Eurazeo, through its Small-mid buyout team, is pleased to announce its investment in Rydoo, a leading global provider of expense management software. Rydoo’s product offering empowers corporate clients to manage and control employee spending through smart and automated expense management solutions. The transaction will be the ninth investment for Eurazeo PME IV and sits at the core of the Small-mid buyout strategy of supporting fast-growing European technology and B2B services’ SMEs in their international expansion.
Headquartered in Belgium, Rydoo provides a flexible and powerful SaaS solution to automate corporate expense management with best-in-class end-user experience and a set of advanced features to address the needs of finance departments. The company serves a loyal and growing customer base of 3000+ midsize and enterprise clients across 132 countries.
Operating in a large global market experiencing double-digit growth thanks to positive structural drivers (penetration of digital expense management solution, new features such as smart audit, etc.), Rydoo has delivered a strong growth track record, posting over +32% organic CAGR over the past years to reach €20+m ARR.
The management team of Rydoo and the Eurazeo Small-mid buyout team share the ambition of supporting innovation to further broaden the value proposition for clients and maintain their high satisfaction level, a key success factor to Rydoo’s fast-paced organic growth.
The completion of the transaction remains subject to the realization of customary closing process and operations. Funds managed by Eurazeo will become the majority shareholders. Current financial sponsor Marlin Equity Partners will reinvest to continue to back Rydoo’s success alongside Eurazeo.
Benjamin Hara, Partner – Small-mid buyout, at Eurazeo said:
« We are delighted to partner with Sebastien Marchon, his team and Marlin Equity Partners and look forward to backing the company’s next growth chapter. Software is a key focus sector for the Eurazeo Small-mid buyout team and we believe Rydoo is a perfect match to our ambition of supporting leading businesses with a proven track record, strong momentum in attractive end-markets, and talented leadership. »
Sebastien Marchon, CEO of Rydoo:
« Rydoo has established itself as a key player in Expense Management with a large base of loyal international clients that we serve in 132 countries. We are ready to accelerate and strengthen our position in key markets. Eurazeo, with its tech expertise, value creation insights and global presence, is the ideal partner for this new chapter. We are excited to start working with the Eurazeo Small-mid buyout team and feel very aligned in terms of pragmatic business mindset and core values, including a strong ESG commitment. »
Jérémy Nakache, Marlin Equity Partners:
« We are proud to have supported Rydoo and its management team over the past few years in its successful growth strategy. Eurazeo is a great partner to support the company in its expansion and we are very pleased to continue the journey as we keep seeing exciting opportunities ahead for Rydoo. »
