Visma
“Can a Nordic accounting/ERP roll-up become Europe's default embedded-finance distribution layer for SMBs?”
Founded1996
HQOslo, Norway
IndustryHorizontal SaaS / Accounting
The story
Visma grew from a Nordic ERP and accounting vendor into one of Europe's largest cloud business software groups via an aggressive M&A strategy, rolling up vertical and horizontal SaaS companies across the Nordics, Benelux and Latin America. Embedded finance has become a strategic layer on top of its core accounting/payroll footprint — card issuing via Adyen for expense management, and SMB lending via Visma Finance (with Froda Embedded) bolted onto its accounting customer base.
Last 12 months
Product timeline
2021
Partners with Adyen to roll out card issuing for embedded employee expense management across Visma brands.· card
2025
Froda Embedded partners with Visma Finance to launch invoice loans for SMBs.· lending
The stack
6 layers disclosed in Visma’s embedded-finance stack
Payments / PSP
Banking / BaaS
in the full report
Card issuing
in the full report
Lending
in the full report
Payroll
in the full report
Accounting
in the full report
Accounting gap: none
10 more providers across 5 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.