Visma Retail AS
Visma is a Norwegian software holding company operating approximately 150 local business software brands across 25+ European and Latin American countries, delivering AI-powered accounting, payroll, HR, ERP, and public sector SaaS to 2.5 million SMB and government customers.
- Company typePrivate
- Founded1996
- HeadquartersTønsberg, Norway
- Headcount5,001–10,000
- GTM typeB2B
- OfferingSoftware
What Visma Retail AS does
Visma is a privately held Norwegian software holding company that owns and operates approximately 150 business software companies across 25+ countries in Europe and Latin America, serving 2.5 million customers as of Q1 2026. Its portfolio delivers mission-critical cloud and on-premise SaaS for accounting, payroll, HR, ERP, e-invoicing, workforce management, and public sector administration, organized around local brands such as Tripletex, e-conomic, Netvisor, Conta Azul, Silverfin, Holded, Nmbrs, Inexchange, and the Visma Flyt public sector suite. Revenue is overwhelmingly recurring: €2,976M of Annual Recurring Revenue against €3,168M of total LTM revenue in FY 2025, with adjusted EBITDA of €1,024M (34.0% Q1 2026 margin).
The operating model is a federation of approximately 180 business units, many still led by original founders, that retain local language, brand, and regulatory specialization while sharing group-level AI assets, security infrastructure, and capital. Technology is anchored in proprietary AI components — Smartscan document extraction (224M documents processed in 2025 at 30%+ higher accuracy than generic models), the Machine Learning Factory, the Optimization Factory, the GAiA Assistant, and FabricAI for accounting firms — deployed through 500+ live AI initiatives across the group. Visma is controlled by Hg Capital (70.5%) alongside GIC, ICG, CPP Investments, TPG, and management/employees, with a long-running M&A engine overseen by a dedicated Chief M&A Officer; the company exited consulting via its 2022 CIS divestiture and has accelerated into Latin America, most recently Brazil, Italy, and Croatia.
Visma Retail AS firmographics
Firmographics- Name
- Visma Retail AS
- 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 Norwegian software holding company operating approximately 150 local business software brands across 25+ European and Latin American countries, delivering AI-powered accounting, payroll, HR, ERP, and public sector SaaS to 2.5 million SMB and government customers.
- Ownership category
- akta.pro rank
Where Visma Retail AS is headquartered
LocationHeadquarters
- HQ city
- Tønsberg
- HQ country
- Norway
- HQ region
- Europe
Offices2 records
Markets served
Visma Retail AS business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- SaaS Subscriptions: Highly recurring subscription-based revenue model delivering long-term, compounding growth. Annual Recurring Revenue (ARR) of €2,976 million as of Q1 2026, representing 19.5% YoY growth with 13.3% organic growth.
- Enterprise Software Licenses: On-premise and hybrid ERP solutions including AccountView, Business NXT, and enterprise workforce management offerings.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Visma Retail AS product offering
Product offeringCore offering
Visma develops, owns, and operates a portfolio of 150+ cloud-based and on-premise business software companies serving 2.5 million SMBs, enterprises, accounting firms, and public-sector organizations across Europe and Latin America. Core offerings include accounting/ERP platforms (e-conomic, Tripletex, Netvisor, Business NXT, AccountView, Holded, Silverfin), HR and payroll solutions (Nmbrs, Visma.net Payroll, YouServe, Visma Flyt workforce management), e-invoicing networks (AutoInvoice/Maventa, Inexchange), public-sector software (Flyt Barnevern, Flyt Helse, Flyt Skole), and proprietary AI capabilities (Smartscan document extraction, Machine Learning Factory, Optimization Factory, GAiA Assistant).
