Software and services-focused private equity house Hg has made a majority investment in financial automation and B2B payments software business Serrala.
Existing private equity backer Waterland will remain a significant minority shareholder in the business.
Serrala provides software solutions for financial automation and B2B payments to medium-sized to large Enterprise customers globally, and says it has a “strong footprint” across Europe and the US.
Hg partner Stefan Margolis said, “Serrala is an ambitious, global financial software business, offering truly differentiated SaaS solutions into the ‘Office of the CFO’.
“Hg has been investing in this sector for decades and recognises Serrala’s huge potential to continue this growth trajectory.”
Hg sealed more than $11bn of new capital last year through a stunning triple fundraise which saw all three vehicles hit their hard caps.
The firm hauled in $4.85bn for its second Saturn fund, three times as much as the £1.5bn it collected for its debut fund in the series two years ago. It also picked up €4.4bn for its Genesis 9 fund and €1.3bn for its Mercury 3 vehicle.
Other recent deals from the firm include agreeing to sell workforce management software provider Allocate to RLDatix in a trade deal in June, seven years after taking the company private from the London Stock Exchange.
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