fiskaly secures investment from growth investor Verdane

Vienna, Austria – fiskaly, a cloud-based fiscalization provider, has secured an investment from Verdane, a European specialist growth investment firm.

The investment aims to enhance fiskaly’s market position in Germany, Austria and Spain, support the international expansion, and accelerate its goal of becoming Europe’s leading cloud-based fiscalization provider. Verdane invested from its Freya XI fund, closed last September at €1.1 billion hard cap, investing in Ticket-Sizes of 20-250 Million.

In Germany alone, the Federal Audit Office (2023) estimates that insufficient cash register tracking potentially results in up to EUR 70 billion in annual losses from uncollected taxes and social security contributions. To address such losses, fiscalization laws have been introduced in many European countries. They require businesses to electronically record and archive all transactions, a mandate that varies and can be complex across different jurisdictions.

fiskaly provides seamless, cloud-based solutions to meet these diverse requirements throughout Europe. Its clients include bigger Retailers and high-growth PoS-Software Vendors, such as orderbird, Lightspeed, SumUp and ready2order. With more than 800 B2B customers, serving 500.000+ PoS, fiskaly is securing up to 850 transactions per second in normal business hours.

Self-sustaining, growing and never having received institutional investment until now, fiskaly views this investment as an opportunity to enhance its financial stability and long-term growth even more. The company is set to focus on the Spanish market as its next major international success story.

Johannes Ferner, CEO of fiskaly, stated: “This investment is a testament to the hard work and dedication of our team. It will enable us to accelerate our growth even further and continue delivering top-notch fiscalization solutions. We are excited to collaborate with Verdane and leverage their expertise as we expand into Spain, and new markets such as Italy and beyond.”

Dominik Schwarz, Partner at Verdane, said: “We are very much looking forward to partnering with fiskaly, the founders as well as the entire team and support the next chapter of fiskaly’s growth journey with our in-house functional experts, ecosystem, and hands-on expertise. We strongly believe fiskaly contributes to greater transparency, efficiency and reduces tax evasion, ultimately benefiting society and we want to support the roll-out throughout Europe.”

Maximilian Kempken, Director at Verdane, said: “We thank the management team for choosing Verdane as their partner and for their confidence in Verdane’s platform, our thematic focus and our proven value creation recipe to support their ambition to future growth.”

As part of its growth strategy, fiskaly is exploring opportunities for mergers and acquisitions to enhance its market reach and service offerings, next to pushing the organic product and geo-expansions.

Verdane has invested in fiskaly from its Freya XI fund, which closed last September with a hard cap of EUR 1.1 billion, investing in ticket sizes of EUR 20-250 million. Verdane has recently successfully closed two funds above target for a total EUR 2.2 billion, including the Freya XI fund and the Edda III fund, which also closed at EUR 1.1 billion.

Advisors
For Verdane: Altman Solon (commercial due diligence), Schoenherr & YPOG (legal due diligence and counsel), PwC (financial and tax due diligence), Latham & Watkins (structuring)