Apptio Acquisition, Valuation, Funding & Investors

Pleo is a Copenhagen-headquartered spend management platform founded in 2015 for European businesses. The app automates expense tracking, reporting, and approvals for teams, integrating with accounting software like Xero and QuickBooks. Available in multiple countries including the UK, Germany, and France, Pleo issues corporate cards and handles reimbursements for SMBs.

BILL Holdings Inc is a provider of software-as-a-service, cloud-based payments and spend and expense management products, which allow users to automate accounts payable and accounts receivable transactions, enable businesses to easily connect with their suppliers or customers to do business, eliminate expense reports, manage cash flows and improve back office efficiency. Initial Public Offering and Follow-on Offering.

Pennylane is a cloud-based financial operations platform automating accounting, invoicing, and expense management for European SMEs. Paris-headquartered since 2019, it integrates bank feeds, payroll, and tax compliance tools from providers like Stripe and Qonto, serving over 200,000 businesses across France.

Qonto is a digital banking platform for European SMEs, freelancers, and startups, offering business accounts, cards, invoicing, and expense management via mobile app and web. It supports multi-currency transfers, SEPA payments, and integrations with accounting software like Xero and QuickBooks. Paris-headquartered, Qonto operates in France, Germany, Italy, Spain, and Belgium, holding banking licenses through partnerships with Solarisbank and Trees. Founded in 2017, the neobank serves over 450,000 businesses with real-time notifications and automated reconciliation.

Branch is a mobile marketing platform specializing in deep linking, attribution, and user journey analytics. San Francisco-headquartered and founded in 2014, the company tracks cross-platform campaigns for apps on iOS and Android. World-class clients including Instacart, Western Union, NBCUniversal, Zocdoc, and Sephora use Branch to measure ROI on ad spend across Google Ads, Facebook, and Snapchat. The platform processes billions of links monthly, ensuring privacy compliance with App Tracking Transparency.

Papaya Global provides software and regulated payment infrastructure for managing international workforces. Its platform unifies payroll, employer-of-record services, contingent-worker administration, compliance, workforce data and payments across more than 180 countries. Finance, human-resources and payroll teams use it to standardize data, validate payroll cycles, manage different worker types and deliver cross-border workforce payments through one operating system.

Chargebee is a San Francisco-headquartered subscription billing platform for SaaS and e-commerce companies. It handles recurring revenue through integrations with Stripe, Zuora, and Shopify, supporting dunning, usage-based pricing, and multi-currency invoicing for clients like Pretium and Calendly. Processing billions in annual transactions across 200 countries, Chargebee offers revenue recognition compliant with ASC 606. Founded in 2011 with roots in Chennai, it serves over 20,000 businesses worldwide.

Qontigo is a financial data and analytics provider under Deutsche Börse Group, specializing in multi-asset risk management, index licensing, and portfolio construction tools. Its platforms cover equity, fixed income, commodities, and ESG factors, serving asset managers, banks, and pension funds globally. Eschborn-headquartered with offices in New York, London, and Zug, Qontigo licenses indices like STOXX Europe 600 and provides Axioma risk models. Formed in 2019 from the merger of Axioma, DAX, and STOXX, it equips clients with cloud-based analytics for investment decisions.

TOTVS is a Brazilian software company headquartered in Sao Paulo and listed on the B3 under the ticker TOTS3. It was founded in 1983 as Microsiga by Laercio Cosentino and Ernesto Haberkorn and took its present name after the merger with Logocenter in 2005. It sells enterprise resource planning software, financial technology services through its Techfin unit, a joint venture with Itau Unibanco, and marketing and sales automation through RD Station. It serves more than 70,000 clients in twelve segments of the Brazilian economy, has about 12,000 employees and reported revenue of BRL 5.38 billion in 2024. It has made more than fifty acquisitions, including Datasul in 2008, Bematech in 2015, RD Station in 2021 and Linx in 2025.

HighRadius is a Houston-headquartered provider of cloud-based autonomous finance software for the Office of the CFO. Its platform automates accounts receivable, treasury, and record-to-report processes for industries including manufacturing, distribution, consumer products, and energy. HighRadius serves over 1,000 enterprises worldwide with AI-driven cash application and credit management tools.

Vertex Inc is a provider of tax technology and services. Its software, content, and services help customers stay in compliance with indirect taxes that occur in taxing jurisdictions all over the world. It provides cloud-based and on-premise solutions to specific industries for every line of tax, including income, sales, consumer use, value-added, and payroll. The company offers solutions such as tax determination, Tax Data Management, document management, and compliance and reporting, among others. The company derives revenue from software subscriptions.

Money Forward Inc provides money-related services for individuals and corporations. Its service portfolio comprises personal financial management services and MF cloud services. Its personal financial management services include economic media that conveys money related themes, automatic savings app and mirai talk channel where customers can resolve their financial concerns together directly with financial planners. Its MF Cloud services comprise cloud accounting software, cloud-based tax return, invoice preparation software, payroll calculation, and cloud-based payment reconciliation.

Shanghai DZH Ltd operates as an Internet financial information service provider in China. It offers professional financial data and data analysis services. It also provides non-investment consulting and agency-specific software products. In addition, the company offers financial information integrated services internationally.

Xero is a technology company originating from New Zealand, providing cloud-based accounting software, primarily for small and midsized enterprises, or SMEs, and accounting practices. As a first mover in the space for cloud-based accounting software, Xero has grown quickly to achieve dominant market share in New Zealand and Australia, displacing legacy providers. Xero has also expanded beyond its home region toward other English-speaking countries, primarily the UK and the US.

N26 is a Berlin-headquartered mobile bank operating in 24 European countries since 2013. It offers current accounts, international transfers via SEPA, investments through N26 Invest, and cash deposits at 40,000 partner retailers. The app supports Spaces sub-accounts, overdrafts up to €10,000, and cryptocurrency trading for personal and business users.

Jeeves is a New York-headquartered global financial platform providing corporate cards, bill payments, expense management, and AI-driven accounting automation. Launched in 2019, it supports businesses in Brazil, Colombia, North America, and EMEA with tools for multi-currency transactions, serving clients like H&M, Burger King, and Nubank.

PayFit is a Paris-headquartered SaaS provider automating payroll, expense management, and HR compliance for SMEs in France, Spain, Italy, and the United Kingdom. The platform processes salaries, generates payslips, and handles social declarations integrated with local tax authorities. Serving over 250,000 companies, PayFit connects with accounting software like Sage and Xero. Founded in 2016, it raised funds from investors including Eurazeo and expanded via acquisitions like LeaveBoard for time-tracking features.

Vestwell is a New York-headquartered financial technology platform delivering workplace savings solutions including 401(k), 403(b), IRA, 529 education, emergency, and ABLE accounts. Established in 2016, it integrates with payroll providers such as ADP and Paychex to streamline enrollment and administration for employers nationwide. The API-based system supports student loan repayment benefits and serves financial advisors, institutions, and government agencies, powering accounts for businesses across the United States with a focus on accessibility for retirement, education, healthcare, and disability savings.