-54%

est. 2Y upside i

FinTechSeries B

Rank

#1651

Sector

Financial Software

Est. Liquidity

~2Y

Data Quality

Data: Medium

Silverfin, acquired by Visma for €300M in September 2023, offers moderate upside for a job seeker.

Last updated: March 10, 2026

Bull (35%)+150%

Silverfin's innovative platform, especially its AI capabilities like Ludwig Assistant, becomes a cornerstone of Visma's cloud accounting offerings, driving significant cross-selling opportunities and market share expansion across Europe. This could push Silverfin's internal valuation within Visma to €750M (2.5x the acquisition price) within two years.

Base (45%)+30%

Silverfin successfully integrates into Visma, maintaining its strong position in accounting workflow automation and practice management. It continues to grow steadily at a healthy rate, contributing to Visma's overall revenue, leading to an internal valuation of €390M (1.3x the acquisition price).

Bear (20%)-30%

Integration challenges with Visma's existing portfolio, increased internal competition, or a slowdown in the broader financial software market hinder Silverfin's growth. Key talent might depart, leading to a stagnation or slight decline in its internal valuation to €210M (0.7x the acquisition price).

Est. time to liquidity~2.0 years

Preference Stack Risk

moderate

Investors hold $34M in liquidation preferences. At the €300M (approx. $325M) acquisition valuation, this represents about 10.5% of the total value.

Dilution Risk

low

Post-acquisition by Visma, Silverfin is unlikely to raise further external venture rounds, significantly reducing future dilution risk.

Secondary Liquidity

limited

Secondary liquidity would depend on Visma's internal policies for employee equity or a future Visma IPO.

View all 14 open roles at Silverfin →

Last updated: February 18, 2026

Questions to Ask at the Interview

Strategic questions based on Silverfin's data — designed to show you've done your homework.

  • 1

    “How is Silverfin's product roadmap being integrated into Visma's broader strategy, particularly regarding AI capabilities like Ludwig Assistant, and what are the key performance indicators for Silverfin's success within the group?”

  • 2

    “Given Silverfin's strong historical growth (104% CAGR), what are the specific strategies Visma is implementing to maintain or accelerate this trajectory, especially in new geographic markets or customer segments?”

  • 3

    “Could you elaborate on the structure of the equity grant (e.g., Visma shares, phantom equity tied to Silverfin's performance) and the expected timeline for any potential liquidity events for Visma, such as the rumored IPO?”

Community

Valuation Sentiment

Our model estimates -54% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.