At what enterprise value was HUDDLESTOCK acquired in 2025?

During the acquisition of HUDDLESTOCK by DONE AI in 2025, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 50M - 150M NOK. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Financial Services industry currently tracks an average EBITDA multiple of 12.9x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of HUDDLESTOCK when it was acquired by DONE AI?

The estimated EV/EBITDA multiple for HUDDLESTOCK is in the range of 10x - 18x. For comparison, the Financial Services sector currently shows an average EBITDA multiple of 12.9x. Join our community for free to access full valuation data and industry trends.

When was HUDDLESTOCK acquired by DONE AI?

HUDDLESTOCK was acquired by DONE AI in 2025.

What was the revenue of HUDDLESTOCK at the time of the deal?

The revenue of HUDDLESTOCK at the time of the deal is estimated to be in the range of 25M - 50M NOK. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of HUDDLESTOCK during the acquisition?

HUDDLESTOCK's EBITDA is estimated to be in the range of 5M - 25M NOK. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the HUDDLESTOCK acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the HUDDLESTOCK deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.inderes.dk/en/releases/24sevenoffice-group-ab-doneai-group-ab-acquires-huddlestocks-investment-as-a-service-platform-to-accelerate-its-ai-native-fintech-expansion-across-the-nordics

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Home Database Financial ServicesHUDDLESTOCK

04/2025

HUDDLESTOCK acquired by DONE AI

NORWAY FinTech / Investment-as-a-Service / Embedded Finance EV 50M - 150M NOK

Context

Done.ai Group AB has acquired Huddlestock Fintech AS through the purchase of 100% of the shares in Huddlestock Investor Services AS, Huddlestock AB and Huddlestock Technologies AB. The transaction will be completed pending approval from the Norwegian Financial Authority and includes a cash component at closing together with a seller's credit that may be converted into equity or cash at the buyer's discretion. Integration plans call for embedding Huddlestock's Investment-as-a-Service technology into the Done.ai platform and delivering the combined solution to the extensive customer base of 24SevenOffice under an exclusive three‑year distribution agreement. The acquisition aligns with Done.ai's objective to broaden its AI‑native fintech ecosystem by adding institutional‑grade investment infrastructure to its existing suite of embedded financial services. By consolidating the IaaS platform, Done.ai can cross‑sell treasury, credit and payment functionalities to existing ERP clients while leveraging its partnership with a leading Nordic bank to satisfy regulatory requirements. The combined offering enhances the company's ability to capture a larger share of the growing demand for real‑time, automated liquidity and investment management among mid‑market businesses. Post‑closing, the buyer expects to realize cost efficiencies through the integration of development teams, shared cloud resources and streamlined governance structures. Revenue growth is anticipated from accelerated adoption of the IaaS platform within the 24SevenOffice ecosystem and from new corporate clients seeking embedded investment capabilities. The expanded product portfolio positions the combined entity to increase recurring revenue streams, improve profitability and strengthen its competitive stance in the European embedded finance market.

HUDDLESTOCK, which reported an EBITDA margin of LOGIN in 2024, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Financial Services sector (12.9x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Huddlestock Fintech AS develops and operates an Investment-as-a-Service platform that provides end‑to‑end investment infrastructure for business customers. The platform supports onboarding, multi‑asset execution, custody, post‑trade processing and regulatory compliance through a modular API architecture. Clients include corporate treasurers, asset managers and technology providers that embed the service within their own operational systems. Revenue is generated primarily from recurring subscription fees and transaction‑based charges linked to assets under administration. Founded in the early 2010s, the company expanded from a domestic Swedish operation to a pan‑Nordic presence, establishing development centers in Norway, Sweden and Denmark. Technical capabilities comprise a cloud‑native core engine, real‑time risk analytics and integration with multiple market data and settlement networks. The business model emphasizes scalability, allowing the platform to serve tens of thousands of end users while maintaining a low marginal cost per client. Huddlestock has pursued growth through selective acquisitions across the Nordics, consolidating technology and talent to create a unified service offering. The firm maintains a compliance framework aligned with European financial regulations and holds necessary licences for custody and trade execution. Its market positioning targets mid‑size enterprises seeking to outsource investment functions without building in‑house capabilities.

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REFERENCES

Valuation range: EV 50M - 150M NOK

Revenue range: 25M - 50M NOK

EBITDA range: 5M - 25M NOK

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

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: huddlestock

Acquirer: done ai