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Hg Acquires Majority Stake in E-Invoicing Provider ENTERSOFTONE at €1 Billion Valuation

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Sarah Fane
Sep 22, 2026
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European software investor Hg has agreed to acquire a majority stake in ENTERSOFTONE, a Greek ERP and digital invoicing provider valued at approximately €1 billion.

The transaction represents Hg’s first investment in a Greek-headquartered business. Existing shareholders Olympia Group and Imker Group will retain significant stakes alongside ENTERSOFTONE’s management team.

ENTERSOFTONE (ES1) was formed in 2025 through the merger of Entersoft and Softone. Headquartered in Athens, the company operates across Greece, Romania, Bulgaria and Cyprus and serves more than 90,000 clients.

Its software portfolio includes ERP, CRM, retail, warehouse management, e-commerce, HCM and payroll, as well as electronic invoicing. The company has established a leading position in the Greek ERP and digital invoicing market.

The investment comes as Greece moves towards mandatory B2B e-invoicing under the country’s myDATA framework. This is increasing demand among small and medium-sized businesses for software that can support digital invoicing and compliance requirements.

The development also reflects a wider European shift towards structured electronic invoicing, as EU Member States introduce national mandates and prepare for the VAT in the Digital Age reforms.

Hg plans to support ES1’s transition to cloud-based services, further product development and expansion into neighbouring markets. Hg Catalyst, the investor’s in-house AI product incubator, will also work with the company on AI-powered products across its platform.

Antonis Kotzamanidis, CEO of ES1, said: "ES1 was built to be Greece's business software champion, and this partnership gives us the resources to go further and faster. Hg understands ERP at a level few investors do, and that will give us a real advantage as we build new products and push deeper into AI."

Alexandre Flavier, Partner at Hg, said: "Antonis and the team have built an outstanding tech platform with a genuine head start in e-invoicing and innovative products loved by its customers. This investment reflects our confidence in the Greek market and our commitment to building an enduring, AI-enabled software champion in the region.”


Source: Entersoftone