Interview Merete Hverven - CEO Visma

Visma is one of Europe’s leading providers of mission-critical business software, with over €2.4 billion in revenue in 2023, 1.7 million customers, and 15,000 employees. Under the leadership of Merete Hverven, the company has experienced spectacular growth, rising from a valuation of approximately €1 billion in 2011 to €19 billion by the end of 2023. Its business model is based on software essential to the day-to-day management of businesses and government agencies: invoicing, payroll, accounting, administrative automation, and financial management. This focus on essential needs makes the business particularly resilient, even during economic slowdowns. The support of Hg, a private equity fund specializing in software, has been instrumental in this trajectory. Since Visma’s delisting in 2006, Hg the company in its international expansion, acquisitions, organizational restructuring, and long-term strategy. Its sector expertise, network, and benchmarks from other software companies serve as a powerful growth driver. Visma combines organic growth with external growth. The company invests approximately 20% of its revenue in R&D and has completed more than 300 acquisitions, including about 150 since Merete Hverven became CEO. France is now one of its strategic markets, with new acquisitions planned.The company is also heavily investing in artificial intelligence to improve its products, further automate administrative tasks, and increase the efficiency of its teams. While an initial public offering remains a possibility in the long term, Visma currently retains the benefits of long-term private ownership, which allows it to consistently invest in growth, innovation, and international expansion.