October 2026
Largest B2B SaaS Public Companies in New Zealand
Benchmark revenue and EBITDA valuation multiples for public comps like
Vista Group, Gentrack Group, EROAD, Serko and PaySauce.
 | Vista Group International Ltd provides software and technology solutions across the global film industry sectors of distribution, exhibition, and the end consumer, moviegoers. The principal activity is the sale, support, and associated development of software for the film industry. The company operates in the vertical cinema/film market in the following reportable segments namely the Cinema segment and Film segment. The company has offices in New Zealand, with additional offices located in Sydney, Cape Town, London, Amsterdam, Beijing, Shanghai, Kuala Lumpur, Los Angeles, and Mexico City. | $2 | +1% | $368M | $382M | 4.1x | 84.6x | ||
| Gentrack Group Ltd is engaged in the development, integration, and support of enterprise billing and customer management software solutions for the utility (energy and water) and airport industries. The company operates in two business segments which are Utility Billing Software and Airport Management Software, of which the Utility Billing Software segment generates maximum revenue for the company. Geographically company generates from United Kingdom, also operates from Australia, New Zealand and rest of world. | $2 | -56% | $261M | $228M | 1.8x | 13.6x | ||
| EROAD Ltd is a New Zealand Based company which is a fully integrated technology, tolling and services provider. It designs and manufactures in-vehicle hardware operates secure payment and merchant gateways and offers web-based value-added services. The company provides electronic on-board units and software as a service to the transport industry. Its products are categorized in RUC Compliance, Health & Safety, and Fleet Management. It operates through four segments: Corporate & Development, North America, Australia, and New Zealand. | IoT+1 | $1 | -48% | $109M | $121M | 1.1x | (2.0x) | |
| Serko Ltd is engaged in the provisioning of computer software solutions for corporate travel. The company's products are Serko Online and Serko Expense which are cloud-based enterprise-grade solutions that help corporates manage their travel and expense programs. Geographically, it derives a majority of its revenue from Australia and also has a presence in New Zealand, the US, India, Singapore, and Others. The company generates revenue from Serko Online, Serko Zeno, Serko Mobile, and Serko Expense technology platforms. | $1 | -60% | $79M | $52M | 0.8x | 1521.4x | ||
| PaySauce Ltd is a New Zealand-based software company. It is a Software as a Solution (SaaS ) fintech platform providing solutions for people at work. The technology enables small employers to digitally onboard, pay, and manage employees from any device. The platform includes rosters, mobile timesheets, payroll calculations, banking integration, automated payments, PAYE filing, labour costing, automated general ledger entries, and digital employment contracts. It generates maximum revenue in the form of processing fees, which are the monthly or annual subscription customers pay for PaySauce payroll products. Geographically, the company generates a majority of its revenue from its business within New Zealand. | $0 | -24% | $18M | $5M | 1.5x | (9.5x) | ||
| Black Pearl Group Ltd is a data technology company that builds, acquires, and markets data-driven cloud services, consisting of a suite of productivity and demand generation applications for small and medium-sized businesses. The company had two reportable segments based on the company's product subscriptions available during the year: Pearl Diver and Newoldstamp. The company makes the majority of its revenue from subscriptions to Pearl Diver. | $0 | -81% | $13M | $11M | 1.4x | (1.2x) | ||
| TradeWindow is an Auckland digital trade company listed on the NZX since November 2021 under the ticker TWL. Its Cube platform and related products give exporters, importers, freight forwarders and customs brokers tools for export documentation, certificates of origin, freight quotation and customs clearance, and connect commercial, financial, logistics and government data across supply chains. It grew by acquiring Prodoc's export documentation software, a controlling stake in IVS Origin, FreightLegend, Cyberfreight and SpeEDI, expanded into Australia and Singapore, and was admitted to the SWIFT cooperative. In December 2020 it said its systems facilitated over 120,000 shipments a year to more than 150 countries. ASB Bank led its angel, seed, Series A and Series B rounds, including NZ$15 million in September 2021, and was then its largest shareholder with 22 per cent, ahead of chief executive AJ Smith with 17 per cent. | $0 | -64% | $12M | $10M | 1.8x | (13.9x) | ||
| Solution Dynamics Ltd is a company engaged in providing customer communications solutions. Its products and services are represented by revenue streams: Digital Printing & Document Handling Services; and Software and Technology, Outsourced services. Services include digital print and mail house processing for mail items like invoices, statements, and promotional materials. Software and Technology develop and markets its software products related to multi-channel marketing communications including digital asset management, communication templates, campaign management, document archiving, document composition, and desktop mail solutions among others. Its outsourced services elements are the post, freight, paper, and envelopes. | $0 | -15% | $5M | $965K | 0.0x | 0.4x | ||
| Median | $0 | -52% | $49M | $31M | 1.4x | (0.4x) |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
Recent Insights
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.