Product overview
Visma is a holding company that owns and operates 150+ business software companies across Europe and Latin America, serving 2.5 million customers. The portfolio is organized around core business software categories including: (1) Accounting/ERP platforms such as e-conomic, Tripletex, Netvisor, Dinero, Silverfin, Holded, Yuki, InFakt, SmartBill, Keez, Jumis, and Payday; (2) HR & Payroll solutions including Nmbrs, Visma.net Payroll, YouServe, Visma Flyt (public sector workforce management), Medvind WFM, and Enterprise Ressursstyring; (3) E-invoicing and document exchange via AutoInvoice/Maventa and Inexchange; (4) AI-powered capabilities including Smartscan (document extraction), FabricAI (invoice automation), Machine Learning Factory, Optimization Factory, and GAiA Assistant; (5) Public sector software suite (Flyt Barnevern, Flyt Helse, Flyt Skole); and (6) Specialized solutions for expense management (Acubiz), e-signature (Penneo), collections (Amili), and security/compliance (Inyett). The architecture includes both cloud/SaaS products (Visma.net ERP, Business NXT) and on-premise solutions (AccountView) with APIs enabling third-party integrations.
Differentiator
Problem solved
Functional benefit
Brands
- Tripletex: Accounting software brand serving Norwegian market with 160,000+ customers
- e-conomic
- Netvisor
- PowerOffice
- Conta Azul
- Silverfin
- Teamleader
- Inexchange
- SmartScan
- AutoInvoice
Products and services
- Business NXT
- Visma.net ERP
- AccountView
- e-conomic
- Tripletex
- Netvisor
- PowerOffice
- Conta Azul
- Dinero
- Silverfin
- Holded
- InFakt
- SmartBill
- Fiscozen
- Nmbrs
- Visma.net Payroll (Peple Payroll Core)
- Teamleader
- Inqom
- Visionplanner
- Payday
- Keez
- Jumis
- Spiris
- AutoInvoice / Maventa
- Inexchange
- FabricAI
- Inyett
- Visma Flyt (Public Sector Suite)
- Enterprise Ressursstyring (VER)
- Medvind WFM
- YouServe
- Acubiz
- Penneo Sign
- Draftit
- Amili
- Machine Learning Factory
- Optimization Factory
- GAiA Assistant
Quantifiable outcome
- 500+ AI initiatives deployed in production across the group
- +4 more outcomes
Companies that use Visma Retail AS
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
Visma Retail AS technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration9 records
AI capability14 records
Feature6 records
Visma Retail AS partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and flagship.
- In ExtensocoreVisma and In Extenso announced strategic partnership to strengthen fulll's software offering in France. Establishes robust foundation for continued growth in French market.
- Team Jumbo-Visma / Team Visma | Lease a BikeflagshipTitle sponsorship of professional cycling team (formerly Team Jumbo-Visma). Visma provides capital, software, and business expertise. Partnership enhances global brand awareness, supports international expansion, and boosts internal employee engagement. In 2024, Visma became first title sponsor. Team uses Visma's nutrition prediction ML model and Control Room for race tactics.
Scale indicators11 records
Recent moves11 records
Expansion highlights6 records
Visma Retail AS competitors and assessment
Company assessmentDirect peers
- Xero: Xero is a New Zealand-based cloud accounting platform serving SMBs and their accountants globally, with strong penetration in the UK, Australia, and increasingly in Europe. Direct overlap with Visma's e-conomic, Tripletex, Netvisor, and other SMB accounting brands on cloud accounting, subscription pricing, and accountant channel.
- Cegid: Cegid is a French provider of cloud business management, accounting, payroll, and HR software for SMBs, accountants, and retailers. Directly comparable to Visma's SMB accounting/HR portfolio in France and broader Europe, with a similar localization-driven, vertical SaaS model.
- Exact Software: Exact is a Netherlands-based provider of cloud accounting and ERP software for SMBs across Benelux and Europe. Direct overlap with Visma's Dutch portfolio (Yuki, Nmbrs) and similar SMB/accountant go-to-market motion. Now owned by KKR, Visma's historical investor.
- Fortnox: Fortnox is a Swedish cloud-based business platform providing accounting, invoicing, payroll, and e-invoicing for SMBs and accountants. It competes head-to-head with Visma's Swedish (Spiris) and Norwegian (Tripletex, PowerOffice) brands and shares the Nordic SMB SaaS playbook.
- Unit4: Unit4 is a Netherlands-based provider of cloud ERP and finance & HR software for mid-market and public sector organizations in Europe. Comparable to Visma's mid-market and public-sector segments (Flyt suite, Business NXT), with similar European geographic focus and SaaS delivery model.
