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VEF Valuation Multiples
Discover revenue and EBITDA valuation multiples for VEF and similar public comparables like United Bankers, RBR Alpha Multiestrategia Real Estate, Vectis Juros Real FII, Fator Verita FII and more.
VEF Overview
About VEF
VEF AB is an investment company. It invests in growth-stage private fintech companies. It focuses on scaling emerging markets and invests across all areas of financial services inclusive of payments, credit, mobile money and wealth advisors.
Founded
2020
HQ

Employees
8
Website
Sectors
Financials (FY)
EV
$229M
VEF Financials
VEF reported last fiscal year revenue of ($529K) and EBITDA of $89M.
In the same fiscal year, VEF generated ($3M) in gross profit, $89M in EBITDA, and $85M in net income.
VEF P&L
In the most recent fiscal year, VEF reported revenue of ($529K) and EBITDA of $89M.
VEF expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | — | XXX | ($529K) | XXX | XXX | XXX |
| Gross Profit | — | XXX | ($3M) | XXX | XXX | XXX |
| Gross Margin | — | XXX | 541% | XXX | XXX | XXX |
| EBITDA | — | XXX | $89M | XXX | XXX | XXX |
| EBITDA Margin | — | XXX | (16907%) | XXX | XXX | XXX |
| EBIT Margin | — | XXX | (17889%) | XXX | XXX | XXX |
| Net Profit | — | XXX | $85M | XXX | XXX | XXX |
| Net Margin | — | XXX | (16152%) | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
VEF Stock Performance
VEF has current market cap of $240M, and enterprise value of $229M.
Market Cap Evolution
VEF's stock price is $0.22.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $229M | $240M | 0.3% | XXX | XXX | XXX | $0.08 |
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Start Free TrialVEF Valuation Multiples
VEF trades at (433.5x) EV/Revenue multiple, and 2.6x EV/EBITDA.
VEF Financial Valuation Multiples
As of April 20, 2026, VEF has market cap of $240M and EV of $229M.
Equity research analysts estimate VEF's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
VEF has a P/E ratio of 2.8x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $240M | XXX | $240M | XXX | XXX | XXX |
| EV (current) | $229M | XXX | $229M | XXX | XXX | XXX |
| EV/Revenue | — | XXX | (433.5x) | XXX | XXX | XXX |
| EV/EBITDA | — | XXX | 2.6x | XXX | XXX | XXX |
| EV/EBIT | — | XXX | 2.4x | XXX | XXX | XXX |
| EV/Gross Profit | — | XXX | (80.1x) | XXX | XXX | XXX |
| P/E | — | XXX | 2.8x | XXX | XXX | XXX |
| EV/FCF | — | XXX | 8.9x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified VEF Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.


VEF Margins & Growth Rates
VEF's revenue in the last fiscal year grew by 82%.
VEF's revenue per employee in the last FY averaged $-0.1M, while opex per employee averaged $-12.2M for the same period.
VEF Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | — | XXX | 82% | XXX | XXX | XXX |
| EBITDA Margin | — | XXX | (16907%) | XXX | XXX | XXX |
| EBITDA Growth | — | XXX | (209%) | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $-0.1M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $-12.2M | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 18430% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
VEF Public Comps
See public comps and valuation multiples for other Asset Management and PE & VC comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| VEF | XXX | XXX | XXX | XXX | XXX | XXX |
| United Bankers | XXX | XXX | XXX | XXX | XXX | XXX |
| RBR Alpha Multiestrategia Real Estate | XXX | XXX | XXX | XXX | XXX | XXX |
| Vectis Juros Real FII | XXX | XXX | XXX | XXX | XXX | XXX |
| Fator Verita FII | XXX | XXX | XXX | XXX | XXX | XXX |
| Augmentum Fintech | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
VEF M&A Activity
VEF acquired XXX companies to date.
Last acquisition by VEF was on XXXXXXXX, XXXXX. VEF acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by VEF
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialVEF Investment Activity
VEF invested in XXX companies to date.
VEF made its latest investment on XXXXXXXX, XXXXX. VEF invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by VEF
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout VEF
| When was VEF founded? | VEF was founded in 2020. |
| Where is VEF headquartered? | VEF is headquartered in Sweden. |
| How many employees does VEF have? | As of today, VEF has over 8 employees. |
| Who is the CEO of VEF? | VEF's CEO is David Nangle. |
| Is VEF publicly listed? | Yes, VEF is a public company listed on Nasdaq Stockholm. |
| What is the stock symbol of VEF? | VEF trades under VEFAB ticker. |
| When did VEF go public? | VEF went public in 2021. |
| Who are competitors of VEF? | VEF main competitors are United Bankers, RBR Alpha Multiestrategia Real Estate, Vectis Juros Real FII, Fator Verita FII. |
| What is the current market cap of VEF? | VEF's current market cap is $240M. |
| What is the current revenue of VEF? | VEF's last fiscal year revenue is ($529K). |
| What is the current EV/Revenue multiple of VEF? | Current revenue multiple of VEF is (433.5x). |
| Is VEF profitable? | No, VEF is not profitable. |
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