Visma

What Visma does

Visma is a Norway-based holding company founded in 1996 that acquires, owns, and scales mission-critical business software companies across Europe and Latin America. Its portfolio of 150+ subsidiaries delivers ERP, accounting, payroll, HR, tax compliance, and workforce management software on cloud-native SaaS architectures to approximately 2.5 million customers, spanning micro-entrepreneurs, SMEs, accounting firms, and enterprise customers (including all Big 4 firms via Silverfin). The company's operating model preserves the independent identity, local language, and local legal positioning of each acquired entity while providing centralized capital, technology, talent, and expertise to drive long-term growth.

The business model is overwhelmingly subscription-based recurring SaaS revenue, with individual portfolio companies setting pricing and operating direct sales motions to enterprise and mid-market customers. Visma reported total revenue of €3,168 million LTM FY 2025 and is planning a London Stock Exchange IPO at a potential €19 billion valuation. Recent strategic activity centers on aggressive M&A, including the 2025 acquisitions of Conta Azul and WeFact, the February 2026 acquisition of Brazil's MaisMei (3.7 million MEI customers), a March 2026 minority stake in France-based Fulll, and parallel May 2026 deals for Pag Útil and Dootax. Geographic coverage spans Benelux, Scandinavia, the UK, France, Spain, and Brazil, with explicit expansion plans into the UK, Netherlands, Luxembourg, and Denmark via Silverfin and continued buildout of a multi-product Brazilian platform. AI is publicly positioned as a strategic commitment, though specific proprietary capabilities and benchmarks are not disclosed in available materials.

Name

Visma

Legal name

Visma

Website

https://visma.nl

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Visma is a Norway-based holding company founded in 1996 that owns and scales 150+ mission-critical business software companies serving 2.5 million customers across Europe and Latin America with ERP, accounting, payroll, HR, and compliance SaaS.

Ownership category

akta.pro rank

Product category

Business Software

NAICS

Software Publishers (513210), Corporate, Subsidiary, and Regional Managing Offices (551114)

SIC

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

akta.pro primary industry

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

akta.pro secondary industry

Professional Services Automation (PSA) & Services ERP (HDAEAEAF)

Keywords

• Business software
• Cloud accounting software
• Payroll and HR software
• ERP software solutions
• SME compliance software

Headquarters

HQ city

Amsterdam

HQ country

Netherlands

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Business Software Subscriptions: Visma generates revenue through its portfolio of 150+ business software companies offering ERP, accounting, payroll, HR, and other business software solutions on a subscription basis to 2.5M customers.
2. SaaS Platform Services: Cloud-native accounting, payroll, and compliance SaaS platforms serving SMEs and micro-entrepreneurs across Europe and Latin America.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

Visma owns and operates 150+ business software companies that deliver mission-critical cloud-based software including ERP, accounting, payroll, HR, scheduling, e-invoicing, and compliance solutions to 2.5 million customers across Europe and Latin America. The company acquires and scales independent software companies, providing capital, technology, talent, and industry expertise while each portfolio company operates close to its customers in their local language and under local laws.

Product overview

Visma is a business software company that owns and operates 150+ software companies serving 2.5 million customers. The portfolio includes multiple specialized products: Beeple (scheduling and communication for flexible workers), Silverfin (cloud-first accountancy SaaS), WeFact (e-invoicing and preparatory accounting), Fulll (cloud-native accounting and payroll SaaS in France), MaisMei (compliance app for Individual Micro Entrepreneurs in Brazil), and Conta Azul (cloud ERP). These products operate under the Visma umbrella while maintaining their independent market presence, with Visma providing capital, technology, talent and expertise for long-term growth.

Differentiator

Problem solved

Functional benefit

Brands

• Impulse Data: Platform that aggregates anonymized data from SMEs to support advisory services, developed in partnership with Fulll.

