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News

Sofacto becomes part of the PSG-backed billwerk group

Thursday 2 February 2023 08:53 CET | News

Germany-based provider of software solutions for subscription management and recurring billing billwerk has announced the acquisition of Sofacto. 

Sofacto is a France-based provider of applications for subscription management and Recurring Billing powered by Salesforce.com technology. PSG, a private equity firm focused on partnering with mid-market software and technology-based services companies, will continue to hold a majority stake in the billwerk group.


The billwerk group also owns Reepay, a leading Denmark-based cloud-based SaaS platform that companies can use to manage their payment processes and subscriptions. Available on B2B application marketplace AppExchange, Sofacto's Subscription Management and Recurring Billing application is built on and fully integrated with the Salesforce Lightning platform, enabling billing, invoicing, subscriptions, and billing for customers.

Aim of the merger

The addition of Sofacto to the billwerk group aims to broaden the group's product offering by integrating the Salesforce ecosystem into the group's existing suite of software solutions. Furthermore, Sofacto's market position in France will complement billwerk's and Reepay's presence in the DACH region and Scandinavia respectively, and support the platform's aims to become a pan-European market leader for recurring business models.

The next steps

Following the transaction, the CEO of Sofacto will continue to lead the company and plans to work closely with the CEO of the billwerk group to integrate Sofacto into the billwerk platform. According to a billwerk representative, not only will a Salesforce integration be added to the existing platform, but the company also believes that the acquisition will give the group a strong position in the French market. The financial terms of the transaction are not disclosed.

Germany-based provider of software solutions for subscription management and recurring billing billwerk has announced the acquisition of Sofacto.

 

Additionally, a PSG representative stated that they believe that the European market for subscription management has enormous potential for growth as companies' business models continue to digitalise. The integration of Sofacto into the billwerk platform is the next step on the way to becoming a scalable European player offering leading solutions to support companies in expanding and optimising their subscription and payment management activities.

PSG investment in billwerk

PSG announced a majority growth investment in Frankfurt-based billwerk in May 2021. In November 2021, billwerk announced that it has merged with Reepay to create a pan-European software provider for subscription management, billing, and payment solutions for subscription companies and webshops of all sizes.

 


Source: Link


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Keywords: merger, acquisition, subscription payments, subscription commerce, expansion
Categories: Banking & Fintech
Companies: billwerk, Sofacto
Countries: Germany
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Banking & Fintech

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