Avolta is proud to announce it has advised Libeo, the French AI-powered platform for expense and supplier invoice management, on its sale to Shine (Cegid), the administrative and financial copilot for SMEs and their accountants.
The transaction is part of Shine (Cegid)’s strategy to cover the entire value chain of administrative and financial management for SMEs and their accounting firms. Where Shine (Cegid)’s existing products cover the core of financial management, with a business account, e-invoicing and accounting, Libeo strengthens the purchasing cycle: expense capture and control, approval workflows and payment, with AI-assisted controls. Libeo also brings specific expertise in serving SMEs, in particular across retail, hospitality, construction and healthcare.
A pioneer in business-to-business payments in France, Libeo supports close to 3,000 companies, including McDonald’s, Carrefour and Monoprix franchisees, alongside leading accounting firms such as Forvis Mazars and Baker Tilly. With 36% year-on-year growth and more than €10bn of invoices processed to 400,000 suppliers, the company has been profitable since 2025.
The entire Libeo team and its two co-founders join Shine (Cegid), with a firm commitment to Libeo customers that nothing changes: same product, same team, same terms. The transaction amount is confidential.
About Libeo
Founded in 2018 by Pierre-Antoine Glandier, Jérémy Attuil and Pierre Dutaret, and today led by Pierre-Antoine Glandier and Jérémy Attuil, Libeo provides SME executives, finance directors and accounting firms with an AI-powered solution, compliant Shine (Cegid) is the administrative and financial copilot of businesses and their accountants. On a single platform, Shine (Cegid) brings together a business account, e-invoicing and accounting, making day-to-day operations easier, from getting paid to staying compliant and keeping the books, so that founders can focus on their business and accountants on their advisory role.
Following the combination of Shine and Cegid in 2026, Shine aims to cover the full chain, from the end customer’s invoice to the accounting firm’s financial statements, within a unified ecosystem. Led by Rico Adlor-Andersen, Shine today serves one million entrepreneurs and 15,000 accounting firms across France and Europe. Licensed by the ACPR, Shine has been voted Customer Service of the Year three years in a row in the online business banking category.
About Avolta.
Avolta is a leading European investment bank on Small/Mid-Cap Software and Industrial Tech deals.
Advising Libeo on its sale to Shine (Cegid) adds up to a track record built in the Financial Software space, with our Partner Alantra, including deals like:
- IS Decisions, a developer of access security software for Active Directory, on its sale to Aries Global
- Ignimission, a SaaS platform for GRC orchestration and identity security, on its growth buyout with Cervinvest Capital
- Linkurious, a French leader in graph intelligence technology used for AML and fraud detection, on its sale to Nuix Limited (ASX: NXL)
- Alobees, a pre-pay solution for the construction sector, on the sale to Traxxeo
- Sogexia, an independent digital banking platform, on the buyout with CAPZA
- Wedoogift, an employee benefit platform, on the sale to Pluxee (EPA: PLX)
- Iceberg Data Lab, a sustainability data platform for financial institutions, on its growth investment from Beringea and MAIF Avenir
- Cow Hills, a Benelux leader in Retail POS ERP, on its sale to Orisha (TA Associates, Francisco Partners)
- TradingHub, a provider of trade surveillance, anti-money laundering and financial markets analytics software, on its buyout with Summit Partners
- Dejamobile, a leader in SoftPOS, on its sale to Market Pay (AnaCap Financial Partners)
- Lendscape, a European lending as a service platform, on its buyout with Bowmark Capital
- Clearnox, a cloud order-to-cash platform, on its sale to Isabel Group
- Marlin Equity Partners on its acquisition of a majority stake in iBanFirst, the cross-border B2B payments platform
- Anytime, a leading French digital banking platform for small businesses, on its sale to Orange Bank
- Dhatim, an AI-powered accounting automation software, on its sale to Cegid
- Opencell, an agile billing platform, on its growth equity round
