Dext Software Limited
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Dext Software Limited - overview
Established
2010
Location
London, -, UK
Primary Industry
Software
About
Dext Software Limited, based in London, UK, specializes in bookkeeping automation, providing digital solutions that help businesses streamline financial processes and efficiently manage expense and invoice records. Dext Software Limited is focused on delivering bookkeeping automation solutions that assist businesses and accountants in managing financial documentation. Founded in 2010 in London, UK, the company has undergone a strategic shift toward enhancing its product offerings. The founder, Alexis Prenn, has a history in the tech sector, and currently, Ervin Papa and Sabby Gill serve as CEO and key executives.
Dext has successfully completed 7 funding deals, with the most recent being an Add-on Trade Sale in December 2024, where IRIS Software Group Limited acquired the company for GBP 500 million. Overall, Dext has raised a total of GBP 15. 6 mn in funding. Dext offers a comprehensive bookkeeping automation platform designed for businesses, bookkeepers, and accountants.
This platform enables users to capture, automate, and manage expense and invoice records efficiently. Users can scan receipts, email invoices, and fetch bank statements, automatically digitizing and categorizing these documents for integration into various accounting software. Dext serves a diverse client base, comprising over 700,000 customers, and operates in regions including the UK, US, Canada, Australia, and various European countries, facilitating streamlined financial operations across multiple sectors. In the most recent year, Dext reported a revenue of GBP 43,714,843.
10, along with an EBITDA of GBP -15,403,540. 70, reflecting the company's financial performance in its operational activities. Looking ahead, Dext is set to expand its product offerings and market reach. The recent acquisition by IRIS Software Group Limited aims to enhance its capabilities and expand its geographic footprint.
The funding from this acquisition, amounting to GBP 500 million, will support new product designs and market entry strategies. Dext is targeting further growth in the North American and Asian markets, with plans to launch additional features and enhancements in 2025 to meet the evolving needs of its client base.
Current Investors
Hg, Insight Partners, Kennet Partners
Primary Industry
Software
Sub Industries
e-Financial, Accounting/Finance Software
Website
www.dext.com
Verticals
Artificial Intelligence, Cloud Computing, FinTech, Mobile Apps
Total Amount Raised
Subscriber access only
Dext Software Limited - financials
| Fiscal Year Ended | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|
| Revenue (USD) | 18,619,036 | 28,537,429 | 34,053,726 | 27,879,410 | - | - | - |
| % Revenue Growth (YoY) | - | 53.3% | 19.3% | (18.1%) | - | - | - |
| EBITDA (USD) | (17,249,645) | (11,376,008) | (11,999,310) | (16,858,606) | - | - | - |
| Operating Income (USD) | (17,494,101) | (11,799,462) | (12,699,257) | (16,984,921) | - | - | - |
| Operating Margin | (94.0%) | (41.3%) | (37.3%) | (60.9%) | - | - | - |
| % EBITDA Margin | (92.6%) | (39.9%) | (35.2%) | (60.5%) | - | - | - |
| NET Income (USD) | (17,145,827) | (12,262,059) | (12,527,604) | (16,031,892) | - | - | - |
| % Net Margin | (92.1%) | (43.0%) | (36.8%) | (57.5%) | - | - | - |
Dext Software Limited - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on, Trade Sale | Completed | Dext Software Limited | - |
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