Holded, the fast-growing startup offering an easy-to-use ERP dedicated to small businesses to streamline their financial and operational processes, has raised a €15M Series B to further expand its international presence and develop the product. The operation is led by the France-based European VC firm Elaia, together with Lakestar, Nauta Capital and Seedrocket – former partners of the company – who have once again placed their trust in Holded’s growth potential and consolidation in the European market, as well as in its power to accelerate the digitalization of SMBs.
Holded began as a mission to help small businesses manage their entire business operations (invoicing, accounting, sales, project management, inventory management and HR) in one place. Being a simple yet powerful cloud software, it enables business owners to automate the management of their businesses, resulting in greater peace of mind, and enabling an increased focus on crafting the best products and services. While legacy ERPs were usually dedicated to enterprises, and required extensive customization, training, and high budgets, Holded has succeeded in delighting small businesses with an easy-to-use, and affordable ERP solution, and has attracted more than 80,000 businesses to date.
NOBODY DID IT BEFORE
“We knew the idea of centralising all your business in one place was very powerful and the only reason why nobody did it before was because it’s extremely hard to design an intuitive self-serve ERP for Small Businesses, but I guess because of our passion for product design and development we managed to do it. We’ve changed the whole product and the whole experience of buying an ERP and tailored it for small businesses.” says co-founder, Javi Fondevila.
This new investment will enable Holded to grow its technology and business teams, so it can keep improving the product experience, develop its newly added fintech services, open more acquisition channels by doubling down on its product led growth strategy, helping accounting firms digitalise and become value-added resellers, and expand into more European markets. More specifically, the company plans for 2021 involve hiring 70 more people, opening an office in Paris, and attracting an additional 120,000 business accounts to its software and SMB empowerment mission.
“Simplifying is only the first step, I like to envision Holded as a trojan horse that once we get through the wall there’s so much that we can simplify, integrate and automate to really disrupt how business owners manage their businesses. They have been underserved, and we are changing it for good.” says co-founder, Bernat Ripoll.
POTENCIAL TO CHANGE AN INDUSTRY
“We strongly believe that the opportunity ahead to build solutions for small businesses is massive. In the case of ERPs, solutions tend to be very complex modular products and, as Small Businesses don’t have independent departments, they need an integrated and very intuitive solution. Most of the new ERPs are just doing the same as the incumbents but in the cloud. Holded developed the first ERP we have seen without modules, long implementation times or consultants needed, they’ve really changed the whole experience. Everything is smoothly designed and intuitive and, most importantly, it is the first ERP really thought for Small Businesses. The quality of the execution accomplished so far is truly impressive. The vision of the founding team is also a major asset to the company. We are convinced of Holded’s extraordinary potential to become a game changer in this industry.” says Pauline Roux, Partner at Elaia.