Symfonia, a Warsaw, Poland-based provider of business ERP and payroll software solutions for SMEs, received a majority investment from Accel-KKR.
The amount of the deal was not disclosed. The transaction is subject to customary regulatory and antitrust approvals.
The company intends to use the funds to accelerate growth across the B2B software sector.
Led by CEO Piotr Ciski, Symfonia specializes in business ERP and payroll software solutions for SMEs in Poland. It offers business-critical FMS/ERP/Payroll/HCM software to a diversified customer base of over 50,000 SMEs. It has recently transitioned from a licensing model to subscription, and currently is at the forefront of the shift to the cloud.
MidEuropa acquired Symfonia in March 2021 in a carve-out from Sage Group plc, and supported management in delivering a separation of the company from its corporate owner. In the past two years, Symfonia has leveraged MidEuropa’s network and sector expertise to undertake an operational and digital transformation, which has allowed it to enhance its cloud and SaaS (Software as a Service) capabilities and to upgrade its organic growth profile.
Since MidEuropa’s acquisiton, Symfonia has added to strong organic growth with three high quality acquisitions, namely:
· Reset2, one of the leading payroll software providers in Poland
· Cloud Planet, native cloud-based solution provider for micro & small customer segment in Poland
· HRTec, provider of cloud HR management software
FinSMEs
30/06/2023
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