Firstance acquired by Harvest

ITALY Software / Industry-Specific Software / Financial Services / Banking EV €300–700M

Context

Harvest has successfully finalized the acquisition of 100% of the share capital of Firstance, following its previous international expansion into the DACH region. The strategic rationale for this transaction is to create a unified European WealthTech champion by merging Harvest’s leading position in wealth management software with Firstance’s dominant digital distribution platform for life insurance. This alliance allows the combined entity to offer a comprehensive, cross-border technological suite to financial institutions across more than 30 jurisdictions. By entering the Italian market, Harvest significantly scales its geographical footprint and diversifies its product offering into the private insurance vertical. The integration aims to leverage human and technological synergies to meet the rising demand for sovereign European financial software solutions, providing a highly differentiated and sophisticated digital experience for wealth management professionals and their end-clients across the continent.

Firstance, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.6x in 2026).

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Target

Founded in 2010, Firstance is a premier European WealthTech platform specializing in the digital distribution of private life insurance products. The company’s business model is built on its proprietary technological suite, which automates complex subscription and policy management workflows for institutional distributors and insurance carriers. Its value proposition centers on the seamless integration of high-end financial services with digital transparency, connecting a vast network of private banks, family offices, and asset managers to leading international insurers. Strategically, the organization serves as a critical infrastructure layer in the private insurance market, managing significant assets across multiple European jurisdictions. By digitizing highly regulated financial processes, the company enables sophisticated wealth management professionals to deliver tailored investment solutions while ensuring operational efficiency and regulatory compliance across diverse legal frameworks.

Ent. Value

€300–700M

Equity Value

[members only]

Multiples

EV / Revenue

Above 6x

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2025

2024

Other operations with Harvest

Other operations with Harvest
Date	Acquirer	Target	Country	Sector
05/2023	TA ASSOCIATES / MONTAGU PRIVATE EQUITY	HARVEST	FRANCE	Financial Services / Banking
12/2018	FIVE ARROWS	HARVEST	FRANCE	Financial Services / Banking

Similar deals in Software

Similar deals in Software
Date	Acquirer	Target	Country	Sector
02/2026	DOCTRINE	MAITE AI	SPAIN	Industry-Specific Software
02/2026	EXTENS	ORTHALIS & DENTALSOFT GROUP	FRANCE	Healthcare
01/2026	FOUNDERS	HIPTO	FRANCE	MarTech
01/2026	SIEMENS	ASTER TECHNOLOGIES	FRANCE	Electronics / Manufacturing
01/2026	AFINUM	DPS ENGINEERING	GERMANY	Financial Services / Banking
01/2026	MONTEFIORE INVESTMENT / ACTIVA CAPITAL	ARCHE MC2	FRANCE	Healthcare
01/2026	CORILUS	SOFIA DEVELOPPEMENT	FRANCE	Healthcare
01/2026	VERITAS CAPITAL	GLOBAL HEALTHCARE EXCHANGE	UNITED STATES	Healthcare
01/2026	TCV	PENNYLANE	FRANCE	ERP, HR & Finance
12/2025	OAKLEY CAPITAL INVESTMENTS	BREVO	FRANCE	MarTech

REFERENCES

Valuation range: EV €300–700M

Revenue range: €25–50M

EV/Revenue range: Above 6x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Firstance by Harvest are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

FAQ

What transaction does this page cover?

This page covers Harvest’s acquisition of 100% of Firstance, an Italian company specialised in Industry-Specific Software, in 2026.

How was the acquisition of Firstance by Harvest valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €300–700M band and its EV/revenue multiple within the Above 6x range. Exact figures are available to members.

What was Firstance’s revenue at the time of the deal?

At the time of the transaction, Firstance’s annual revenue was estimated within the €25–50M range (FY 2025). Detailed financial figures are available to members.

How does the valuation of Firstance compare to benchmarks in the TMT (Tech, Media, Telecom) sector?

Transaction multiples for this specific deal are exclusively reserved for mynth members. Nevertheless, transactions tracked by mynth in this sector reveal an average benchmark multiple of 14.6x EBITDA during 2026.

What sources support the information on this transaction?

Information on this transaction is sourced from the official corporate announcement published by the parties, corroborated by a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

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