German payments software firm, Serrala, has been put up for sale. Serrala is a global financial automation and B2B payments software company that creates secure payment capabilities worldwide for enterprises of all sizes. The company is known for providing automated supplier evaluation and management, invoice processing, and payment management, enabling tight end-to-end security and fraud prevention.
According to reports, Serrala’s private equity owner Waterland hopes to benefit from high sector valuations. Reports also have it that a stake in Serrala which could be either a minority or majority is now up for sale and will be used to fund investment in future growth following a string of acquisitions. The Dutch Buyout Group has sent out information packages to prospective buyers. This is for the financial automation software, which could be valued at significantly more than £1 billion ($1.2 billion) on sales of £120 million this year.
The company was founded in 1984 by software entrepreneur Hans Herbert Lindemann, the father of incumbent Chief Executive Officer Sven Lindemann. It went by the name Hanse Orga Group before it was rebranded in 2018 to Serrala. The name ‘Serrala’ was inspired by the Sierra de la Serrella, a powerful mountain range in Spain symbolizing solidity, and conveying confidence and security. The name originates from Sven Lindemann’s belief that no problem is too large to solve. One of Serrala’s missions was bringing clarity to complexity. A Hindi dimension was also accorded to the name; as Saral means simple in Hindi. The name ‘Serrala’ reflects the company’s values, expresses the diversity of their people and demonstrates the company’s enterprising nature more than its old name did, according to CEO Sven Lindemann.
Apart from rebranding, the company also launched a new cloud solution for cash visibility, accounts payable processing, and accounts receivable automation. It also offered white-labeled solutions to banks. Serrala makes software that manages all inbound and outbound payments, treasury processes as well as related data and documents in any IT landscape for corporate customers. The fintech company employs more than 700 staff, supplying 2,800 customers including 25% of the Fortune Global 100 companies.