Financial technology · Copenhagen, Denmark
Cedar Ledger
B2B SaaS · Founder-owned · Founded 2013
Revenue€32mIllustrative LTM
EBITDA€6.7m21% margin
Revenue growth+14%Year on year
Recurring revenue92%Estimated share
Employees142+9% year on year
Company view
High confidenceRegulatory reporting and reconciliation software for specialist lenders and payment institutions.
Regulatory reportingB2B SaaSNordicsFounder-owned
Synthetic source fields
No live client dataBusiness modelB2B SaaS
OwnershipFounder-owned
Revenue€32m
EBITDA€6.7m
Recurring revenue92%
International revenue61%
Investment thesis
What could be true- Mission-critical product with high recurring revenue.
- International revenue is already diversified across twelve markets.
- Regulatory complexity supports durable demand.
Risks to resolve
Before advancing- Product roadmap depends on timely interpretation of regulatory changes.
- A small number of platform integrations drive implementation capacity.
Screening dimensions
Deterministic v1.0Revenue quality2.0 / 2.0
92% recurring revenue supports strong visibility.
Scale1.5 / 1.5
€6.7m EBITDA sits inside the illustrative platform range.
Growth0.8 / 1.5
14% revenue growth is healthy but requires a specific acceleration thesis.
Profitability1.2 / 1.5
21% EBITDA margin shows attractive operating leverage.
Market focus1.25 / 1.25
A sharply defined regulatory reporting niche supports specialist positioning.
Product depth1.0 / 1.0
Named workflow coverage and proprietary data indicate deep product value.
International0.75 / 0.75
61% international revenue demonstrates a repeatable cross-border proposition.
Dealability0.5 / 0.5
Founder-owned status could support flexible bilateral engagement.