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(+ 353) 1 592 0850Two major figures in the software world have joined iplicit as investors and advisors.
iplicit is on track to deliver its sixth consecutive year of triple-digit growth by the end of 2024 and is eyeing ARR of £100m in the next six years.
Its latest investors are two titans of the European fintech industry.
They are:
- Øystein Moan, Executive Chairman and former CEO of business software company Visma, who becomes a Non-Executive Director
- Nic Humphries, Senior Partner and Executive Chairman of Hg and head of its Saturn fund, who becomes a Strategic Advisor.
iplicit recently announced a trio of star appointments to strengthen its C-suite: former Xero regional COO Damon Anderson as Chief Marketing Officer; accounting software industry heavyweight Paul Sparkes as Chief Product Officer; and Scott Regnier, “President-in-waiting” of a planned US operation, as Chief Sales Officer.
iplicit CEO Lyndon Stickley said: “iplicit now has the all-star team it needs for its next phase of hypergrowth.
“These investors and advisors are adding even more momentum to our ascent towards becoming the dominant accounting software provider for the UK midmarket.
“We’re set up for another phenomenal year of growth in 2025 and we fully anticipate we will continue to acquire more UK customers than every other midmarket cloud accounting provider in our field.”
As CEO of Visma from 1997 to 31 March 2020, Øystein Moan oversaw the company's growth in enterprise value from less than €50 million to over €11 billion. He established the largest SMB cloud software business in Europe, and the $12.2 billion buyout led by Hg in mid-2020 became the largest software buyout globally.
As Executive Chair at Hg, Nic Humphries has ultimate responsibility for strategy, management and governance. He has focused exclusively on software and technology for 28 years. Having joined Hg in 2001 as founder of its software team and as CEO from 2007-2017, he helped build Hg into the leading software investor in Europe.
iplicit was launched in 2019 to serve primarily organisations with legacy, on-premises finance software, that needed to move to cloud but had requirements beyond entry-level systems like Xero and did not have the appetite for the expense and disruption associated with products such as NetSuite.
The company expects to continue onboarding more new customers in 2025 than any other cloud accounting product in the UK midmarket, including Sage.
In 2024, it was named 18th among UK companies in the FT1000 list of Europe’s fastest-growing businesses and gained a top 10 position in the Sunday Times Best Places to Work.