The Company

Founded in 2007, this niche software company was established when two experienced finance professionals joined forces after decades of working in the banking sector. The company is a leader in supporting banks with its software solutions that are used by financial institutions country wide.

The Need for Investment – Scale and Numbers for the Future

As a small but highly successful business, the company understood that no matter how established it was in the region, potential regulatory or other market changes could mean it might be perceived as “too small” at some point.

The Former Vice President explained:

“We knew we were strong, and our size had always been irrelevant – as long as the banking landscape stayed the same. But we saw this as a weak point in our future growth plans. In fact, we had already been approached by a few bigger companies looking to buy or merge with us, which would have given us the scale and numbers we might need in the future.”

Discovering Permanent Equity – A Different Way Forward

Selling was never going to be an easy decision for a family-owned business and earlier offers to merge or sell didn’t feel right. Then Upliift, the Permanent Equity provider was introduced to the leadership team by a trusted partner, who had recently been acquired by Upliift and saw similar potential for its model to secure the company’s future.

The Former Vice President shared:

“We hadn’t come across Upliift before, but we trusted the recommendation when we learned about the opportunity. We’d been looking for a partner, and the idea of Permanent Equity appealed to us instead of going down the venture capital or private equity route. It didn’t feel like they were speculating but truly investing in our future.”

This long-term perspective aligned perfectly with the company’s vision, and the decision to proceed was quick and straightforward. The smooth transition was further supported by Upliift’s readily available capital, experienced local team, and proven onboarding process.

 Post-Acquisition – What’s Changed?

New processes and ways of reporting are just two aspects that have evolved since the acquisition.

The Former Vice President noted:

“While the most senior team members are still actively involved with the company, we’re learning a different way of doing certain things. Planning and budgeting have to be more formal than before – we can’t keep great ideas in our heads; we need to put them down on paper!”

Additionally, an exciting new collaboration with another portfolio company has begun. Together, they are creating an advanced technology platform for the financial services industry. This platform will streamline information sharing between stakeholders, saving time and money while reducing the risk of losing guarantees.

The Future

With Upliift focused on long-term growth opportunities and collaboration with a fellow portfolio company, the company feels well-positioned for any future changes in Southeast Europe’s banking landscape.

The Former Vice President concluded:

“We feel confident about the future now and excited about the next chapter for our business.”