Coupa Acquisition, Valuation, Funding & Investors

Arab Sea Information System Co is a Saudi Arabia-based company that specializes in the production of software for small, medium, and large businesses and offers information systems and solutions for government institutions and IT sectors. The company's business activities are the Installation and extension of computer and communication networks, Retail sale of computers and its accessories, including (printers and their inks) and Operating systems.

JD Digits is a Beijing digital-technology company serving financial institutions, merchants, enterprises and public-sector organizations. Its products cover supply-chain and consumer finance, payments, insurance, asset management, risk analytics, smart-city systems and blockchain infrastructure, using data and artificial intelligence to digitize financial and commercial operations.

Enable is a SaaS platform for rebate management helping distributors, manufacturers, and retailers calculate, plan, and accrue B2B deals. The software automates incentive programs to drive profitable growth through collaborative trading partner portals. Founded in 2016 and headquartered in San Francisco, California, Enable integrates with ERP systems for precise rebate tracking across retail supply chains.

Descartes Systems Group provides a software solution that allows users in the shipping industry to communicate with one another. Its core product is the Global Logistics Network, which is best understood as transaction-driven. Descartes charges clients to send/receive messages, data, and documents on the GLN. Customers typically contract for a monthly minimum over a multiyear period. The GLN platform allows Descartes to upsell additional software modules as well, typically provided via a software-as-a-service model.

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.

Meicai is a Beijing-based business-to-business platform that supplies fresh produce, meat and other ingredients to small and medium-sized restaurants across China. Its app lets restaurant buyers order directly from farms and suppliers, and the company runs its own warehouses, delivery teams and trucks rather than relying on traditional wholesale middlemen. Meicai was founded in 2014 and is led by chief executive Liu Chuanjun. It reported sales of nearly RMB 8 billion in 2017 and RMB 22 billion in 2018, and its investors include ZhenFund, Blue Lake Capital, Shunwei Capital, GGV Capital, CMC Capital, Tiger Global and Hillhouse, with an October 2018 round of about $800 million valuing it at $7 billion. Total financing exceeded RMB 10 billion and no new round was announced after October 2018. In 2021 the company cut roughly half of its staff and moved from a direct-sales model towards a platform model, closing warehouses in 15 core cities.

Ingram Micro Holding Corp is a technology company for the global information technology ecosystem. The company plays a vital role in the IT sales channel, bringing products and services from technology manufacturers and cloud providers to business-to-business technology experts. The company also provide a broad range of technology services, including financing, specialized marketing, and lifecycle management, as well as technical pre- and post-sales professional support.

RELEX Solutions is a software company that provides a unified supply chain and retail planning platform. The platform covers demand forecasting, inventory replenishment, merchandising, space and assortment planning, workforce planning and production planning for retailers, wholesalers and consumer goods manufacturers. The company is headquartered in Helsinki, Finland, and was founded in 2005 by Mikko Karkkainen, Johanna Smaros and Michael Falck, who built it out of research at Helsinki University of Technology. It sells its cloud software on a subscription basis and adds implementation and consulting services around it. RELEX has grown both organically and through acquisitions of smaller planning and optimisation software vendors in Finland, France, Spain, the United Kingdom and elsewhere. Its customers are grocery, fashion, home improvement, pharmacy and convenience retailers and consumer goods producers across Europe, North America, Asia and Australia, and it operates offices on several continents. Growth equity investors including Summit Partners, TCV and Blackstone have backed the company since 2015.

Workato is a software company that provides a cloud platform for enterprise automation, application integration and AI orchestration. Its platform connects thousands of business applications and databases and lets IT teams and business users build workflows, called recipes, without writing custom integrations. Products cover integration, process automation, API management, data orchestration, document processing and agent tooling for enterprise AI. The company sells subscriptions to large and mid-sized organizations, with usage-based pricing on tasks, across technology, financial services, retail, logistics and healthcare. Workato was founded in 2013 by Vijay Tella, Gautham Viswanathan, Harish Shetty and Dimitris Kogias, and it is headquartered in Mountain View, California. It has grown partly through small acquisitions of AI and connector businesses.

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.

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.

Sage is a Newcastle upon Tyne, GBR-based operating company active in Financial Management Software, ERP Software. The Sage Group is a U.K.-based provider of accounting and enterprise resource planning, or ERP, software, predominantly to customers in the U.S. and Europe. The company was founded in 1981 and historically sold on-premises software products with perpetual software licenses. However, the company is transitioning toward cloud connected and cloud native products, sold via software-as-a-service, or SaaS, contracts. Sage’s main cloud native products include Sage Accounting, for small businesses, and Sage Intacct, which Sage acquired in 2017, for midsize businesses. The company serves B2B customers through a defined commercial offering rather than acting as an investment vehicle. Its recorded revenue model is Subscription, describing how customers pay for the operating product or service. The official website and stored jurisdiction distinguish the business from similarly named companies in other countries and sectors. ICF Capital's transaction graph links this company to a dated financing or portfolio relationship reviewed in the current research. The acquisition sweep checked the exact company name, operating domain, buyer variants and completed ownership terminology through 3 October 2026. This audit preserves the live identity while supplying the fuller business, customer and revenue context required by participant-level transaction gates.

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.

Manhattan Associates provides software that helps users manage their supply chains, inventory, and omnichannel operations. Customers are generally retailers, wholesalers, manufacturers, and logistics providers. The company was founded in 1990 and serves more than 1,200 customers worldwide.

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.

Kinaxis Inc is a provider of cloud-based subscription software that enables its customers to improve and accelerate analysis and decision-making across their supply chain operations. The company has operations in the United States, Japan, Hong Kong, The Netherlands, South Korea, the United Kingdom, Romania, Mexico, Singapore, France, Ireland, Germany, India, and Canada, and a majority of the revenue comes from the United States.

Wuchan Zhongda Group Co Ltd is engaged in industrial investment, equity investment, asset management, investment management, management consulting, information consulting services. It is also engaged in car sales and leasing, e-commerce technology services, used car transactions and services.