’s latest unicorn. Led by KKR, a leading global investment firm, with participation from existing investors FTV Capital, 83North, Notion Capital, Kindred Capital, and debt financing from Silicon Valley Bank, the investment brings the total Paddle has raised to date to $293m.

Paddle will use this investment to strengthen the growth of its platform and to meet the market opportunity that exists for a complete payment infrastructure provider for software companies globally, which will assist in enabling them to scale and sell their products faster, with less risk and lower costs.

SaaS companies are experiencing a period of sustained growth, a trend that was accelerated by the surge in digital transformation during the Covid-19 pandemic and is set to continue as businesses and consumers become ever more used to using digital tools like Zoom to communicate, Miro to collaborate, or Canva to create. The SaaS sector, which was worth $397 billion in 2021, is expected to grow to $692 billion in 2025.*

SaaS companies now have an incredible opportunity to compete and sell their products in any market in the world, but to do so they must also manage payments and operations across multiple geographies and navigate an increasingly complex web of local and international tax and data regulations.

By integrating checkout, payment, subscription management, invoicing, international taxes and financial compliance processes, Paddle offers SaaS companies a completely different approach to payments infrastructure. Instead of assembling and maintaining a complex stack of payments-related apps and services, Paddle acts as a merchant of record for its customers. This enables sellers to activate new business models and enter new markets faster, more easily and with fewer operational and compliance issues.

Paddle’s complete payments infrastructure is used by over 3,000 software companies in more than 200 markets worldwide. With a suite of new platform features and integrations – including the announcement of an alternative In-App Purchasing (IAP) system for iOS developers – as well as rapid international expansion, Paddle has more than doubled its revenue growth since November 2020, contributing to an impressive average annual revenue growth of over 175% over the last four years. It has also scaled its team from 140 to 275 across offices in London and New York, with more hires expected to match its acceleration as a business.

Christian Owens, CEO and co-founder of Paddle, said: “The opportunity in software is enormous, with tens of thousands of incredibly innovative businesses bringing great products to market every year. Unfortunately, many SaaS companies still find their growth hindered by the operational challenges that arise when scaling; from handling subscriptions management or tax compliance to localizing payment options in every market. Paddle was created to remove these invisible barriers so that SaaS companies can just focus on building and selling software. 2021 was a fantastic year for us, but we are only just getting started. We have big plans for 2022 and beyond and we’re delighted to have the backing of so many fantastic investors who all share our vision.”

Patrick Devine, Director at KKR, added: “Paddle is solving a significant pain point for thousands of SaaS companies by reducing the friction and costs associated with managing payments infrastructure and tax compliance. By simplifying the payments stack, Paddle enables faster, more sustainable growth for SaaS businesses. Christian and the team have done a phenomenal job building a category-defining business in this space, and we are excited to be supporting them as they embark on the next phase of growth.”

KKR’s investment was made through its growth equity fund, Next Generation Technology Growth Fund II.

About Paddle:
Paddle helps SaaS companies grow faster with fewer distractions. Instead of wasting time, money, and resources assembling, maintaining, securing, and constantly updating a ‘best of breed’ payments stack, Paddle does it all.

Because Paddle is a SaaS merchant of record, it takes away 100% of the payments complexity—handling all payment routing, tax collection, compliance, invoicing, subscription management, renewals, reporting, and fraud protection.

Paddle has 275 employees serving over 3,000 software sellers in 245 countries and territories globally. Backed by investors including KKR, FTV Capital, Kindred, Notion, and 83North, Paddle aims to define the next wave of B2B SaaS leaders. Visit or for more information.

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at and on Twitter @KKR_Co.

Press contact:

Ed Jones-Davies / Cameron Morrissey

Alastair Elwen / Sophia Johnston
Finsbury Glover Hering
+44 20 7251 3801

Categories: News


Technology & Strategy merges Intys Partners and pursues further growth, with support of Ardian


Technology & Strategy (T&S), the European specialist in technology consulting, announces that it has merged Intys Partners, one of the leading Belgian consulting firms in operations management and digital transformation, formerly held by Omnes.

With the support of Ardian’s Expansion team, T&S is positioned at the forefront of the European consulting and engineering industry.

