Israeli Fintech Morning Acquired by Italy's TeamSystem for 50 Million

2024-12-21

In a significant deal, the Israeli fintech company Morning, renowned for its “Green Invoice” platform, has been acquired by Italy’s TeamSystem for an estimated $150 million. This acquisition marks a major success for the company’s founders, Lior Wilczynski and Rami Gabai, and the Fortissimo investment fund.

Morning, founded in 2011, provides a SaaS platform for invoicing and business management specifically tailored for small businesses. The company gained traction with its “Green Invoice” solution, offering innovative and user-friendly tools for entrepreneurs.

This acquisition is particularly lucrative for the founders, who each own 30% of the company’s shares and are set to receive approximately $45 million each. Fortissimo, which invested $20 million in Morning in 2021, will also reap substantial returns.

Morning has focused on the Israeli market, unlike many Israeli fintech companies that prioritize international expansion. The company boasts 150,000 customers and employs 100 people in Israel.

TeamSystem, the Italian acquirer, is a leading provider of business management solutions for small and medium-sized enterprises, making it a suitable partner for Morning’s continued growth.

What Undercode Says:

This acquisition highlights several key trends in the fintech and technology sectors:

Focus on Small and Medium-sized Enterprises (SMEs): The increasing focus on serving the needs of SMEs is evident in this deal. Both Morning and TeamSystem cater to this crucial segment of the market, recognizing the growing demand for efficient and user-friendly business management tools.

The Power of Niche Solutions:

The Importance of Strong Founding Teams: The significant returns for the founders underscore the importance of a strong and dedicated founding team in driving company success. Wilczynski and Gabai’s vision, expertise, and perseverance played a crucial role in building Morning into a successful company.
The Role of Strategic Acquisitions: This acquisition demonstrates the strategic value of acquisitions in driving growth and expanding market reach. TeamSystem’s acquisition of Morning allows them to enhance their product offerings and expand their presence in the Israeli market.

This deal serves as a positive example for Israeli startups, showcasing the potential for significant returns and demonstrating the value of focusing on specific market needs and building strong, enduring relationships with customers.