Products and services

• Beeple Scheduling and communication solutions for companies employing flexible workers, with a user base of 30,000 across 26 countries, primarily in Benelux and other European countries.
• Silverfin Cloud-first accountancy SaaS platform serving over 1,000 accountancy practices including all of the Big 4, with expansion planned into the UK, Netherlands, Luxembourg, and Denmark.
• WeFact E-invoicing and preparatory accounting services provider serving over 45,000 clients.
• MaisMei Brazilian compliance-first mobile app serving Individual Micro Entrepreneurs (MEIs), the largest private platform in Brazil's MEI segment with 3.7 million customers.
• Conta Azul Cloud ERP platform serving Brazilian businesses, combined with MaisMei to create a start-to-scale product pathway.
• Fulll France-based cloud-native accounting and payroll SaaS platform founded by In Extenso, targeting approximately 19,000 French accounting firms serving 3.8 million SMEs, with the Impulse Data platform for advisory services.

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• In ExtensocoreStrategic or Co-development Partner · 15 March 2026Visma acquired a minority stake in Fulll, a France-based cloud-native accounting and payroll SaaS platform founded by In Extenso, one of France's largest chartered accountancy firms. The partnership targets France's fragmented accounting market of approximately 19,000 firms serving 3.8 million SMEs, with timing aligned to France's forthcoming mandatory e-invoicing reform.
• FulllcoreStrategic or Co-development Partner · 15 March 2026Visma acquired a minority stake in Fulll to support further development of its cloud-native SaaS platform. The companies plan to expand the 'Impulse Data' platform, which aggregates anonymized data from SMEs to support advisory services. This represents strategic expansion of Visma's accounting, tax, and payroll offerings in the French market.

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Constellation Software: Constellation Software is the closest comparable to Visma, operating a perpetual buy-and-build strategy acquiring vertical-market software companies globally. Both maintain operational independence for acquired entities while providing capital and shared expertise, with comparable scale (~150-300+ portfolio companies) and similar focus on mission-critical, local-market software.
• Roper Technologies: Roper Technologies operates a similar diversified software holding model, acquiring specialized vertical software businesses and allowing them to retain market focus. Comparable in scale, recurring revenue concentration, and long-term compounding approach to capital allocation across software assets.
• Sage Group: Sage is a direct competitor in cloud accounting and payroll SaaS for SMEs across Europe. Both target the same fragmented accounting firm and SME customer base with cloud-native subscription software, making them head-to-head competitors in markets such as the UK, France, and Germany.
• Xero: Xero is a cloud-native accounting SaaS platform for SMEs and their accountants, directly competing with several Visma portfolio companies across European and global markets. Both target the same accountant/SME ecosystem with subscription-based cloud software.

Broad incumbents

• Tyler Technologies: Tyler Technologies is a buy-and-build acquirer of vertical software primarily for the public sector. It shares Visma's disciplined acquisition playbook and mission-critical software focus, though Tyler serves government clients rather than private SMEs.
• ADP: ADP is a global incumbent in payroll and HR software, directly overlapping with Visma's payroll and HR portfolio across Europe and Latin America. ADP's scale and brand in payroll represents the competitive ceiling Visma's portfolio companies face in the mid-market and enterprise tiers.
• Workday: Workday is a major cloud HCM and financial management platform serving larger enterprises. While targeting a different size tier than Visma's SME focus, Workday represents an enterprise-grade incumbent whose movement down-market could pressure Visma's upper-tier portfolio companies.
• Intuit: Intuit is a much larger incumbent in SME financial software (QuickBooks, payroll, tax) with comparable product surface area. While not European-focused, Intuit represents the global scale benchmark Visma competes against in the SME compliance/accounting category.
• Wolters Kluwer: Wolters Kluwer is a Dutch-headquartered professional information and software provider with strong overlap in compliance, accounting, and tax software for European SMEs and professionals. Similar European base, recurring revenue model, and mission-critical regulatory positioning.
• Microsoft Dynamics: Microsoft Dynamics 365 is a broad ERP and CRM suite competing across multiple Visma target segments. As an embedded offering within the Microsoft ecosystem, it represents a powerful platform incumbent that Visma's portfolio companies must differentiate against.

Market position

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/visma-netherlands

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

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

M&A4 records

Investments

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

Frequently asked questions about Visma