Founded in 2008, T&S has established itself as a specialist in engineering, digital and project management consulting, with recognized expertise in embedded systems. The company has experienced very strong growth of more than 20% every year, both organically and externally. The merger with Intys Partners, a European firm recognized as a major partner in management consulting with more than 450 employees, is a new step for T&S in its “scale up 2024” plan. It aims to create a one-stop-shop for clients to access the best combination of specialists for their technological transformation.

The combined group will count more than 2,400 employees and show strong expertise, sector and geographic complementarities.

It is now a leading consulting firm, offering expertise in three primary areas: engineering consulting, digital consulting, and operational performance consulting. The geographical footprint is strongly reinforced in the Benelux and now extends from Europe (France, Switzerland, Germany, Benelux) to Asia (Hong Kong, Singapore).

As a multi-specialist player in high-growth niche markets, the merger with Intys Partners will enable the group to strengthen its sector expertise in Healthcare, which now represents 13% of combined revenues.

Attracting new talent – an essential pillar to the Group’s strategy – will be strengthened by offering opportunities for career growth and opportunities to work abroad.

Globally, new synergies resulting from the integration of Intys Partners will enable T&S group to develop around strong brands which are better able to serve clients.

“Intys is above all a meeting with a manager and a company with a similar history to the one of T&S. The strong complementarity of our offers, our businesses and above all of our people will enable us to achieve our common ambition of going further, stronger, together. ” Jérémie Huss, Co-Founder and CEO of T&S Group

“Recently, one of our major clients told me: “Intys, we greatly appreciate your ability to understand our business, but also the innovative way you look at our projects. The question I want to ask you is, when will you be ready to deliver the same level of quality not only in Belgium, but also further abroad?” Today, with this merger, I am convinced that we are ready. “ Philippe Metz, CEO of Intys

“Supporting high-growth, ambitious companies looking to expand outside their home market is at the heart of our investment philosophy. We are pleased to support the management of T&S in this new stage of development, which confirms the group’s abilitý to continue its growth while participating in the consolidation of the sector.” Marie Arnaud-Battandier, Managing Director Ardian Expansion

List of Participants

  • Technology & Strategy:

    • Jérémie Huss, Fabrice Tricaud
  • Intys Partners:

    • Philippe Metz, Michel Van Hemele, Katrien De Both
  • Ardian Expansion:

    • Marie Arnaud-Battandier, Arthur de Salins, Thomas Grétéré
  • Buyer Legal advisors:

    • CMS (Arnaud Van Oekel, David Prync, Candice Kunkera)
  • Tax structuring:

    • CMS (Olivier Querinjean), Delaby & Dorison (Emmanuel Delaby, Florian Tumoine, Guillaume Lacombe)
  • Buyer financing advisors:

    • Latham & Watkins (Michel Houdayer, Aurélie Buchinet, Matthieu Herviaux)
  • Buyer M&A advisors:

    • Houlihan Lokey (Sara Napolitano, Gary Kurtz, Zaid Lahsiba)
  • Commercial Due Diligence:

    • Roland Berger (Grégoire Tondreau, Benjamin Verhelst)
  • Financial Due Diligence:

    • 8 Advisory (Philippe Fimmers, Margot De Vylder, Florent Garnier, Pierre-David Forterre, Alain Kabera)
  • Legal, Tax and Social Due Diligence:

    • CMS (Arnaud Van Oekel, Benoit Gomel, David Prync, Candice Kunkera)
  • Omnes :

    • Stéphane Roussilhe, Jess Wizman, Céleste Lauriot Dit Prevost
  • Seller Legal advisors :

    • Hoche Avocats (Grine Lahreche, Sophie Millet)
  • Management Legal advisors:

    • Liedekerke (Damien Conem, Charline Cogels)


Technology & Strategy is a company created in 2008. Specialized in Engineering, IT, Digital and Project Management, T&S supports its customers on innovative development projects. T&S also has an integrated design office to meet the requirements of the market.
Human oriented, and definitely focused on excellence, T&S is a company that shares its expertise with a constant concern for transparency. Technology & Strategy has been able to build trusting relationships with major clients in the industrial, automotive and financial sectors.
International, with a Franco-German DNA, T&S defends an entrepreneurial model supported by its 2000 employees, composed of 30 nationalities spread over 16 agencies and 7 countries (France, Germany, Switzerland, Belgium, United Kingdom, Singapore, Hong Kong).


