Strategic Expansion: Visma Buys Finmatics Austrian AI Pioneer Becomes Key to DACH Strategy

Europe’s accounting sector—particularly in the DACH region (Germany, Austria, and Switzerland)—stands at a critical juncture. Amid growing regulatory complexity, a shortage of skilled tax consultants, and heightened demand for real-time financial reporting, firms are urgently seeking smarter, more automated back-office solutions. While larger enterprises have gradually adopted ERP systems, small and medium-sized enterprises and independent accounting firms—the financial backbone of the region—remain early in their digital transformation journeys.

Burdened by fragmented systems and compliance-heavy workflows, these organizations increasingly turn to AI-powered automation to streamline operations. Against this backdrop, Visma buys Finmatics—the Vienna-based leader in AI-driven accounting automation—in a strategic April 2025 move to dominate one of Europe’s most regulation-intensive markets.

Though financial terms remain undisclosed, analysts estimate Visma buys Finmatics for between €30M and €50M, reflecting the latter’s proprietary technology and strategic role in transforming document processing. The acquisition—closely following Visma’s earlier purchase of BuchhaltungsButler in Germany—further underscores the Norwegian software giant’s regionally focused expansion strategy in the DACH region.

About Visma: A Playbook of Localised Scale

Founded in 1996 and headquartered in Oslo, Norway, Visma is one of Europe’s largest private software companies, operating in over 20 countries and serving more than 1.7 million customers. Its product suite spans cloud-based solutions for finance, HRM, payroll, ERP, and procurement, tailored to the needs of small and medium-sized enterprises, public sector institutions, and large corporations. What sets Visma apart is its federated acquisition strategy— a distinctive model that emphasizes buying strong local software companies and allowing them to retain their autonomy, thereby maintaining close relationships with regional customers while benefiting from Visma’s shared infrastructure and commercial ecosystem.

Visma’s growth strategy is deeply rooted in mergers and acquisitions, with over 300 companies acquired to date. Rather than fully absorbing these businesses, Visma integrates them loosely, allowing for innovation at the local level. This approach not only reduces integration risk but also fosters agility across markets — particularly in complex, regulation-heavy sectors.

A significant part of this strategic evolution is attributed to Øystein Moan, who served as CEO from 1997 to 2020. With a Master’s in Computer Science from the University of Oslo, Moan blended technical expertise with strategic foresight. Under his leadership, Visma transitioned from a traditional IT service provider to a cloud-first SaaS leader in Europe. Moan’s emphasis on scalability, product excellence, and decentralized management enabled Visma to grow rapidly without diluting its customer-centric approach.

Since Moan stepped down, current CEO Merete Hverven has continued to drive this vision forward, expanding Visma’s footprint in fragmented markets like the DACH region. Today, Visma stands as a model for sustainable software growth, balancing local autonomy with international scale — a legacy that reflects Moan’s lasting impact on the company’s DNA.

Finmatics: Revolutionizing Accounting with AI

Finmatics, founded in 2016 in Vienna, Austria, is a leader in AI-powered accounting automation. The company was co-founded by Christoph Prieler (CEO), Ulrich Troeller, and Dr. Patrick Sagmeister (CTO). Christoph Prieler, with a background in finance and accounting, co-founded the company after recognizing inefficiencies in traditional accounting methods. His leadership has been crucial in driving Finmatics’ growth, particularly in the DACH region (Germany, Austria, and Switzerland).

Ulrich Troeller, an expert in management consulting, brings a wealth of experience in optimizing business processes and strategy, helping shape Finmatics’ operational approach. Dr. Patrick Sagmeister, the CTO, is a data scientist with expertise in machine learning and AI and has been pivotal in developing Finmatics’ AI-driven platform that automates accounting tasks like document handling, invoice processing, and data reconciliation.

Finmatics’ platform leverages machine learning, optical character recognition (OCR), and workflow intelligence to automate key accounting tasks, cutting processing times by up to 70% and reducing errors by 90%. The platform integrates seamlessly with popular ERP systems like DATEV, BMD, SAP, and Microsoft Business Central, making it easy for users to incorporate automation into their existing workflows. The company targets SMEs and tax consultants in the DACH region, where complex tax regulations demand customizable, scalable solutions.

In March 2023, Finmatics secured €6 million in Series A funding from Mangrove Capital Partners and eQventure, which will help further enhance its platform and expand its reach across Europe. With its focus on sustainable growth and a cutting-edge platform, Finmatics is poised to lead the way in AI-driven accounting automation.

Why Visma Buys Finmatics: Strategic Rationale Behind the Deal

Visma’s decision to acquire Finmatics is a well-calculated move to deepen its presence in the DACH region while reinforcing its vertical integration within the accounting sector. The acquisition aligns with Visma’s broader strategy of expanding into specialized, high-growth markets, leveraging local expertise and regulatory knowledge to offer tailored solutions.

Geographic Expansion with Regulatory Depth

The acquisition of Finmatics allows Visma to strengthen its foothold in Austria and Germany, where regulatory complexity is high, and local compliance standards are critical. With the region’s SMEs and accounting firms struggling to cope with manual processes and regulatory demands, the integration of Finmatics’ AI-driven automation into Visma’s existing portfolio positions the company as a key player in transforming accounting practices in these markets. This move builds on Visma’s previous acquisition of BuchhaltungsButler in Germany, signaling its commitment to investing in the DACH region’s growing demand for digitized accounting solutions.

