Visma

What Visma does

Visma is a Norwegian-headquartered, Hg Capital-controlled (approximately 70%) software group founded in 1996 that owns and operates a portfolio of approximately 150-200 autonomous software companies serving roughly 2.5 million customers across Northern Europe and Latin America. The portfolio spans core ERP/accounting platforms (Visma.net ERP, Business NXT, AccountView, e-conomic with ~270,000 Danish customers, Netvisor as Finland's leading SaaS accounting, Tripletex, Nmbrs for payroll/HR) supplemented by 70+ modules covering payroll, HRM, expense management (Mobilexpense, Acubiz), e-invoicing (Maventa/AutoInvoice, InExchange Hubix, Quaderno), document AI (SmartScan, DocScan), electronic signatures (Visma Sign, Penneo Sign, ValidSign), education (Vklass, Wilma, InSchool, Xedule), healthcare (Flyt Helse, Flyt Barnevern), and property management (Tampuuri), with AI layers including the Machine Learning Factory, Optimization Factory, GAiA Assistant, and Spiris AI Assistant on top of a shared Visma Connect identity layer.

Revenue is generated predominantly through recurring SaaS subscriptions, with on-premise/perpetual license and professional services revenue on legacy products. Reported revenue is €3,168 million (LTM FY 2025), with nearly 12% organic growth cited in mid-2025. The company employs 10,000+ people and operates through direct sales by portfolio companies, channel partners (notably accounting firms), online self-service for SMB SaaS products, and Visma's Trust Centre / developer community for enterprise and integration buyers. Geographic footprint spans Norway, Sweden, Finland, Denmark, the Netherlands, Belgium, France, Germany, Portugal, Spain, Italy, Croatia, Austria, Switzerland, the Baltics, Brazil, Chile, and Argentina.

Hg Capital took Visma private in 2006 and has since executed more than 350 acquisitions to build the portfolio; recent transactions include Inqom (France, 2022), Silverfin (2023), Quaderno (2023), Chaintrust, MyCompanyFiles, Teledec, InvoiceXpress, Moj eRačun, November First, Rex+ Group, Mobilexpense (all 2024), and Link My Books, Evoliz, Lara AI, Rindegastos, ContaAzul (over R$1.7bn / ~$300M+), Alavie, Talana, WeFact, ComunidadFeliz, milia.io, Taxy.io (2025), plus MaisMei and the minority stake in fulll (2026). A planned approximately €20bn London IPO has been postponed to 2027 amid a software-sector valuation reset.

Name

Visma

Legal name

Visma Software International AS

Website

https://visma.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Visma is a Norway-based, Hg Capital-controlled software group owning approximately 150-200 autonomous software companies that deliver SaaS for accounting, ERP, payroll, HRM, expense management, and e-invoicing to 2.5 million SMEs, accounting firms, enterprises, and public-sector customers across Northern Europe and Latin America.

Ownership category

akta.pro rank

Product category

Business Software (Cloud ERP, Accounting, Payroll, HR and E-invoicing)

NAICS

Software Publishers (51321), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518), Offices of Certified Public Accountants (541211)

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Core ERP Suites (Financials, Procurement, Projects) (HDAEAEAA)

akta.pro secondary industry

T&E and Corporate Card Administration Support (BPAAAJAL)

Keywords

• Cloud accounting software
• Enterprise resource planning
• Payroll and HR software
• Financial administration software
• Compliance and e-invoicing

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations

Revenue model

1. SaaS Subscriptions: Visma generates the majority of its revenue through SaaS subscription fees from its portfolio of business software companies serving SMEs, accounting firms, and enterprises across Europe and Latin America. The company reported €2.8bn in revenue and nearly 12% organic growth. Revenue is generated across 150+ companies serving 2.5M customers.
2. Software Licenses and On-Premise Products: Some Visma products are sold as on-premise or hybrid solutions (e.g., Visma Business, Visma Global, Visma Contracting, AccountView, Visma Lön 300/600), which may involve one-time license or perpetual license fees alongside maintenance revenue.
3. Professional Services and Implementation: Visma companies provide professional services including implementation, training, and consulting to support product deployment, particularly for enterprise ERP and HRM solutions.

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Visma is a European software group that owns and shapes 150+ business software companies delivering cloud-based solutions for accounting, ERP, payroll, human resources, expense management, e-invoicing, and compliance reporting. Its products are sold to small and medium-sized businesses, accounting firms, large enterprises, and the public sector primarily across Europe and selected Latin American markets such as Brazil, Chile and Colombia.