Created in 2007, Intys now has more than 450 employees in 3 countries, with a strong base in Belgium. The company is recognized as a major consulting partner, particularly in the support and operationalization of strategies.
Its activities are structured around business expertise through 6 brands. Intys Consulting, Intys FSA and Univers Retail in Management Consulting, and Intys Data, Agir, and Vadis Technologies in Technology Consulting. This organization allows the development of an in-depth knowledge of both the sectors and the businesses of its clients, but also the sharing of best practices in terms of strategy execution.
Its ambition is to be a partner of choice for its customers and employees, to maintain its level of operational excellence, but also to have a stronger European footprint, even on other continents.


Ardian is one of the world’s leading private equity firms with $125 billion under management and/or advisory in Europe, the Americas and Asia. The company, majority owned by its employees, has always placed entrepreneurship at the heart of its approach and offers its international investors top-tier performance.
Through its commitment to sharing the value created with all stakeholders, Ardian contributes to the growth of companies and economies around the world.
Building on its values of excellence, loyalty and entrepreneurship, Ardian has an international network of over 850 employees in 15 offices in Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco), South America (Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). The firm manages funds for 1,200 clients through its five investment pillars: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Media Contacts



Philippe Metz  

Sitevision to join forces with IK Partners

IK Partners

IK Partners (“IK”) is pleased to announce that the IK Small Cap III Fund has reached an agreement to invest in Sitevision AB (“Sitevision” or “the Company”), a leading Swedish content management system (“CMS”) and intranet solution provider. IK is investing from its dedicated pool of Development Capital and is acquiring its stake from the founders Anders Korsvall, Karl Eklöf, and Niclas Hedlund, all of whom will be reinvesting alongside IK and will remain majority owners. Financial terms of the transaction are not disclosed.

Sitevision is a rapidly growing and well-renowned CMS and intranet solutions platform, with a market-leading position in Sweden and a growing presence in Norway, among public institutions and mid-to-large corporate clients. The Company offers a single unified platform for both CMS and intranet solutions, allowing clients to manage content, publish information and interact with customers and employees in a flexible and accessible environment.

Sitevision was founded in 2002 in Örebro where its headquarters remain. Today, the Company has grown into one of the leading CMS and intranet providers in Sweden and has local sales presence in Stockholm, Gothenburg and more recently Oslo, as part of its strategic expansion into Norway.

Over the last 20 years, Sitevision has successfully developed and refined its proposition to meet the changing needs of its customers with regards to their external communications, as well as internally towards their employees, against the backdrop of an ever-evolving modern workplace. The core cloud-based CMS and intranet products are easy to integrate and operate with a range of customisable features which allow clients to tailor the system to their specific needs. Sitevision is in the remarkable position of having achieved Sweden’s highest customer satisfaction score for the 13th year in a row for both its CMS platform and intranet solution, according to the “Web Services Award” report.

IK will be partnering with the co-founders to continue investing in the Company’s technological platform, further strengthen its position among public and private customers in Sweden and drive international expansion in the Nordics and beyond. In addition, IK’s Operations team will support Sitevision in further developing its business operations.

Carl Jakobsson, Director at IK and Advisor to the IK funds, said: “Sitevision is a highly impressive outfit operating in an exciting and growing market space that has been subject to rapidly changing dynamics over the past few years. As organisations consciously adapt to new ways of working, the ability to interact with customers and employees efficiently has never been more critical. Anders and his team have built an outstanding reputation in
Sweden as a provider of a secure, user-friendly, yet highly capable product offering. We look forward to working with them to further grow their offering and expand into neighbouring markets.”

Anders Korsvall, CEO of Sitevision, said: “After twenty years of developing our unique proposition, we are delighted to welcome the IK team as our new partner and a specialist in developing and internationalising high-potential tech-enabled business services companies. Their core values align with ours and just as we prefer to be situated close to our customers, IK’s local presence in Sweden, combined with its international platform and long track record of supporting companies of our size and position, was hugely important to us in selecting this promising partnership. We cannot wait to get started with the team and work together on our ambitious growth plans to continue being the platform of choice and fulfil our brand promise of ‘Tell your world’.

For further questions, please contact:
IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 160 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit

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About Sitevision

Sitevision AB is a leading Swedish provider of CMS and Intranet solutions. The headquarters are located in Örebro with sales offices in Stockholm, Gothenburg and Oslo, serving customers all over Sweden and internationally. For more information visit:

Categories: News


Ardian announces the sale of its stake in MBK Fincom (ProduceShop) to Gilde Buy Out Partners


Ardian, a world-leading private investment house, announces that it has sold its stake in MBK Fincom (“MBK”), known as ProduceShop.