Vertical Integration within the Accounting Value Chain

Finmatics’ specialization in AI-powered accounting automation complements Visma’s broader vision of providing end-to-end solutions for back-office operations. Rather than simply offering modular software, Visma aims to integrate Finmatics’ technology within its existing suite of products to create a comprehensive, seamless accounting ecosystem. This vertical integration enables Visma to offer solutions that span the entire accounting workflow—from document intake and data processing to audit trails and compliance reporting—without relying on third-party providers.

Proprietary AI and Document Intelligence

Finmatics has developed a proprietary AI stack that combines OCR and machine learning to deliver highly accurate and efficient document processing. This technology is a significant asset, as it is difficult to replicate and provides a competitive edge. By acquiring Finmatics, Visma gains access to this sophisticated AI infrastructure, which can be leveraged across other parts of its portfolio, particularly in markets with similar regulatory frameworks and document processing needs. Furthermore, this AI technology strengthens Visma’s position as a leader in the automation of finance and accounting workflows, solidifying its long-term competitive advantage.

Founder Retention and Product Continuity

One of the key elements of Visma’s acquisition strategy is founder retention, and this deal is no exception. Markus Kaiser and Daniel Winter will remain at the helm of Finmatics post-acquisition, ensuring that the company’s innovative culture and customer-centric approach continue. This continuity is essential for preserving the trust that Finmatics has built with its customers and partners. The founders’ leadership will also be crucial in driving future product development and integration efforts across Visma’s broader portfolio.

Markus Kaiser, with his deep technical background and visionary leadership, has been instrumental in shaping Finmatics’ growth, guiding the company from a startup to a leading player in AI-powered accounting solutions. Daniel Winter, as the CTO, has focused on developing the cutting-edge machine learning and OCR technologies that underpin the company’s product offerings.

Their partnership has allowed Finmatics to remain highly adaptable and focused on its core mission—providing intelligent automation solutions for accounting professionals. Their continued leadership post-acquisition will not only preserve the entrepreneurial spirit that has driven Finmatics’ success but also facilitate the seamless integration of their technology within Visma’s larger portfolio. This is a critical factor in ensuring that Finmatics can continue innovating and delivering value to its customers while scaling its operations globally.

Financials and Deal Structure

While the exact financial terms of the deal have not been disclosed, industry analysts estimate the transaction’s value to fall between €30M and €50M. This estimate is based on Finmatics’ market position, its established user base, and the proprietary nature of its AI technology.

The deal structure is expected to follow Visma’s usual approach—semi-autonomous integration. Finmatics will retain its brand, operational independence, and team, while benefiting from Visma’s infrastructure, sales channels, and technical support. This “best-of-both-worlds” model enables Finmatics to scale quickly, while Visma can integrate its technology into its larger platform and accelerate go-to-market efforts. This approach has proven successful in Visma’s previous acquisitions, where the company preserved the autonomy of its acquired firms while driving synergies through infrastructure and platform integration.

Competitive and Market Implications

Visma’s acquisition of Finmatics underscores several key trends in the European B2B SaaS and fintech markets:

AI as Infrastructure

The deal highlights the growing importance of AI-powered automation in accounting. It validates the transition of AI from a peripheral tool to core infrastructure, especially for document processing and compliance tasks. Companies that can integrate intelligent engines into their financial workflows are positioned to lead in a market where regulatory complexity and the demand for real-time reporting continue to rise.

The Rise of Vertical SaaS Aggregation

Visma’s strategy aligns with the broader trend of vertical SaaS aggregation, where large players acquire specialized solutions to address specific industry needs. This trend is evident as companies like Visma, Exact, and Sage shift from organic innovation to strategic acquisitions, focusing on specialized tools that offer embedded compliance and country-specific functionality. This model positions these players to dominate regional markets, where local knowledge and regulatory expertise are crucial.

Early Movers Will Dominate

By consolidating its position in the DACH region, Visma is solidifying its first-mover advantage. This early dominance in AI-powered accounting automation allows Visma to cross-sell products, create bundled offerings, and drive customer retention within a unified platform. Competitors relying solely on horizontal, generalist tools or legacy ERP systems may struggle to keep up as Visma builds a comprehensive suite of solutions designed specifically for the region’s accounting needs.

Founders’ Vision and Future Role

In the aftermath of the acquisition, Markus Kaiser emphasized that the partnership with Visma would allow Finmatics to accelerate its mission of making accounting “as intelligent and effortless as possible.” The founders’ vision of transforming accounting processes aligns closely with Visma’s long-term strategy of delivering AI-powered, automated solutions at scale. Both Kaiser and Winter will continue to play an instrumental role in shaping Finmatics’ product roadmap and integrating its technologies into Visma’s broader portfolio.

Their leadership will also be vital in maintaining the unique culture of innovation and customer-centricity that has characterized Finmatics since its founding. By working closely with Visma’s leadership team, Kaiser and Winter will ensure that Finmatics remains at the cutting edge of accounting automation technology, while continuing to meet the evolving needs of its clients in Austria, Germany, and beyond.

Conclusion: A Signal Deal in the New Era of Accounting

Visma’s acquisition of Finmatics is emblematic of a larger trend in Europe’s digital transformation journey. By tapping into the growing demand for AI-powered, compliance-focused accounting automation, Visma is positioning itself as a leader in the future of finance. The deal marks a new chapter for both companies, as Visma gains access to Finmatics’ innovative AI technology while preserving the entrepreneurial spirit and customer-centric focus that has fueled its growth.

As regulatory pressures intensify and the demand for smarter financial workflows grows, this acquisition is likely to become a key benchmark for future M&A activity in the accounting and fintech sectors. The combination of Visma’s regional expertise and Finmatics’ cutting-edge AI-driven automation will have far-reaching implications for accounting firms, SMEs, and financial institutions across Europe.