Product overview

Visma is a European software group comprising approximately 150+ companies that own and shape business software into market leaders. The company serves 2.5 million customers across Europe and Latin America with total revenue of 3,168 million EUR (LTM FY 2025). Visma operates through a platform-plus-modules architecture where core ERP/accounting platforms (Visma.net ERP, Business NXT, AccountView, e-conomic with ~270,000 Danish customers, Netvisor as Finland's leading SaaS accounting, Tripletex) serve as foundational systems, enhanced by specialized add-on modules for payroll (Nmbrs, YouServe, Agda PS, Visma.net Payroll), HRM (Visma.net HRM, Peple), expense management (Mobilexpense, Acubiz), e-invoicing (Maventa/AutoInvoice, InExchange Hubix, Quaderno), document scanning with AI (SmartScan/DocScan), electronic signatures (Visma Sign, Penneo Sign, ValidSign), and AI-powered tools (GAiA Assistant, Spiris AI Assistant). The portfolio extends into vertical solutions for education (Vklass, Wilma, InSchool), healthcare (Flyt Helse electronic medical records, Flyt Barnevern child welfare), property management (Tampuuri), and professional services (Visionplanner analytics, Radar CRM). Recent acquisitions expand geographic presence: ContaAzul and MaisMei (Brazil, 2025), WeFact (Netherlands, 2025), Rindegastos and Lara AI (Latin America, 2025), Evoliz, Chaintrust, MyCompanyFiles, Teledec, Inqom (France), November First (Denmark), Moj eRačun (Croatia), Mobilexpense (Belgium). The company uses Visma Connect for identity management and Single Sign-On, with public APIs exposed for Visma.net, Visma Business, Visma Global, and AccountView.Net platforms.

Differentiator

Problem solved

Functional benefit

Brands

• Visma Software International AS: The corporate entity operating visma.com and responsible for group-level operations within the Visma Group
• Visma Software Nordic
• Visma Software International
• Visma | Lease a Bike
• Visma Trust Centre
• Visma Community

Products and services

• Visma.net ERP Cloud-based enterprise resource planning suite covering finance, accounting, purchasing, sales, inventory and reporting for SMB and mid-market customers.
• Visma Business NXT Cloud-based ERP and accounting platform targeted at Norwegian SMBs, providing financials, sales, purchasing, logistics and reporting in one suite.
• AccountView
• e-conomic Online accounting software for SMBs and accountants, primarily in Denmark, with invoicing, expense management, bank reconciliation and reporting.
• Tripletex Web-based accounting, payroll, logistics, project and time-tracking system used by Norwegian SMBs and accounting firms.
• Netvisor Cloud business management, accounting, payroll and reporting suite for Finnish SMBs and accounting partners.
• Nmbrs Cloud payroll and HR software for Dutch employers, often delivered through accountants and payroll bureaus.
• Visma Severa Cloud-based PSA tool for project-based businesses covering project planning, time tracking, resourcing, invoicing and reporting.
• Visma Project Time tracking and project management software, part of the Visma Project & Time product family.
• Visma Talent Recruitment and HR software for SMBs, including applicant tracking, onboarding and basic HRM functionality.
• Visma Compact Cloud business system for small businesses offering accounting, invoicing and basic ERP capabilities.
• eAccount Cloud bookkeeping and invoicing software aimed at SMBs and freelancers in multiple European markets.
• Visma Dinero Cloud accounting software for Danish sole traders and small businesses, covering invoicing, expenses and tax reporting.
• Visma.net AutoInvoice E-invoicing network and service for sending, receiving and archiving electronic invoices, integrated with Visma accounting and ERP products.
• Visma EasyCruit Cloud applicant tracking and recruitment software for Nordic employers, supporting job posting, candidate management and onboarding.
• Visma Aditro HR, payroll and workforce management software for larger Nordic employers, including time, attendance and scheduling.
• Visma Agenda Cloud and on-premise accounting and practice management software for Belgian liberal professions, accountants and SMBs.
• ContaAzul Cloud accounting, invoicing and financial management platform for Brazilian small and medium-sized businesses.
• MaisMei Cloud accounting and tax filing product aimed at Brazilian MEI (micro-entrepreneur individual) customers.
• Mobilexpense Cloud expense management solution covering receipt capture, approval workflows, corporate card integration and reimbursement for European enterprises.
• Acubiz Cloud expense management software for Danish and European customers, with receipt scanning, approval and integration to ERP.
• Rindegastos Cloud expense management platform for Chilean and Latin American businesses.
• Silverfin Cloud accounting workflow platform for accounting firms, providing client data, automation, benchmarking and collaboration tools across multiple European markets.
• Inqom Cloud accounting automation software for French accounting firms and SMBs, designed to streamline bookkeeping and reporting.
• Chaintrust Cloud accounting and tax compliance software for Belgian SMBs and accounting partners.
• Evoliz
• InvoiceXpress Cloud invoicing platform for Portuguese and Iberian SMBs and freelancers.
• WeFact Cloud billing and invoicing software for Dutch SMBs and freelancers.
• MyCompanyFiles Online platform for Dutch businesses and advisors to prepare and file corporate tax returns and related compliance.
• Procountor Cloud financial management, e-invoicing and ERP platform for Finnish SMBs, accountants and their clients.
• Nomentia Cloud treasury and cash management solution for European corporates, covering payments, bank connectivity, cash forecasting and in-house banking.
• Bouw7 Cloud ERP for Dutch small construction and installation firms, covering project planning, timesheets, materials and invoicing.
• EazyProject Cloud PSA solution for Danish project-based businesses, with time tracking, resource planning, project execution and invoicing.
• Specter
• SmartDok
• Capcito
• Plandisc
• Link My Books

Quantifiable outcome

• Up to 70% reduction in human effort for certain tasks through AI transformation
• +5 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability9 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core and minor.