MBK, based in Switzerland, has developed a data-driven technology platform to create a new e-commerce model that gives customers access to a wide range of products. Leveraging its expertise in data analytics, MBK develops and markets its own digital brands across Europe and offers the best value for money for a wide range products, ranging from home furnishings, gardening and fitness equipment.

Alongside its 29 proprietary brands, MBK also sells products from partner brands on its ProduceShop website. MBK’s European presence is growing, with the company now selling in 24 countries, including Italy, France, Germany, Spain, Austria and Switzerland.

Since Ardian Growth took a stake in the company in 2020, MBK has tripled its revenues by accelerating its international development and diversifying its product offerings. It has also strengthened its technological expertise by investing in software tools.

“The partnership with Ardian has enabled us to accelerate our development,. Subsequently, we have rapidly taken on a European dimension while strengthening our internal resources, both human and technological. We are now entering a new chapter in our history and we look forward to working with Gilde in this new stage.” The Co-Founders, MBK

“We were very pleased to work with and support the growth of MBK. This is a perfect example of the entrepreneurial journeys we wish to support: ambitious founders and managers who aim for international development. This transaction follows several European investments in the digital sector, notably in Italy and Germany, and demonstrates our ability to be a strategic partner for European entrepreneurs. We would like to thank the entire MBK team.” Romain Chiudini, Managing Director within the Ardian Growth Team

“MBK is a perfect example of entrepreneurs who continue to innovate, even in the e-commerce market. Thanks to our multi-local European network, recently strengthened by a presence in Italy, and our cross-fertilisation expertise within Ardian’s Growth team, we identify talented entrepreneurs and act as a partner in scaling them up.” Bertrand Schapiro, Managing Director within the Ardian Growth Team





Ardian is one of the world’s leading private equity firms with $125 billion under management and/or advice in Europe, America and Asia. The company, which is majority-owned by its employees, has always placed entrepreneurship at the heart of its approach and offers its international investors a first-class performance.
Through its commitment to sharing the value created with all stakeholders, Ardian contributes to the growth of companies and economies around the world.
Building on its values of excellence, loyalty and entrepreneurship, Ardian has an international network of over 780 employees in 15 offices in Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco), South America (Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). The firm manages funds for 1,200 clients through its five investment pillars: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Follow Ardian on Twitter @Ardian


MBK Fincom is a dynamic and technology-driven e-commerce company based in Switzerland, active in the sale of home & living branded goods, Europe-wide. MBK co-designs and improves the features of its products in order to offer consumers the best value-for-money option. The mission of MBK is to simplify the online process of research and purchase, including free home delivery. The variety of articles, together with the attention to quality and design, has allowed MBK to grow rapidly into a prominent European leader in the sector.



Apax Funds to acquire Alcumus

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Funds advised by Apax Partners LLP (the “Apax”) announced today that they have reached a definitive agreement to acquire a controlling stake in Alcumus (or “the Company”), a global leader in technology-led risk management and compliance solutions, from Inflexion. The Company’s management team will remain significant shareholders in the business following the transaction. The transaction is subject to customary closing conditions and is expected to close end of Q1 2022. Financial terms were not disclosed.

Alcumus helps organisations of all sizes anticipate, manage, and avoid risks, thereby improving outcomes for employees and company operations. Alcumus has a unique breadth of technology-enabled services, providing solutions to over 42,000 contractor and supplier customers, and over 3,000 enterprises. These services are critical in improving worker protection and compliance with regulations and international standards. Apax’s expertise across software, services, ESG and digitisation, ideally positions it to partner with Alcumus’s management team in the next stage of the Company’s evolution.

Alyn Franklin, CEO, Alcumus, said: “I’m so proud of what we have been able to achieve already to-date and am confident we have the right strategic partner in Apax to support our next phase of growth. The solutions Alcumus provide are trusted around the world, from our expanding member base of SME’s through to some of the most prominent, international enterprise brands.  Now Apax will help us unlock even more value from our chosen markets.”

Frank Ehmer, Partner, Apax, commented: “EHS services is a sector Apax knows well having followed the space for a number of years, and we have long considered Alcumus as a stand-out player in this market. We believe Alyn, senior management, and the entire employee base of Alcumus, represent a best-in-class team, who are set to continue and accelerate their strong track record.”

