We have advised Chaintrust, a SaaS services provider, and its shareholders on the sale of a majority stake to Visma. Chaintrust provides a new generation SaaS add-on automating bookkeeping for accounting firms and SMBs.
Founded in 2018 by Mikael Gandon and Pierre Hersant, Chaintrust provides a new generation SaaS add-on automating bookkeeping for accounting firms and SMBs, based on AI and OCR technologies. The solution integrates with all main accounting software (Inqom, Sage, Cegid, MyUnisoft, ACD, Quadratus, Isacompta, Teogest, Loop, EBP, Netexcom, Fulll, Tiime, Révor) and aims to free accountants from daily and repetitive tasks to allow them to focus on value-added services.
Chaintrust has a proven expertise in the most complex end-markets such as pharmacies with one-third of pharmacies’ bookkeeping being handled by the solution in France, construction, restaurants, tobacconists, and more. Majority-owned by its founders and Eurazeo, Chaintrust achieved profitability in 2023, with revenue growth of approximately over 80% compared to 2022.
Visma is one of the European leaders in SaaS business management and administration software. Valued at €19bn in December 2023, Visma has 15,000 employees, more than 1.6 million customers in the private and public sectors in the Nordics, Benelux, Central and Eastern Europe, and Latin America, and achieved a revenue of €2.4bn in 2023.
This acquisition is part of Visma's overall strategy to create a complete and integrated ecosystem that meets the specific needs of accounting firms in France. Following the acquisition of Inqom in 2022, in which Clearwater also participated, this new step with Chaintrust further expands Visma's range of software, adding significant value to its overall offering.
This transaction led by Inqom creates synergies among the different entities of the Visma group, with the objective to provide an improved customer experience perfectly tailored to the specific challenges of accountants, offering them a complete range of services with the most advanced technologies.
