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Visma expands its offering in corporate cash management solutions with the acquisition of Avalosys

Press release -

Visma expands its offering in corporate cash management solutions with the acquisition of Avalosys

The innovative Finnish multi-banking software provider Avalosys Oy (Avalo) joins Visma to strengthen the joint offering in ERP and bank independent cash management software. Both companies are well-established Fintech experts and their future-proof cloud services will bring unique value to the fast-growing customer base.

Avalo is a multi-bank software company developing automated payment solutions for companies and public administration organizations. Avalo has based its strategy on SME and corporate customer excellence and building true win-win industry partnerships with ERP solution providers, banks, and accounting firms. Avalo employs a total of 10 people in Tampere and Espoo.

"Over the six years of our existence, we have maintained momentum in our cutting-edge in-house innovation, whilst continuously listening to our customers and partners in co-creating solutions that integrate perfectly to their platforms and deliver strategic fit with their payments automation paradigms. With Visma we will have more muscles to co-create and innovate together and to scale across the Nordic countries and beyond", says Antti Pirhonen, Managing Director of Avalo.

We are delighted that Avalo is becoming a part of the Visma family. Their solutions will complement and enhance Visma’s payment solutions to our customers. Furthermore, we see good opportunities for collaboration with Visma companies, which will help to catalyze Avalo’s growth further in the future”, says Liv-Kari Kroken, Visma Segment Director, Invoice Lifecycle Management.

"Our future looks very bright”, concludes Antti Pirhonen: “Our strategic compass is well aligned with Visma about global megatrends: increase in financial services outsourcing, formation of service centres and centralized financial hubs as well as API-tisation of ERP solutions.”

For more information, please contact:

Liv Kari Kroken, Visma Segment Director, Invoice Lifecycle Management, +47 975 17 118

Antti Pirhonen, CEO, Avalo, +358 50 364 6160

Avalosys Oy (Avalo)

Avalo is a rapidly and profitably growing innovative Finnish banking solutions provider founded in 2015. Avalo's passion is to assist companies, public sector organisations, financial management service centers and ERP software houses in their automation of payment processes and implementation of challenging software integrations. With the industry and ERP independent AvaloCloud service, customers can reach not only banks but also the services of e-invoicing operators and the Incomes Register. www.avalo.fi

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Visma is a leading provider of mission-critical business software for a more efficient and resilient society. By simplifying and automating the work of companies and organisations of all sizes, we improve people's everyday lives. With 14,000 employees, 1,135,000 private and public sector customers across the Nordics, Benelux, Central and Eastern Europe and Latin America, and net revenue of €1,741 million in 2020, we are committed to making tomorrow better than today. Visit us at visma.com.

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Aase Settevik

Press contact Director of Brand & Communication +47 920 49 559

Shaping the future of society through technology

Visma is a leading provider of mission-critical business software for a more efficient and resilient society. By simplifying and automating the work of companies and organisations of all sizes, we improve people's everyday lives. With 15,000 employees, 1,200,000 private and public sector customers across the Nordics, Benelux, Central and Eastern Europe and Latin America, and net revenue of € 2,081 million in 2021, we are committed to making tomorrow better than today. Visit us at visma.com.