Anders Meyerhoff, Partner, Apax, added: “We have been incredibly impressed with the high-quality business and culture that Alyn and his team have built. We are excited to partner with such great people and look forward to further supporting Alcumus and all the employees as they create a safer and more sustainable world.”

Apax was advised by Allen & Overy LLP (lead counsel), Houlihan Lokey (lead financial advisor), the Boston Consulting Group (commercial advisor) and Deloitte (financial and tax advisor). Alcumus was advised by Eversheds Sutherland LLP (legal advisor) and Harris Williams & Co. (financial advisor).

Categories: News


Onex Partners to Invest in Analytic Partners


Toronto, ON, New York, NY, February 8, 2022 – Onex Corporation (“Onex”) (TSX: ONEX)
today announced that Onex Partners V, Onex’ $7.2 billion fund, has agreed to make a significant
investment in Analytic Partners, Inc. (“Analytic Partners” or the “company”) in partnership with
the company’s founder.

Analytic Partners is a leading cloud-based, managed software platform which helps global F1000
customers assess marketing spend effectiveness and optimize future allocations across offline and
online media channels. Founded in 2000 and headquartered in Miami, Florida, Analytic Partners
deploys its solutions, supported by a proprietary longitudinal dataset, across 55 countries with
approximately 270 employees throughout 14 offices globally. In The Forrester Wave™:
Marketing Measurement and Optimization Q1 2022 report, Analytic Partners was named a Leader
and was top ranked in the Strategy category among all evaluated vendors.

“We are delighted to add the intellectual and financial firepower of Onex Partners to Analytic
Partners to further accelerate our growth,” said Nancy Smith, Founder, President and CEO of
Analytic Partners. “Our partnership with Onex Partners aligns perfectly with our core values of
People, Passion and Growth. Through our employee equity plan I am proud to announce that
every member of our team will benefit from this investment. Our customers, who are the
motivation for our Passion, will also benefit greatly as our partnership with Onex Partners will
further accelerate our technology leadership, drive more innovation, and help us deliver the
solutions our clients need to Adapt, Evolve and Thrive in a rapidly changing marketing landscape.
This is a true win/win/win for our customers, our team and our partners.”
“We feel incredibly privileged that Nancy has chosen us as her partner to continue building
Analytic Partners. The company’s GPS Enterprise managed software solution, supported by its
proprietary ROI Genome dataset and analytical capabilities, have allowed Analytic Partners to
provide a compelling value proposition to its customers and we expect this to continue,” said Kosty

Gilis, a Managing Director at Onex Partners. “We are extremely enthusiastic about the company’s
prospects as the need to accurately assess the effectiveness of marketing campaigns will continue
to grow which, combined with the opportunity to further leverage Analytic Partners’ capabilities
across a wider range of end markets and geographies, presents a compelling value creation
opportunity over the coming years.”
The transaction is anticipated to close later this year subject to customary closing conditions. The
terms of the transaction are not being disclosed at this time.

On this transaction, Goldman Sachs & Co. LLC acted as exclusive financial advisor and Willkie
Farr & Gallagher LLP acted as legal counsel to Analytic Partners. Latham & Watkins LLP acted
as legal counsel to Onex Partners.

About Onex
Founded in 1984, Onex manages and invests capital on behalf of its shareholders, institutional
investors and high net worth clients from around the world. Onex’ platforms include: Onex
Partners, private equity funds focused on mid- to large-cap opportunities in North America and
Western Europe; ONCAP, private equity funds focused on middle market and smaller
opportunities in North America; Onex Credit, which manages primarily non-investment grade debt
through tradeable, private and opportunistic credit strategies as well as actively managed public
equity and public credit funds; and Gluskin Sheff’s wealth management services. In total, as of
September 30, 2021, Onex has approximately $47 billion of assets under management, of which
approximately $7.9 billion is its own investing capital. With offices in Toronto, New York, New
Jersey, Boston and London, Onex and its experienced management teams are collectively the
largest investors across Onex’ platforms.
Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more
information on Onex, visit its website at Onex’ security filings can also be
accessed at

About Analytic Partners
Analytic Partners is the leading cloud-based, managed software platform which provides adaptive
solutions for deeper business understanding and right-time planning & optimization for marketing
and beyond. We turn data into expertise so that our clients can create powerful connections with
their customers and achieve commercial success. For more information on Analytic Partners, visit
its website at

