Hg has a long history of partnering with businesses in tax and accounting software.
Today we announced a significant investment from Hg, a leading European software investor. While we can’t disclose the exact terms of the transaction, it's exciting news for us and we think it’s a clear recognition from such a well respected specialist investor of the potential of our technology and team.
Joris Van Gool, Partner at Hg explained their excitement about partnering with us, he said: “After seeing Silverfin in action within our portfolio for a number of years, we were impressed with the technology and the potential it offers the accounting sector. We’re delighted to be able to join the team at this time and support Silverfin as the business continues to scale internationally.”
We couldn’t agree more. Hg is a great new addition to our existing team and investors at this exciting, if challenging, time for accountants.
Technology is driving considerable innovation and change in the accounting profession. The past few weeks in particular have shown why accounting must accelerate its digital transformation. There’s been a rapid move to remote working and a realisation that cloud technology is a key factor in any effective business continuity plan so accountants can continue supporting their clients whatever the operating circumstances. Our technology helps with all of this and much more.
Even before today’s challenges, our customers told us Silverfin has made their firms more efficient and more successful. We’ve given accountants easy access to the data they need to complete their work and advise clients, enabled the automation of core compliance and reporting, and provided the tools, and time, they need to support the ongoing digital transformation of their firms and their service to clients.
We are proud of how Silverfin has helped our customers respond to change and transform their client services, and business, but there is more left to do. We are busy growing our team, and presence internationally, and are delighted to have the support of Hg to help us.
Hg has a long history of partnering with businesses in the tax and accounting software space. In fact Silverfin is Hg’s 14th investment in the last 15 years, a total of around €1.8BN of invested capital in this sector alone. Their considerable international experience in the accountancy sector, and understanding of technology, makes them the perfect new partner for us as we begin the next phase in our international growth.
If you’d like to know more about the deal the press release is here and if you are interested in joining our team check out our careers page we’d love to hear from you.