🇮🇸 🇳🇴 Norwegian software giant Visma aquires Icelandic company Payday

By Elías Thorsson - August 17, 2023
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Profile photo of Nebojsha Mihajlovski
Nebojsha Mihajlovski, Executive Chairman at Visma-owned PowerOffice, and incoming Chairman of Payday. Photo: Linkedin

Norwegian software company Visma has purchased the Icelandic high tech startup Payday for an undisclosed fee, according to a press release.

Payday was founded in 2017 and offers cloud accounting, payroll and invoicing to smaller businesses. Furthermore, Payday integrates with Icelandic banks, tax authorities, as well as e-commerce services such as WooCommerce and Shopify.

“We are very pleased to welcome Payday to the Visma family, and at the same time announce our first market entry in Iceland. The Payday team has developed an extraordinary product with top-class functions and capabilities, making it easy to see why they are winning over more and more customers”, says Nebojsha Mihajlovski, Executive Chairman at Visma-owned PowerOffice, and incoming Chairman of Payday.

With the purchase Visma is now operating in all the Nordic countries. According to the press release, Payday will continue to operate as an independent company, under the same management.

Payday has plans to utilize AI solutions on its platform for expense management and reconciliations.

“From the very first day, our primary objective has been to reduce our customers’ administrative trouble. They have rewarded us with invaluable feedback as well as recommending Payday to their colleagues, further contributing to our growth. This continuous improvement process is entering a new and exciting chapter, as we join the strong Visma family”, says Björn Hr Björnsson, founder and CEO of Payday.

About Visma
Visma is a leading provider of mission-critical cloud software, with revenue of € 2.06 billion in 2022, 14,500 employees and 1.6 million customers across Europe and Latin America. By simplifying and automating the work of businesses and organisations of all sizes, we enable a more efficient and prosperous society.