Forward-Looking Statements
This press release may contain, without limitation, statements concerning possible or assumed
future operations, performance or results preceded by, followed by or that include words such as
“believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and words of
similar connotation, which would constitute forward-looking statements. Forward-looking
statements are not guarantees. The reader should not place undue reliance on forward-looking
statements and information because they involve significant and diverse risks and uncertainties
that may cause actual operations, performance or results to be materially different from those
indicated in these forward-looking statements. Except as may be required by Canadian securities
law, Onex is under no obligation to update any forward-looking statements contained herein
should material facts change due to new information, future events or other factors. These
cautionary statements expressly qualify all forward-looking statements in this press release.

For Further Information:
Jill Homenuk
Managing Director – Shareholder Relations
and Communications
+1 416.362.7711
Analytic Partners
Kendall Allen Rockwell
WIT Strategy

Categories: News


Baird Capital Portfolio Company Vitalyst Sold to Alithya

Baird Capital
Today, Baird Capital announced portfolio company Vitayst has been sold to Alithya, a leader in strategy and digital transformation. Baird Capital engaged with investment bank G2 Capital Partners on the sale process.Founded in 1992, Vitalyst is an award-winning Microsoft Gold Partner that provides best-in-class employee experience and transformative change enablement services via an on-demand, subscription-based training platform. Vitalyst serves as a strategic partner to a diverse base of Fortune 1000 blue-chip customers across a wide variety of industries. The company is headquartered in Bala Cynwyd, Penn., and serves customers throughout the United States as well as in over 20 countries. Baird Capital initially invested in Vitalyst, formerly known as PC Helps, in September of 2012.

Learn more about the acquisitionLearn more about Baird Capital’s Technology & Services sector expertise.

Cegeka and data specialist Solver Sweden join forces


03/02/2022 – 10:00 | Portfolio

European IT company Cegeka acquires a majority stake in the data specialist Solver Sweden AB. This strategic partnership with Solver Sweden represents an important step for Cegeka in their expansion into Scandinavia. Solver Sweden has three offices in Sweden, with headquarters in Stockholm and a staff of 25 employees. Solver Sweden has been an established player in the Swedish business intelligence and data engineering market for over 15 years. No financial details of the partnership will be disclosed. The acquisition doesn’t include the Global Solver operations.

Data is playing an increasingly important role
The partnership with the company Solver Sweden is part of Cegeka’s strategy to respond to the ever-growing demand for data and AI partners. “Now more than ever, companies are looking for guidance from experts with experience in data and AI. There is a lot of growth potential in Europe, and especially in Scandinavia. Solver Sweden offer this kind of expertise, and their team in Stockholm and the offices in Gälve and Falun have plenty of data experience to draw on,” says Kristel Demotte, Global VP Data Solutions at Cegeka. Solver Sweden has also been rewarded by Microsoft as a Gold Partner for Data Analytics.

Data is the most valuable asset an organisation can have to achieve growth in today’s business environment. With drivers such as 5G and the cloud, the importance of data can only continue to grow. “I truly believe that companies whose thoughts and actions are driven by data have an edge over the competition – they can offer their customers a more individual and efficient service and can generate new revenue and optimise operational costs”, Kristel says.

Categories: News


Bold Announces $55M Series B Investment to Drive Continued Transformation of Colombia’s Digital Payments Ecosystem

General Atlantic

Growth investment from Tiger Global Management and General Atlantic to support Company in expansion of product suite, geographic reach, and team

Bold, a financial technology company enabling financial access to electronic payments in Colombia, today announced a $55M Series B investment led by Tiger Global Management, a leading investment firm, with participation from General Atlantic, a leading global growth equity firm, and Endeavor Catalyst. Existing investors Piton Capital, GFC, InQLab, Kingsway Capital, Solid Ventures, Grupo Auteco, Amador and Condor Inverlink also participated in the round. Bold plans to leverage the new funds to expand its product and service offering into adjacent financial services for merchants, including working capital financing, lending, deposit accounts, debit and credit cards, as well as to accelerate geographic expansion and hire new talent.

