November First, a Copenhagen-based fintech company specializing in payment solutions for SMEs, has been acquired by Visma after several years of collaboration. Founded in 2016, November First’s API has been instrumental in integrating the Smart Pay feature into Visma’s e-conomic software, allowing businesses to automate supplier payments directly from their accounting systems. This acquisition is a significant step for November First, as it gains access to Visma’s broader resources and expertise. The company will continue to operate independently, with founder Mikael Langseth Nilsson remaining as managing director, aiming to expand its mission of simplifying financial processes for businesses.
November First, which was founded in 2016, has developed a payment platform that is today used in more than 1,000 Danish companies. Since 2022, Visma e-conomic and November First have worked closely together on the integrated payment solution Smart Pay, based on the API from November First, which enables e-conomic’s customers to set supplier invoices for payment directly in the accounting program without having to log in to the online bank .
“I am pleased that we are now getting November First even closer. The development within fintech is going lightning fast, and it is crucial that we are at the forefront when it comes to creating smart financial solutions that help our customers. I see great potential in November First gaining access to Visma’s resources and competences, and that we can continue our close collaboration will undoubtedly create value for our customers,” says Karina Wellendorph, managing director of Visma e-conomic.
In addition to the collaboration with November First on Smart Pay, e-conomic also has a collaboration with Aiia/Mastercard, which is a bank integration that makes it possible to reconcile bank transfers automatically. Visma made its first Danish fintech acquisition in 2022 with Pensopay, one of the leading Danish suppliers of online payment solutions.
“We have a constant focus on the opportunities within financial technology and on developing digital solutions and automation in e-conomic as well as in Visma’s other products. We consider it one of the most important areas where we can strengthen the digitization of Danish SMEs and free up time for them to use the resources to develop their business instead of heavy and time-consuming administration,” says Karina Wellendorph.
November First is one of Europe’s first financial companies with a license from the Danish Financial Supervisory Authority that is 100% cloud based. Founder Mikael Langseth Nilsson looks forward to continuing the development of the company as part of the Visma Group.
“It was a huge milestone for November First when we introduced Smart Pay together with Visma e-conomic after several years of close cooperation up to. I am convinced that we can achieve even more milestones together under the Visma umbrella with our API and look forward to continuing our joint mission to simplify the everyday life of Danish companies, says Mikael Langseth Nilsson, founder and CEO of November First.
November First currently has 20 employees in Denmark and Portugal. Since January 2024, they have had an office in Visma House in Carlsberg Byen, where they continue as an independent company in Visma with Mikael Langseth Nilsson as managing director.
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Read the orginal article: https://arcticstartup.com/november-first-acquired-by-visma/
