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team.blue and Hg today announce that Sofina, a family-run, global investment company listed on Euronext, has agreed to make a direct, minority investment in team.blue, Europe’s leading digital enabler for entrepreneurs and SMBs (small and medium-sized businesses).

Today team.blue represents one of the largest European digital solution providers to 3.3 million SMB customers across 22 countries. The business continues expanding its product offering to cover all end-to-end and evolving needs of customers, helping them to remain relevant, competitive and successful end-to-end in their digital journey. These solutions are designed to enhance security, ensure GDPR compliance, boost visitor attraction and conversion rates, improve customer engagement through various marketing tools, and assist in both online and offline commerce strategies.

Jonas Dhaenens, Founder and President of team.blue said: “It’s an amazing feat to bring in another highly respected investor to team.blue. We have a decades-long vision on how to stay ahead as one of the largest and most relevant European digital solution providers to SMBs. Sofina, CPP Investments and Hg are crucial, long-term investors who share this enduring vision for the business and together we’re excited for the future.”

Founded 125 years ago, Sofina is a Belgium-based investment company, with a supportive long-term vision to partner with entrepreneurs and families managing growing companies. Sofina backs innovative entrepreneurs with patient growth capital and advice to build tomorrow’s winners, with sustainability at their core. Sofina invests both directly and through Private Equity funds. Its geographical scope is Europe, the United States, and Asia.

Harold Boël, CEO of Sofina, said: “We’re very glad to accompany Jonas and team.blue in the next stage of the company’s development. This investment is a testimony of Sofina’s aim to be a relevant partner for the strongest companies, entrepreneurs and investors in our sectors and geographies of interest.”

Sofina joins CPP Investments who announced an investment in team.blue in early July, valuing the business at around €4.8bn. Hg, a leading investor in European and transatlantic software and services businesses and investor in team.blue since 2019, will remain the largest single investor in the business. President of team.blue Jonas Dhaenens and Ali Niknam will also still remain cornerstone investors alongside the wider management team led by CEO Claudio Corbetta.

Joris Van Gool, Partner at Hg, said: We warmly welcome the Sofina team. Today the business is one of the largest privately owned technology companies in Europe with an unbroken 20-year growth track record – enabling us to attract quality investors like Sofina with deep Belgian roots, a long-term growth horizon and a global track record. A huge congratulations to everyone at team.blue for achieving this recognition.”

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