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<\/a><\/a>\nShine \u2013 a fast-growing European fintech unicorn providing electronic invoicing, accounting, business accounts, and payroll software to small and medium-sized businesses across Europe \u2013 brings more than 400,000 SMB customers, a strong brand, and a scalable technology stack, expanding Cegid\u2019s reach in key European markets. The consolidated group will serve more than one million SMBs and 15,000 accountants across France, Germany, Spain, Portugal, Denmark, the Netherlands and Belgium.<\/p>
\nShine\u2019s combination with Cegid and its full ecosystem represents the formation of Europe\u2019s first 100% cloud-based financial platform, equipped with native AI and designed end-to-end for SMBs and accounting firms. Built on Cegid\u2019s leadership in cloud and AI, this unique, fully compliant and connected platform brings together leading capabilities in e-invoicing, accounting, payment solutions, payment cards and associated business accounts, tax, HR, payroll and reporting. These capabilities position SMBs and accountants for Europe\u2019s mandatory e-invoicing and digital reporting reforms while helping accounting firms reduce operational complexity and increase productivity to allow them to focus on what matters most: delivering higher value-added services to customers and growing their business.<\/p>
\nThe new combined unit within Cegid dedicated to the SMB market and accounting firms, comprising 2,300 employees, will be led by Rico Adlor-Andersen, co-founder of Shine.<\/p>
\n\u201cFrom the creation of Shine to its growth into a leading European unicorn, our mission has always been the same: to radically eliminate complexity for entrepreneurs. With Cegid, that mission takes on a whole new dimension. Today, we are bringing two category leaders together to create Europe's first truly unified financial hub, serving millions of SMBs and their accountants. This is a decisive milestone in the achievement of our vision and the beginning of a new ambition at a European scale,\u201d comments Rico Adlor-Andersen, co-founder of Shine.<\/p>
\n\"The completion of this combination is a landmark moment for Cegid and for the millions of small businesses and accountants we serve across Europe. By uniting Cegid's cloud and AI leadership with Shine's innovative digital finance platform, we have created a truly unique offering, Europe's first unified financial hub built to simplify the lives of entrepreneurs and empower the accounting profession. As mandatory e-invoicing and digital reporting reshape the European landscape, this platform positions our customers to turn regulatory change into a growth opportunity. Cegid is a business of exceptional quality, and that quality is what makes a transaction like this possible in an environment where financing markets for software companies have been sluggish. Silver Lake\u2019s role is to back great companies with conviction and the resources to grow, and we are proud to do exactly that here in partnership with the Cegid and Shine teams as they continue building one of Europe's defining technology companies,\" comments Christian Lucas, Chairman of Cegid and Managing Partner at Silver Lake.<\/p>
\n\u201cThis acquisition complements our portfolio and reinforces our commitment to serving businesses of all sizes, enabling them to be more agile in their financial and HR management. For the SMB and accountant services market, the integration of Shine marks a decisive step in Cegid\u2019s ambition to become Europe's leading financial copilot for SMBs and accountants. Now more than ever, we are reaffirming our mission and our unwavering commitment\u2014established over 40 years ago\u2014to accountants and businesses. Cegid will help them take advantage of the huge opportunities offered by the digital transformation of the coming decade,\u201d concludes Bruno Vaffier, Cegid General Manager.<\/p>
\nThe transaction was financed through Cegid\u2019s operating cash generation and a new \u20ac1.1 billion financing facility provided by leading direct credit funds, following an innovative two-step financing process with prior underwriting by Citibank, J.P. Morgan, RBC Capital Markets, and UBS. This represents one of the most significant software financings completed in the European market in recent months, executed via a structure that reflects both the strength of Cegid\u2019s business fundamentals and the depth of its relationships across the global credit investor community.<\/p>
\nAbout Shine<\/b><\/p>
\nFounded by serial entrepreneurs Rico Adlor-Andersen and Martin Hegelund, Shine's vision is to restore the joy of running a business, by ending wasted time on financial admin. Shine offers a \u2018financial copilot\u2019 by integrating its solutions into a single platform for invoicing, accounting, payroll, business accounts and payments, and financing. Shine is a leading European fintech unicorn, operating across France, Denmark, the Netherlands, and Germany, serving over 400,000 customers. Shine France is regulated as a payment institution by the Autorit\u00e9 de contr\u00f4le prudentiel et de r\u00e9solution (ACPR) and was recognised as \u201cBest Business Bank\u201d by ESCDA in 2024, 2025, and 2026.<\/p>
\nAbout Cegid<\/b><\/p>
\nCegid is a European leader in cloud management solutions for professionals in the Finance (treasury, tax, ERP), Human Resources (payroll, talent management), Accounting, Retail and entrepreneurship sectors. With a solid full-cloud business model, Cegid is committed to the long term with its customers and supports the digitalization of companies, from small businesses to large accounts, for a superior, distinctive and memorable experience in France and abroad. Cegid combines a forward-looking and pragmatic vision of the business, a strong capacity for innovation, mastery of new technologies such as artificial intelligence and a unique knowledge of regulations. In a rapidly changing world, Cegid opens up possibilities and reveals the full value of its customers\u2019 businesses by providing useful and innovative solutions.<\/p>
\nWith its international ambitions and more than one million customers, Cegid now has more than 5,000 employees and sells its solutions in 130 countries. Cegid generated annual revenue of \u20ac1,069 million (as of December 31, 2025).<\/p>
\nMore information: www.cegid.com<\/a><\/p> \nPR contacts:<\/b> \nShine \u2013 agence Hodos<\/b>