Monterro 1 AB has finalised an investment in Palette Software & Consulting AB, a leading supplier of solutions for Purchase to Pay. The founders will remain as majority shareholders and will continue to be active in the company.
Palette provides a software platform that increases the efficiency of customer’s financial processes such as purchase, cost control and e-invoicing, generally called “purchase to pay”. The company has a leading position in the Nordics and has started a promising international expansion.
Palette has 90 employees and is headquartered in Stockholm. Other offices are located in Sweden, Denmark, Finland and USA. The company has today over 1 800 customers in 50 countries and a turnover of approximately SEK 100m with good growth and profitability.
– We are impressed with the platform and the market position Palette has built under profitable growth and look forward to supporting the management team with developing and strengthening the company’s position and offering. With Monterro’s experience in expanding Nordics software companies internationally, Palette is a very good fit for our portfolio, says Lars Sveder, Managing Partner, Monterro.
– When we met Monterro we were struck by how they fit our strategy and what we want to achieve with Palette. We also saw how their involvement and experience will benefit our development and international expansion, says Lars Ola Petters, CEO, Palette.
About Monterro 1 AB
Monterro 1 AB invests in Nordic software companies by providing capital as well as to actively support the company’s development. The investors behind Monterro consists of the founders and private investors.
For further information, please contact:
Lars Sveder, Managing Partner, Monterro, tel +46 8 20 05 56
Lars Ola Petters, CEO, Palette, tel +46 8 563 09 200