Fortnox

About Fortnox

Founded in 2001 and headquartered in Växjö, Fortnox provides a modern, cloud-native platform that enables small and micro businesses to manage essential financial and administrative workflows. Its product suite spans accounting, invoicing, payroll, time tracking, and embedded financial services such as invoice financing, business loans, credit cards, and supplier payments.

The platform serves over 600,000 businesses and is widely adopted across Sweden’s SME sector. Fortnox combines accountant-led distribution and in-app cross- and upsell with continuous product innovation - supported by a well-invested R&D organisation. A growing ecosystem of 500+ marketplace apps and 8,500+ custom integrations extends the platform’s reach across industries and use cases.

Market trends and drivers

Digital transformation continues to reshape how businesses operate, with increasing demand for automation, compliance, and real-time financial insight. As small businesses look to reduce admin, improve decision-making, and focus on growth, modern cloud platforms are becoming essential infrastructure. Fortnox supports this shift by providing intuitive, integrated software and financial tools that help companies save time, increase control, and run more efficiently - driving measurable business value across a large and growing market.

Investment potential

Fortnox combines high retention, recurring revenue, and strong margins with an efficient distribution model rooted in the accounting channel and in-app self-service. The business benefits from strong market presence, reinforced by a broad ecosystem of accountants, partners, and integrations - creating a defensible position in the Swedish SME segment.

EQT will support Fortnox in deepening customer engagement, expanding adoption of embedded financial services, and accelerating product development. There is clear potential to broaden the platform’s role in customers’ day-to-day operations - helping businesses save time, gain control, manage cash flow and make better decisions. Drawing on prior experience in software and financial services, EQT will work closely with the Fortnox team to drive continued growth and long-term value creation.