TeamSystem acquires Sellsy to strengthen SME software in Europe

TeamSystem has acquired Sellsy, a French provider of integrated CRM and financial management software for small and medium-sized enterprise clients.

The acquisition, which follows TeamSystem's earlier purchases of Clémentine and ClicData this year, is set to bolster TeamSystem's presence in both France and Spain, with Sellsy operating in Spain through subsidiaries such as Quipu.

Founded in 2009 and headquartered in La Rochelle, Sellsy delivers a so-called Lead-to-Cash solution to more than 23,000 clients, integrating CRM, e-invoicing, pre-accounting, cash flow management and marketing automation within a single cloud-based environment. The company employs over 180 people, with 78 in product development and research roles.

Sellsy has been registered as a certified platform under review by the French tax administration for the upcoming mandatory e-invoicing reform, which is expected to commence in 2026. This status is set to help SMEs in France comply with new financial reporting obligations.

European growth strategy

TeamSystem's recent acquisitions form part of a wider strategy to expand its footprint across Europe and the Mediterranean and to reinforce its market position in business digitalisation solutions for SMEs and professionals.

Sellsy's platform offers micro and small enterprises a range of tools designed to simplify business processes and boost growth. Sellsy's integration will add AI-powered business intelligence features for TeamSystem clients, including data integration, smart dashboards and automated insights.

"Welcoming Sellsy into our group represents another step forward in our international growth journey, which we have been pursuing with determination for some time. Its technologically advanced solutions, natively equipped with AI functionalities, are aligned with our vision: to offer intelligent, comprehensive digital platforms that go beyond software, designed to provide concrete support to micro and small businesses," Federico Leproux, CEO of TeamSystem, commented.

"This acquisition confirms our commitment to building a strong and connected European ecosystem, capable of supporting professionals and businesses in their digital transformation, simplifying daily operations, and generating new value."

TeamSystem's approach is to provide an ecosystem where complexity is handled in the background, giving users a more accessible and unified interface. The company states that Sellsy's focus on micro and small business clients aligns with this philosophy.

Sellsy management and investor changes

Sellsy's existing management team will continue to lead the business within the TeamSystem group. PSG Equity, which supported Sellsy's growth through its PSG Europe I Fund, will exit its investment.

"With PSG's support, we believe Sellsy has embarked on a truly transformative journey, combining strong organic growth with targeted M&A to become a leading provider of business management solutions for SMEs in France and Spain. Today, we are excited to continue this journey within the TeamSystem ecosystem, as we aim to pursue our shared ambition of building the leading European platform for SME management software," Victor Douek, CEO of Sellsy, said.

Executives from PSG Equity commented on their involvement and the transaction's outcomes.

"PSG Equity is pleased to have partnered with co-founders Alain Mevellec and Frédéric Coulais, supporting Sellsy in its growth journey. The results achieved reflect the vision of Victor Douek and his team in developing a lead-to-cash platform that provides strong support to European SMEs. We are confident that, thanks to this transaction, Sellsy is well-positioned to continue strengthening its position, benefitting from the know-how and international experience of a group like TeamSystem," Christian Stein, Managing Director at PSG Equity and Alexandre Berenga, Director at PSG Equity, added.

Advisors and regulatory requirements

During the transaction, TeamSystem received corporate finance advice from Mediobanca, with EY providing support on finance, tax, and human resources, and legal advice from Herbert Smith Freehills Kramer. Sellsy received advisory support from Houlihan Lokey, Alvarez & Marsal, and legal counsel from Weil and Orrick.