The acquisition of a majority stake in Declarando by Visma, a leading European technology company, was completed on 20 April 2022. Baker Tilly Corporate Finance advised the Visma team on this transaction.
Declarando is the fastest growing accounting and tax software company for the Spanish self-employed. The deal reinforces Visma's growing presence in Spain. The Castellón-based company will continue to operate as an independent entity, with founders Marta Zaragozá, Juanjo Traver and Vicente Solsona remaining on board. Declarando has previously raised €2.7 million from Sabadell Venture Capital, Bankinter, Encomenda VC and JME, who will remain partners in the company.
Seller: Declarando
Launched in 2016, Declarando helps its customers to save money and time, combining technology and a savvy team of tax lawyers. The platform was designed exclusively for freelancers and aims to simplify the invoicing, accountancy, bookkeeping, taxes and financial control of thousands of small business owners. They’ve helped over 100.000 freelancers save over 50M€.
"We believe Visma is the perfect fit at this stage of our journey. Declarando will gain the support and expertise of one of the top 5 European software companies that will facilitate our mission to make a big impact on the lives of the Spanish self-employed."
Marta Zaragozá, CEO of Declarando
Investor: Visma Group
Based in Oslo (Norway), Visma Group is a leading provider of core business software for a more efficient and resilient society. Through 14.000 employees in 200 companies in 20 countries, they have over 1,2 million customers across the Nordics, Benelux, Central and Eastern Europe, and Latin America. That unique structure allows to be close to the local markets while sharing world-class competence across the organization.
"We are very pleased to welcome Declarando to Visma," said Ari-Pekka Salovaara, Visma's Segment Manager for SMEs. "Their efforts to simplify financial control for the Spanish self-employed will fit perfectly with Visma's mission to be a trusted partner for European entrepreneurs. We will learn a lot from each other, and in the end it will be the customers who will benefit".
Baker Tilly Corporate Finance:
Baker Tilly has advised Grupo Visma in the negotiations with the management team of Declarando. Diego Gutiérrez, a partner specialising in the technology sector, led the team. Baker Tilly Corporate Finance has a team specialising in Mergers and Acquisitions and has consistently ranked in the Top 10 in the global M&A market.
"This transaction, which has been completed in just two months, is a great opportunity for the Visma Group to strengthen its offer for the self-employed in Spain and Europe.
DIEGO GUTIERREZ
Baker Tilly International's services in corporate finance include advising on cross-border transactions for clients doing business in multiple locations. locations. Baker Tilly's network extends across 145 territories, with 38,000 people working in more than 746 offices.
Baker Tilly International is an international business professional services network specialising in advisory, consulting, auditing, tax and legal, accounting, labour and management services for SMEs and multinational companies.