• In ExtensocoreStrategic or Co-development Partner · 16 March 2026Visma acquired a minority stake in fulll, a French accounting and payroll SaaS platform founded by In Extenso (one of France's largest chartered accountancy firms), through a strategic partnership. The deal accelerates fulll's platform development and strengthens all three players' competitive positions in France's accounting software market ahead of mandatory e-invoicing implementation. Subject to competition authority review. The partnership targets France's approximately 19,000 accounting firms serving 3.8 million SMEs.
• London Stock Exchange (UK)minorStrategic or Co-development Partner · 26 June 2025Visma provisionally selected London as the preferred venue for its planned IPO, contingent on UK government and LSE reforms to address Brexit-related complications. The choice was driven by UK listing reforms, deeper capital markets, and a UK-centric investor base. The planned €20bn listing was later postponed due to market uncertainty.
• Brazil's Ministry of EntrepreneurshipminorOthersThe Brazilian government announced plans to expand assistance for 16 million microentrepreneurs under the MEI regime, including raising income eligibility ceilings. Visma's simultaneous acquisition of MaisMei (Brazil's largest private microentrepreneur platform) underscores private-sector alignment with government objectives in the MEI segment.

Scale indicators11 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• Sage Group: Sage is the closest direct peer to Visma — both UK/European-listed (Sage) and private (Visma) heritage providers of accounting, payroll, and ERP software targeting SMBs and accounting firms. Sage Intacct and Sage for Accountants compete head-to-head with Visma.net ERP, Silverfin, and accounting-firm products across Europe.
• Xero: Xero is a direct competitor offering cloud accounting software to SMBs and accountants globally. It is explicitly cited in Visma's competitive context alongside QuickBooks and Sage, competing for the same European SME accounting customers Visma serves.
• Fortnox: Fortnox is a Swedish cloud accounting, payroll, and ERP platform for SMBs and accountants. Headquartered in the same Nordic market as Visma's heritage, it directly competes with Tripletex, e-conomic, and Bokio for Swedish and Nordic SMB accounting customers.
• Intuit (QuickBooks): Intuit QuickBooks is a globally dominant SMB cloud accounting and payroll platform. Explicitly listed as a Visma competitor; overlaps directly with Visma's e-conomic, Tripletex, Netvisor, and Conta Azul SMB accounting offerings.

Broad incumbents

• ADP: ADP is a global payroll and HR services incumbent with products like ADP Workforce Now and RUN that directly compete with Visma's payroll offerings (Nmbrs, Visma.net Payroll, YouServe) across European and Latin American markets.
• Oracle (NetSuite): Oracle NetSuite is a leading cloud ERP platform for mid-market companies competing with Visma's enterprise ERP products. As a broader incumbent serving multiple industries globally, it overlaps with Visma's larger-account ERP, HR, and financial management capabilities.
• SAP (Business One / S/4HANA Cloud): SAP competes in the broader ERP space, with Business One targeting mid-market firms (overlapping with Visma.net ERP and Business NXT) and S/4HANA Cloud addressing larger enterprises. A global incumbent whose product portfolio overlaps Visma's enterprise ERP offerings.
• Workday: Workday is a broad cloud incumbent in financial management and HR (HCM) for mid-market and enterprise. It directly overlaps with Visma's HRM and payroll portfolio (Nmbrs, YouServe, Visma.net HRM) for large enterprise buyers.
• Microsoft (Dynamics 365 Business Central): Microsoft's cloud ERP (Business Central and Dynamics 365 Finance) targets the same SMB and mid-market ERP buyers as Visma.net ERP and Business NXT. As a hyperscaler incumbent, it bundles ERP with the broader Microsoft 365 / Azure stack, competing for enterprise wallet share.

Emerging players

• Acumatica: Acumatica is an emerging cloud ERP vendor targeting SMBs and mid-market companies with flexible licensing. It overlaps with Visma's ERP positioning for non-enterprise buyers and represents a younger, tech-forward challenger in the same competitive category.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks4 records

Key highlights5 records

Customer concentration

• Xx.com/visma
• YouTubeyoutube.com/user/VismaOfficial
• Facebookfacebook.com/vismagroup
• LinkedInlinkedin.com/company/visma

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries26 records

Funding overview

Funding rounds6 records

Investors15 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A177 records

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Visma