- Sage Group: Sage is a UK-headquartered global leader in accounting, payroll, HR, and ERP software for SMBs and accountants. It is the closest direct competitor to Visma in the European SMB accounting software market, with a comparable subscription model, accountant channel strategy, and product breadth across accounting and payroll.
Broad incumbents
- Intuit: Intuit is a US-based global financial software incumbent (QuickBooks, TurboTax, Mailchimp) serving SMBs and consumers. It competes with Visma in cloud SMB accounting globally and serves as the scale benchmark for AI-augmented accounting software (Intuit Assist), though it lacks Visma's local regulatory depth across Europe.
- Microsoft (Dynamics 365 Business Central): Microsoft Dynamics 365 Business Central is a global cloud ERP platform for SMBs that competes with Visma's Business NXT and Visma.net ERP. As a broad incumbent, Microsoft bundles Business Central with Office 365 and Azure, representing both a competitor and a partner ecosystem for Visma's accountant and SMB software.
- Wolters Kluwer: Wolters Kluwer is a Dutch-listed professional information and software company whose Tax & Accounting division (CCH, Twinfield) directly competes with Visma's accountant-focused products in the Nordics, Benelux, and globally. Comparable in regulated SMB/accountant software positioning but operates across broader professional verticals (legal, healthcare).
Regional players
- DATEV: DATEV is a German cooperative providing tax, accounting, payroll, and ERP software primarily to tax advisors, auditors, and SMBs in Germany. Strong regional incumbent comparable to Visma's accountant channel strategy in Germany, though it does not directly compete outside DACH.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat7 records
Key risks5 records
Key highlights7 records
Customer concentration
Visma Retail AS social profiles
Digital presenceVisma Retail AS compliance and trust
Trust signalCompliance10 records
Visma Retail AS financial estimates
Financial estimateRevenue estimate
Valuation estimate
Visma Retail AS leadership team
Management profileNumber of profiles
Profiles10 records
Visma Retail AS subsidiaries and ownership
Company hierarchySubsidiaries24 records
Visma Retail AS funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Visma Retail AS M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Visma Retail AS
What does Visma Retail AS do?
Visma develops, owns, and operates a portfolio of 150+ cloud-based and on-premise business software companies serving 2.5 million SMBs, enterprises, accounting firms, and public-sector organizations across Europe and Latin America. Core offerings include accounting/ERP platforms (e-conomic, Tripletex, Netvisor, Business NXT, AccountView, Holded, Silverfin), HR and payroll solutions (Nmbrs, Visma.net Payroll, YouServe, Visma Flyt workforce management), e-invoicing networks (AutoInvoice/Maventa, Inexchange), public-sector software (Flyt Barnevern, Flyt Helse, Flyt Skole), and proprietary AI capabilities (Smartscan document extraction, Machine Learning Factory, Optimization Factory, GAiA Assistant).
Is Visma Retail AS a public or private company?
Visma Retail AS is a private company. It is classified as private equity controlled and is currently operating.
When was Visma Retail AS founded?
Visma Retail AS was founded in 1996. It employs 5,001 to 10,000 people.
Where is Visma Retail AS based?
Visma Retail AS is headquartered in Tønsberg, Norway, in the Europe region.
How does Visma Retail AS make money?
Two revenue lines are on record. SaaS Subscriptions are the primary driver. The others are enterprise Software Licenses.
Who are Visma Retail AS's main competitors?
Direct peers on record are Xero, Cegid, Exact Software, Fortnox, Unit4 and Sage Group. Broad incumbents are Intuit, Microsoft (Dynamics 365 Business Central) and Wolters Kluwer. DATEV is listed as a regional player.
Does Visma Retail AS have an API?
Yes. Visma offers APIs across its product portfolio. AccountView.Net exposes user-selected parts of the ERP for use by apps, possibly developed by third-parties. The NxtAPI provides external API access for Visma Løn and Visma HR products. Various products provide integration APIs for ERP systems, payroll, HRM, and financial data. The HCA (YouServe) APIs provide Identity & Access Management, Medical Leave Management, Payroll Domain, and Workforce Management API access for B2B integrations.