Facilitating global business through a single connection
Pagero at a glance
Pagero develops a cloud-based, automated global communications network that enables business to send, receive and handle documents in the purchase-to-pay, order-to-cash, and logistics-to-pay processes, ensuring compliance with local regulatory and reporting requirements. The company is a global leader operating in a growing market supported by digitalization, ESG, and regulatory tailwinds. Pagero has 850+ employees across more than 30 offices serving over 90k client accounts in approximately 140 countries.
- Year acquired
- 2017
- Sector
- SaaS, Compliance
- Revenue
- EUR 72m
- Location
- Sweden
- Employees
- 906
- Website
- http://www.pagero.com
- Investment theme
- Tech-Enabled Transformation
- Contact
- christian.melby@summaequity.com
Key developments in 2023
2023 was a record year for Pagero at many levels. Organic revenue grew 33% (vs 23% in 2022) and its customer base exceeded 95k businesses reaching a network of 14m+ businesses. Pagero continued to expand its global footprint as more countries introduced e-invoicing and reporting mandates. In early 2024, Thomson Reuters acquired Pagero, ending Summa’s seven-year ownership. During this period, revenues have more than quadrupled through best-in-class product development and significant geographical expansion.
What are the challenges Pagero addresses
-
5%
of expected VAT revenue lost due to non-compliance across the EU 27, amounting to EUR 61 bn in 2021
-
9.6%
of companies in 2025 expected to be forced to only use e-invoices
How does Pagero help?
Reality today
Corporates struggle to meet compliance regulations due to a lack of a standardized process for business communications, leading to a widened VAT gap.
Pagero approach
Pagero automates business transactions between stakeholders to ensure compliance regulations are met across markets.
Aspirational future
Non-compliance and VAT loss is mitigated and efficiencies in transactions are realized, benefitting the government and the environment.
Who is impacted?
Civilians benefit as the VAT gap is diminished, generating more resources for governments. Emerging economies benefit disproportionately from expanded financial infrastructure. The planet benefits from minimizing the carbon footprint of financial transactions.
Contribution
Pagero enables corporate stakeholders to comply with regulations across markets and contributes to the ability of public institutions to minimize the VAT gap through automated transactions software.
Risks
Impact is less clear if Pagero primarily works in markets where the VAT gap is meaningfully more present.
