At what enterprise value was SHINE acquired in 2025?

You can find the full valuation details of SHINE on mynth capital. The transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR. 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 13.1x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of SHINE when it was acquired by CEGID?

The exact EV/EBITDA multiple for SHINE is available on mynth capital. For comparison, the Financial Services sector currently shows an average EBITDA multiple of 13.1x. Join our community for free to access full valuation data and industry trends.

When was SHINE acquired by CEGID?

SHINE was acquired by CEGID in 2025.

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 SHINE 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 SHINE 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://capitalfinance.lesechos.fr/deals/build-up/cegid-rachete-la-licorne-shine-2201128

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Home Database Financial ServicesSHINE

11/2025

SHINE acquired by CEGID

FRANCE Fintech & Payments EV 1b - 4b EUR

Context

Cegid acquired Shine (and its associated fintech ecosystem under Ageras) for a total consideration exceeding EUR1 billion. This represents the largest acquisition in Cegid's 40-year history. The deal aims to fuse banking and accounting: by integrating Shine's banking rails directly into Cegid's software used by accountants, the group creates a seamless "paneuropean financial platform." The valuation implies a massive multiplier reflecting the strategic premium of controlling the SME payment flow.

SHINE, which reported an EBITDA margin of LOGIN in 2024, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Financial Services sector (13.1x).

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

Founded in 2018, Shine is a leading French neobank dedicated to freelancers and SMEs. It offers a pro bank account coupled with invoicing and administrative management tools. The company has had a turbulent ownership history: acquired by Societe Generale in 2020, sold to Danish fintech Ageras in early 2025 (valued at ~EUR131m), and now integrated into a larger platform. Shine serves over 100,000 professionals and stands out for its "Copilot" approach, combining banking with accounting pre-work.

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REFERENCES

Valuation range: EV 1b - 4b EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of SHINE by CEGID 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: shine

Acquirer: cegid