Cegid has signed a definitive agreement to acquire fintech unicorn Shine, paving the way for what both companies call Europe’s first fully integrated, cloud-native, AI-powered financial hub for small and medium-sized enterprises (SMEs) and accountants. The value of the transaction remains undisclosed and is subject to regulatory approvals.
Once completed, Shine will join Cegid’s Small Business division as a core driver of its European growth strategy. Cegid-already a major provider of cloud solutions for finance, HR, accounting, retail, and business management—will absorb Shine’s rapidly expanding fintech ecosystem, which includes digital business accounts, payments, e-invoicing, accounting software, and payroll tools for SMEs across Europe.
Shine contributes more than 400,000 SME customers, a strong brand, and a scalable technology stack. Combined, the new group will serve over one million SMEs and 15,000 accounting firms across France, Germany, Spain, Portugal, the Netherlands, Denmark and Belgium.
According to Cegid, the merger will create a unified platform that brings together e-invoicing, accounting, payroll, business accounts and payments, taxation and reporting—all reinforced by AI-driven automation. The goal is to drastically reduce administrative burdens for small businesses, improve collaboration with accountants, and prepare companies for upcoming mandatory e-invoicing and digital reporting rules across Europe.
The transaction also strengthens Cegid’s broader strategy, following its recent acquisitions of Primavera and Sevdesk. Shine’s capabilities in digital accounts, payments, cards, and financial services will be central to expanding Cegid’s integrated financial offering across Europe.
Accounting and tax professionals remain central to Cegid’s mission. With Shine onboard, the company will enhance its tools for accountants, enabling real-time collaboration with clients and paving the way for more value-added advisory services. The platform will also support SMEs through Europe’s transition to mandatory e-invoicing, providing a fully compliant and connected environment for all financial operations.
Shine’s founders, Rico Andersen and Martin Hegelund, emphasize that the merger fulfills Shine’s core mission: eliminating complexity for businesses. “By combining the most robust business accounts and payments platform for SMEs with the most advanced accounting technology, we are creating Europe’s first truly unified financial hub,” they said.
Leaders at Cegid and its investor Silver Lake view the merger as a milestone in the company’s digital transformation journey. Jean-Michel Aulas, Cegid’s founder, highlighted that the move reinforces Cegid’s long-term commitment to accountants and the evolving needs of Europe’s SME ecosystem.
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