Sellsy, a France-based provider of customer relationship management (CRM) and financial management system (FMS) platforms for SMEs, announced that it had acquired Quipu, an invoicing and pre-accounting firm for an undisclosed amount. 

Quipu is a Spanish SaaS platform that provides an online billing platform for pre-accounting, payment, invoicing, and bank synchronization tools for SMEs, accountants, and self-employed workers. The firm's platform can be integrated with leading payment platforms, including Stripe and PayPal as well as ecommerce platforms such as Shopify and Woo-commerce  The firm claims to be a leader in the Spanish market and caters to more than 8,000 customers. 

The acquisition of Quipu is expected to help Sellsy accelerate its growth in Spain, leveraging Quipu’s expertise in pre-accounting in Spain to develop new functionalities to meet the CRM needs of Spanish SMEs.

With the acquisition, Sellsy also grew its customer and employee count to 15,000 customers and 200 employees as of the end of 2022 with an operational presence in both France and Spain. 

Analyst QuickTake: This is the second acquisition made by Sellsy in 2022, the first being RocketChart ,  a cash management platform. The acquisitions are in line with Sellsy’s global growth strategy by strengthening its product portfolio via the acquisition of complementary products where payments and financial management solutions were identified as key focus areas for the firm.