Bold is an emerging independent merchant-acquirer with the mission of promoting financial inclusion by expanding the digital payments ecosystem in Colombia. Bold serves small and medium-sized businesses (SMBs), allowing merchants to enroll in just five minutes – versus an average of 15 days with legacy banks – and providing low-cost payment terminals that enable businesses to accept link payments and other local payment methods, with no monthly point-of-sale fees. Merchants supported by Bold have seen sales grow approximately 25% on average simply by enabling digital payments.

Bold was founded in 2019 by José Vélez, Ana María Sandoval, Enríque Ramírez, Jorge Ulloa, and Sergio Vergara. Vélez is the former co-founder and CEO of PayU Latam, a leading online and cross-border payments technology platform. Since its inception, Bold has scaled to more than 380 employees and generated strong traction with merchants, reaching over 100,000 acquired merchants in this time frame. In Colombia, where cash still represents more than 80% of transaction volume, versus 35% in Brazil and 30% in the United States, Bold is laying critical groundwork for small businesses to begin expanding their customer bases and entering the next generation of payments.

José Vélez, Co-Founder and CEO of Bold, said, “Colombia is at an inflection point in the transition from a cash to a digital payments economy. At Bold, we are passionate about unlocking the growth potential of small business by providing easy to use and affordable financial services, and we see a unique opportunity to accelerate the change to digital payments for the benefit of merchants and consumers alike. We look forward to the support of both Tiger and General Atlantic as we focus on growth and deepening the value that we provide to our customers.”

“Despite the fact that small and medium sized businesses are the engine of the Colombian economy, they haven’t had the opportunity to access electronic payments because they are constantly overlooked by established banks. Bold offers small merchants a much-needed opportunity to access digital payments,” commented John Curtius, Partner at Tiger Global Management. “What stands out at Bold is their mission to help small and medium businesses succeed by creating great products which are affordable and easy to use. We are happy to support Bold´s plans to scale and expand its financial services.”

“Bold is a dynamic player with the opportunity to lead the shift towards innovative payments solutions that leverage consumers’ increased access to credit and meet the heightened demand for electronic payments for millions in Colombia, a region that is ripe for innovation,” continued Luiz Ribeiro, Managing Director at General Atlantic. “The platform plays a unique role as the gateway for small merchants in Colombia to begin accepting digital payments, and we are proud to back José and the seasoned management team at Bold as they scale.”

About Bold

Founded in 2019 and headquartered in Bogotá, Bold is a leading independent merchant acquirer and one of the largest and fastest-growing fintech companies in Colombia. The company’s mission is to help entrepreneurs and their businesses prosper by providing simple, secure and affordable financial tools. With its innovative POS terminal and free app, Bold currently empowers more than 100,000 merchants across Colombia to grow their businesses by accepting a wide variety of payment methods. For more information, visit the website:

About Tiger Global

Tiger Global Management is a leading global technology investment firm with over $90 billion under management. The firm focuses on private and public companies in the software, internet, and financial technology sectors. Since 2001, Tiger Global has invested in hundreds of companies across more than 30 countries, including investments ranging from Series A to pre-IPO. The firm aims to partner with dynamic entrepreneurs operating market-leading companies in its core focus areas.

About General Atlantic

General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $86 billion in assets under management inclusive of all products as of September 30, 2021, and more than 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore and Stamford. For more information on General Atlantic, please visit the website:

Media Contacts

Emily Japlon & Casey Gunkel
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Categories: News


MariaDB announces intentions to list on New York Stock Exchange via SPAC and a EUR 92 million Series D round


Maria DB, known for the open-source database software it develops and provides, has announced it intends to list on New York Stock Exchange (NYSE) by merging with Angel Pond Holdings, a listing method also referred as a SPAC (Special Purpose Acquisition Company). By doing so, MariaDB becomes the first Finnish company to list on the NYSE through SPAC.

MariaDB also announced it has raised a EUR 92 million Series D funding round wherein the buyer Angel Pond and some of the existing investors invested.

“The foundation for Tesi’s investment was the professional team, the strong technology knowhow and the global and ambitious growth story the company possesses. During the journey there have been several challenges and adversities, but we have always found the right solutions together with the management, board members and investors”, comments the announcements Keith Bonnici, Investment Director at Tesi (Finnish Industry Investment).

Tesi first invested in the company in 2012.

Read more:

Further information:

Keith Bonnici, Investment Director, Tesi
+358 40 1799 584

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 2.1 billion euros. | @TesiFII

Categories: News