Houlihan Lokey Advises N2F
Houlihan Lokey is pleased to announce that N2F, a leading provider of spend management software backed by PSG Equity, has secured a growth equity investment from FTV Capital, a sector-focused growth equity firm with a strong track record of investing in high-growth enterprise and financial technology companies. The partnership will drive N2F’s next phase of expansion, with a focus on accelerating product innovation, deepening AI capabilities, and scaling internationally.
Founded in 2015 with headquarters in France, N2F provides a comprehensive platform for managing expenses, corporate cards, and automating accounts payable workflows. Its highly configurable and user-friendly solutions integrate seamlessly with more than 300 accounting, ERP, payroll, travel management, and banking systems, helping organisations, from small and middle-market to enterprise, scale and streamline processes, ensure compliance, and gain full visibility and control over corporate spend. Since 2023, following an investment from PSG Equity, the company has grown threefold to become a trusted technology partner to more than 800,000 professionals across 90+ countries, from companies such as Duralex, Lyreco, Malongo, Playmobil, and Bugatti, with a product available in 11 languages.
FTV Capital’s investment will further accelerate the development of N2F’s product suite, building on the momentum and strong adoption of N2F’s recently launched accounts payable and cards offerings. It will also accelerate the company’s international go-to-market efforts, particularly in the DACH region, Italy, Iberia, and Benelux, where the platform is already fully localised to meet regulatory and operational requirements, and where growing local teams will drive commercial execution and customer success.
The investment reflects FTV Capital’s strong conviction in N2F’s vision and leadership, building on its roots of product excellence and a deep commitment to customer care, while empowering the company to scale and deliver world-class solutions to finance teams across Europe and beyond. Through this transaction, PSG Equity will exit its investment in N2F.
Houlihan Lokey served as the exclusive financial advisor to N2F and PSG Equity and supported them on key aspects of the transaction, including marketing, structuring the process, coordinating of due diligence, and negotiating key deal terms. This engagement highlights the firm's continued momentum in the office of the CFO software space across Europe.
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