• Sellsy, a France-based provider of customer relationship management (CRM) and financial management system (FMS) platforms for SMEs, acquired RocketChart, a cash management platform, for an undisclosed amount.

• The acquisition allows Sellsy to strengthen its existing suite by integrating with RocketChart’s proprietary technology and is the first investment made by the company since its EUR 55 million fundraiser in January 2022. Post acquisition, RocketChart’s team will join Sellsy and is expected to carry on with the development of its product.

• The company also reported that the cash management solution will be sold as an add-on service to existing Sellsy customers, and it plans to deploy it across ~1,000 companies over a two-year period.

• Founded in 2020, France-based RocketChart offers a visual and automated cash-flow management solution featuring forecasting, liquidity management, budgeting, and reporting. It is a part of Sellsy’s ecosystem at present and reportedly has shared customers. 

<ul><li> Analyst QuickTake: In conjunction with its fundraising in January 2022 , Sellsy announced its intent to become the “leading European CRM and FMS software suite for SMEs”. The company intends to execute its global growth strategy by strengthening its product portfolio via acquisition of complementary products, with a focus on payments, marketing, and FMS solutions; the plan was set in motion with the acquisition of RocketChart by broadening its service offerings.</ul>