[Global] Investcorp acquires payroll-as-a-service provider VEDA

Global alternative investment firm Investcorp has announced that its global technology arm, Investcorp Technology Partners (ITP) has agreed to acquire a majority stake in VEDA, a full-suite HR software and digitally-enabled payroll-as-a-service provider in the DACH region, EU-Startups reports.

Ralf Graessler - VEDA’s CEO - will remain invested in the company alongside Investcorp. Terms of the transaction have not been disclosed.

Germany-based VEDA provides a platform solution for digital HR management, including payroll, time and security, recruiting, personnel development and learning management to digitise tasks and minimise administrative effort. 

The company reportedly has approximately 1,200 clients, including MAN, Lufthansa and many mid-market enterprises. In 2023 VEDA generated revenues of €20 million.

As VEDA’s first institutional investor, ITP will help strengthen the company’s go-to-market strategy and further build out its portfolio of products and services, focusing on the company’s fast-growing cloud business. As the company operates across the large and fragmented DACH HR and payroll markets, the investment will also allow VEDA to grow through add-on acquisitions of companies with complementary products and services.

Georg Knoflach - Managing Director at ITP - said, “Investcorp Technology Partners is pleased to be investing in VEDA, a company that continues to have a leading position in the ca. €3 billion DACH HR and payroll software/services market for SMEs. We were impressed by the quality of VEDA’s products and go-to-market strategy, and we see incredible opportunities to support the Company as it helps more SMEs move their mission-critical HR services to the cloud. We look forward to partnering with CEO Ralf Graessler and the entire VEDA team on this next phase for the Company”.

Ralf Graessler - CEO of VEDA - said, “We are very proud to be bringing in Investcorp Technology Partners as VEDA’s first institutional investor. ITP’s knowledge of our sector and market are unparalleled, and they are the perfect partner for us as we move into our next stage of growth, both in terms of digitalisation and through further acquisitions. VEDA will continue to move from strength to strength under this new partnership as we bring exceptional HR software solutions and services to even more companies in the DACH region.”

Source: EU-Startups

(Quotes via original reporting)

Global alternative investment firm Investcorp has announced that its global technology arm, Investcorp Technology Partners (ITP) has agreed to acquire a majority stake in VEDA, a full-suite HR software and digitally-enabled payroll-as-a-service provider in the DACH region, EU-Startups reports.

Ralf Graessler - VEDA’s CEO - will remain invested in the company alongside Investcorp. Terms of the transaction have not been disclosed.

Germany-based VEDA provides a platform solution for digital HR management, including payroll, time and security, recruiting, personnel development and learning management to digitise tasks and minimise administrative effort. 

The company reportedly has approximately 1,200 clients, including MAN, Lufthansa and many mid-market enterprises. In 2023 VEDA generated revenues of €20 million.

As VEDA’s first institutional investor, ITP will help strengthen the company’s go-to-market strategy and further build out its portfolio of products and services, focusing on the company’s fast-growing cloud business. As the company operates across the large and fragmented DACH HR and payroll markets, the investment will also allow VEDA to grow through add-on acquisitions of companies with complementary products and services.

Georg Knoflach - Managing Director at ITP - said, “Investcorp Technology Partners is pleased to be investing in VEDA, a company that continues to have a leading position in the ca. €3 billion DACH HR and payroll software/services market for SMEs. We were impressed by the quality of VEDA’s products and go-to-market strategy, and we see incredible opportunities to support the Company as it helps more SMEs move their mission-critical HR services to the cloud. We look forward to partnering with CEO Ralf Graessler and the entire VEDA team on this next phase for the Company”.

Ralf Graessler - CEO of VEDA - said, “We are very proud to be bringing in Investcorp Technology Partners as VEDA’s first institutional investor. ITP’s knowledge of our sector and market are unparalleled, and they are the perfect partner for us as we move into our next stage of growth, both in terms of digitalisation and through further acquisitions. VEDA will continue to move from strength to strength under this new partnership as we bring exceptional HR software solutions and services to even more companies in the DACH region.”

Source: EU-Startups

(Quotes via original reporting)