Austria: Schoenherr advises Verdane fund on investment in fintech fiskaly

"We are grateful to have had the opportunity to support Verdane throughout this significant investment and financing round in our region," said partner Thomas Kulnigg, who led the Schoenherr team. "This transaction highlights the growing interest and confidence in the fintech sector in Austria and Europe at large. We are proud to support the expansion and development of cutting-edge financial technologies that are shaping the future of the industry."

"It has been an exciting journey to support our client in navigating the complexities of this transaction and contributing to their strategic growth in the market," added attorney at law Niklas Kerschbaumer from the transaction team.

Verdane is a specialist growth investment firm that partners with tech-enabled and sustainable European businesses. It can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy inside two core growth themes: digitalisation and decarbonisation. Verdane funds hold over EUR 6.9bln total commitments and have made over 400 investments in fast-growing businesses since 2003. Verdane's team of over 140 investment professionals and operating experts, based out of Berlin, Munich, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe. The firm is also a certified B Corporation, the most ambitious sustainability accreditation globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy. Verdane is partly owned by the Verdane Foundation, which is focused on two areas: climate change and more equitable and inclusive local communities. 

fiskaly specialises in cloud-based fiscalisation solutions across Europe, with its flagship product, fiskaly SIGN, providing API-driven fiscal code generation and validation services in compliance with regional legislation. fiskaly is headquartered in Vienna with subsidiaries in Germany, Spain and Italy.

The Schoenherr team advising Verdane was led by Thomas Kulnigg (partner) and Niklas Kerschbaumer (attorney at law) and further consisted of Christoph Haid (partner), Bianca Duca (attorney at law) and Alexandru Caprau (associate) for FDI and merger clearance as well as Dominik Tyrybon (attorney at law), Clemens Rainer (partner), Rebecca Schretzmayer (associate), Nina Zafoschnig (attorney at law), Alexander Pabst (attorney at law), Florian Terharen (associate), Denise Stahleder (associate), Stefan Kühteubl (partner), Carina Fürnkranz (associate), Karin Pusch (counsel), Raphaela Sorger (associate), Christina Unterdünhofen (associate), Marco Thorbauer (partner) and Clemens Pretscher (attorney at law) for conducting the due diligence.

A team led by Tim Schlösser and Barbara Hasse from YPOG acted as local counsel for the German law aspects of the transaction, in particular for due diligence.

Legance (lead: Jacopo Figus Diaz and Auricchio Vito) acted as local counsel for the Italian aspects of the transaction.    

fiskaly was advised by Herbst Kinsky led by Philipp Kinsky (partner) and assisted by Christina Bernhart (attorney at law, corporate), Barbara Ring and Leopold Gottsauner-Wolf (both associates, corporate), Anna Diensthuber (attorney at law, labour law), Irmgard Nemec (attorney at law, IP), Valerie Mayer (attorney at law, FDI) and Julia Karnicar (associate, FDI).