Advising the leading US crossover investor on the €50 million investment in sevDesk, a cloud accounting software provider.
Flow Partners acted as a financial advisor to a leading New York-based private and public companies investor in relation to the €50 million growth investment into sevDesk, a leading German cloud-native accounting platform for self-employed, freelancers, and small businesses.
Offenburg, Germany
New York, United StatesOverview
We provided buy-side advice to the investor group, resulting in a successful €50 million series B for sevDesk, a German SaaS-based accounting platform for self-employed, freelancers, and small businesses.
Transaction Background
Since being founded in 2014, sevDesk has rapidly become a leading provider of cloud-based accounting solutions for the German and Austrian markets. While many international players such as Xero and QuickBooks have become household names in other regions, these dominant players have placed little attention to the nuances required for every global market.
Results
In May 2021, it was announced that sevDesk successfully raised a €50m Series B from investors including LEA Partners, Wecken & Cie., Global Founders Capital, Arena Holdings and entrepreneur Carsten Thoma.
The new funds will help sevDesk scale their user-friendly, cloud native accounting platform across Germany and Austria with over 200 new jobs planned by the end of 2022.
About sevDesk
sevDesk is a leading cloud-based smart accounting software solution tailored to freelancers and micro-businesses (fewer than 10 employees) operating in Germany and Austria. The company's accounting software uses AI to scan and automatically manage all documents through an application, whether for single or double bookkeeping, generates revenue surplus without a tax consultant, manages all the cashbook, reporting, customers and also calculates the profit and loss automatically, enabling self-employed and small businesses with realtime insights and facilitate their entire accounting process online.
About Flow Partners
Flow Partners provides founder-friendly corporate finance and fractional CFO advice to technology entrepreneurs globally. Flow was founded in 2020 and operates globally with presence in London, Berlin, Warsaw and Miami.
For more information, please visit flowpartners.io.
Enquires
For all enquiries please contact the team at hi@flowpartners.io
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