CIBC Innovation Banking backs Wint’s growth after Norvestor deal

CIBC Innovation Banking has provided debt financing to support the acquisition of Swedish accounting software company Wint by Norvestor.

Wint, based in Gothenburg and established in 2011, is known for its cloud-based accounting and payroll solution designed for micro and small businesses. The platform streamlines financial processes, offering functionalities such as invoicing, expense management, time and financial reporting, bookkeeping, payroll, and statutory compliance, including year-end reports and tax returns.

Following Norvestor's investment in December 2024, Norvestor IX SCSp became the majority shareholder in Wint. Alongside Norvestor, Wint's management and key employees remain significant shareholders of the company.

Market focus

Wint currently serves around 4,700 customers, providing its subscription-based solution to micro and small businesses. The company has reported continued growth, citing the growing demand among small enterprises for automated financial management tools that support operational efficiency and compliance.

Daniel Johansson, Chief Executive Officer at Wint, said the partnership and new financing positioned the company for further development and expansion. He stated:

"We are very proud of what we've accomplished with Wint so far. Currently, we serve approximately 4,700 customers and continue experiencing rapid growth. With Norvestor as our main owner and the addition in the form of a financing package from CIBC Innovation Banking, we are well-equipped to continue building our technology platform, scaling our operations, and delivering great value for our customers."

Financing support

CIBC Innovation Banking, which provides venture debt and financing services to technology and life sciences companies, supported the transaction through a specific debt financing package. The financial support will be used to help Wint develop its product and expand its presence in the target markets.

Sean Duffy, Managing Director, CIBC Innovation Banking UK & Europe, commented:

"For micro and small businesses lacking the resources of larger enterprises, organising and managing administrative tasks can be a significant challenge. Wint's solution enables these businesses to focus on their core business, and operate efficiently while ensuring compliance with necessary regulations. We are delighted to support Wint on its growth journey."

Norvestor's strategy

Norvestor, a Nordic private equity company, specialises in mid-market buyouts and has supported numerous technology businesses in the region. The acquisition of Wint forms part of Norvestor's ongoing strategy to invest in companies with potential to grow in the Nordic and international markets, either organically or through acquisitions.

Wint's platform is positioned as a solution for businesses seeking to automate financial tasks, especially those that may not have the resources for dedicated internal finance staff. This aligns with broader industry trends towards digital transformation and automation among small businesses.

Wint currently employs around 100 staff members, primarily focused on continuing development of its technology and direct customer support.