Founded in La Rochelle, France, Sellsy has completed a 55 million euros fundraising led by US fund Providence Strategic Growth (PSG). With this new funding, Sellsy now plans to accelerate its European expansion to become the leading European CRM software provider in the coming years.

The French software publisher is positioned in markets that are supposedly well addressed but offers a specific differentiating factor: "Since our launch in 2009, our positioning has not changed. We offer an integrated CRM solution combining both management of the marketing functions as well as sales management, up to billing and cash flow management,” explains Victor Douek, Sellsy Co-CEO. "We target SMEs, which unlike larger corporates, do not need best-of-breed brick systems, and do not have the competencies to integrate them and manage their complexity. Hence the idea of offering an integrated all-in-one solution that is easy to use for them."

A winning strategy considering Sellsy has enjoyed 90% growth over the past three years. To date, the company serves over 6,000 customers (representing 35,000 users), with an average spend of 100 to 150 euros per month. "Our short-term target is to confirm our leadership in France where our growth potential remains significant. Less than 20% of SMEs are equipped with CRM software. And the segment is growing by 20% per year", underlined Victor Douek.

In the meantime, Sellsy plans to step up its R&D investments. Among the projects planned, the company aims to develop more marketing automation features, or to launch an e-wallet designed to manage open banking transfers to complete its existing integrated payment services (Atos, GoCardless, Paypal, Stripe).

Further out, Sellsy plans to embark on its international expansion plan by the end of 2022. "We will start with Germany, Spain, Italy and perhaps even the UK” anticipates Victor Douek who sees the opening of local offices as “very likely”. To roll out this ambitious roadmap, Sellsy which currently has over 100 employees, plans 75 new hires for 2022, including 30 specifically for R&D. The company targets 300 employees by 2025 to support its growth in Europe.