Facilitating global business through a single connection

Pagero at a glance

Pagero develops and markets Pagero Network, a cloud-based platform, commonly referred to as a business network, that enables customers to send, receive, and handle documents electronically with accurate data in the purchase-to-pay, order-to-cash, and logistics-to-pay processes. The company is a global leader operating in a growing market supported by digitalization, ESG and regulatory tailwinds. Pagero has more than 85% recurring revenue, customers in 140+ countries, low churn (2-3%), more than 5m transactions per month, and a network that reaches 12m companies directly or via roaming agreements.

Year acquired



SaaS, Compliance





Investment themes

Tech-Enabled Transformation

Key developments in 2021

2021 was an action-packed year for Pagero, with the acquisition of Gosocket followed by the IPO being some of the key developments. The Gosocket transaction allowed Pagero to expand its footprint into LatAm and create a truly global player. Pagero also grew organically, signing new agreements with blue chip customers, including several Top-10 global tech companies. ARR growth was 41% during 2021, and the customer base grew by 61%. The year also saw continued investment in R&D, and several new features were added to the platform.

Impact dimensions

The challenges we face

The product improves business regulatory compliance and helps reduce the VAT gap and increases tax recovery and thus benefits governments worldwide. Moreover, it improves efficiency by automating global format and standards translations and by eliminating errors and busywork in important sectors, e.g., the healthcare and the public sector, where Pagero has a large customer base. This also helps reduce the environmental footprint by reducing paper use.

Who are the stakeholders?

Pagero’s corporate clients experience efficiency gains, and so do their suppliers who also interact with the network. Governments benefit from improved VAT collection. Finally, the environment benefits through reduced paper use.

How big is the effect, and does it last?

Pagero’s solutions can help mitigate non-compliance, VAT loss and inefficiencies through 74k client accounts across 140 markets. Customers can achieve a 60-80% cost reduction, fewer document errors, and improved regulatory compliance.

If Pagero didn’t exist...

Pagero's vision is to build the largest, open business network which will enable more governments and businesses to achieve 100% digital document flows. Without Pagero's services, managing regulations in multiple markets is a cumbersome process for any business. There are alternative solutions to Pagero, but arguably none with the same ease of use and price/performance ratio.

Impact risk: what can go wrong?

Data protection, cybersecurity and disruption to services are significant issues in the industry. To remain at the forefront with regards to technology, Pagero expanded their R&D team and invested over 250k hours into developing their platform during 2021. Moreover, the company are ISO 27001 data security and ISO 27701 data protection compliant and was able to maintain zero downtime, with no security breaches across the Pagero Network throughout the year.

SDG alignments

SDG 12
SDG 16

KPI reporting

Revenue (SEKm)


Client accounts in pagero network (k)


Number of markets