The Europe’s Most Innovative Companies 2025 list, compiled by Fortune in partnership with Statista, is based on more than 108,000 evaluations by experts and employees, enriched by the LexisNexis® patent portfolio index. Each company is assessed across three dimensions: product innovation, process innovation, and innovation culture. Sidetrade stood out for the strength of its innovative mindset, a key driver in its ability to reshape financial practices across the Order-to-Cash field.
This recognition crowns a continuous innovation trajectory that began with the company’s founding in 2000. This momentum originated in Paris, France, where the company built its technological foundation within an ecosystem that has since achieved global recognition. As of 2025, the French capital’s technology ecosystem ranks fourth globally, according to Dealroom, surpassing London, Munich, and Stockholm.
Since its inception 25 years ago, Sidetrade has been at the forefront of technological disruption, said Olivier Novasque, Founder and CEO of Sidetrade. This recognition by Fortune comes at a pivotal moment, as we enter the era of agentic AI. For our clients, this marks the era of augmented finance, with virtually unlimited capabilities that can absorb business complexity. For us, it reflects a technological lead we estimate to be over three years ahead of our market.
By equipping finance departments with autonomous agents capable of acting, communicating, and adapting in real time, Sidetrade is redefining the foundations of the Order-to-Cash process. This shift from assistive AI to executional AI represents a strategic inflection point, described by several analysts as a business model transformation.
The emergence of agentic AI marks a turning point in the operating model of corporate finance, noted Jean-Pierre Tabart, Analyst at TP ICAP. With its technological lead, mastery of real-time behavioral data, and ability to industrialize autonomous intelligence at scale for large enterprises, Sidetrade stands out as a strategically undervalued asset, poised to capture increasing value in an under-equipped market.
Launched by Euronext in 2022, the Tech Leaders brings together the 110 most dynamic listed European tech companies, providing them with enhanced visibility, targeted investor access, and exclusive participation in pan-European innovation forums. Sidetrade’s inclusion reflects its alignment with the criteria of the index:
- A track record of building technologies with transformative impact,
- A market cap above €300 million?
- A CAGR (Compound Annual Growth Rate) above 20% over the last three years.
The Euronext Tech Leaders Index will be updated after markets close on Friday, 20 June 2025, with effect from Monday, 23 June 2025.
Delphine d’Amarzit, Euronext Paris Chairwoman and CEO, states: Sidetrade’s 20th anniversary of being listed coincides with the highest possible recognition of its stock market journey: its inclusion in the Euronext Tech Leaders, which brings together technology companies listed on Euronext that stand out for their growth and innovation. I am pleased that the stock exchange has fully played its role in supporting the growth of a company like Sidetrade, which now ranks among the most promising tech companies in Europe, thanks to the long-term vision of its founder, Olivier Novasque, and the work of its teams.
Sidetrade’s trajectory reflects a conviction that the future of enterprise finance lies in autonomous systems capable of acting intelligently in dynamic environments. Innovation is in the DNA of Sidetrade. From the outset, the company has approached AI not as a layer of enhancement, but as the engine driving systemic change.
Central to this transformation is Aimie, Sidetrade’s agentic AI. Built to go beyond predictive analytics, Aimie is an autonomous agent that makes decisions, initiates actions, and adapts in real-time to optimize cash flow processes. From qualifying invoices to orchestrating engagement strategies and accelerating cash collections, Aimie scales behavior-based decision-making across a global network of over 40 million buyers. This intelligence is grounded in Sidetrade’s Data Lake, the world’s richest behavioral dataset for B2B transactions, encompassing more than $7.2 trillion in payment data. It is this combination of machine learning, behavioral modeling, and collaborative intelligence that positions Aimie as an operator that learns, acts, and evolves in the service of enterprise performance.
The inclusion in the Euronext Tech Leaders segment is also a tribute to Olivier Novasque’s vision as founder and CEO of Sidetrade. Marking 25 years of innovation at Sidetrade, Novasque has championed a bold roadmap to move finance beyond automation and into real-time intelligent orchestration, transforming the CFO office from a reactive unit to a proactive command center.
We are honored to join the Euronext Tech Leaders, said Olivier Novasque, CEO and founder at Sidetrade. At Sidetrade, we’ve never followed the market. We’ve questioned its limits and investigated how technology should overcome them. In a financial world that is growing increasingly complex by the day, we believe the real breakthrough lies in augmenting human capacity. Our technology is designed to sharpen judgment, accelerate action, and foster resilience. When machines enhance talents, organizations unlock their full potential.
Powered by Sidetrade’s Data Lake, the new Aimie orchestrates Order-to-Cash (O2C) processes, executing phone calls, interacting with debtor clients, escalating and flagging issues or exceptions for human follow-up actions where necessary. Announced at the Gartner CFO & Finance Executive Conference today, this launch marks a decisive leap beyond automation.
Ushering in a new era for CFOs, Global Business Services, and Shared Services
In the current economic climate, traditional financial systems, rule-based automation, large teams handling low-value calls, and follow-up email campaigns have all revealed their limitations. The race for competitiveness is not just won with automation. It is also won with speed, precision, and the ability to make sense of vast and fragmented data. Chief Financial Officers (CFOs), Global Business Services, and Shared Services leaders must accelerate cash flow generation, less operational overheads, and scale faster.
Aimie is now agentic. Designed as an enterprise teammate, her first capability is being an autonomous Cash Collection Agent, trained on $7.2 trillion in payment experiences and insights from 40 million buyers worldwide. Simply put, Aimie does not wait for instructions, said Rob Harvey, Chief Product Officer at Sidetrade. Aimie does much more than merely follow a script; she makes decisions. That’s the real breakthrough. Agentic AI propels Order-to-Cash processes beyond automation into autonomous decision-making, unlocking new levers for sustainable financial performance. By combining human oversight with self-directed agents, we are creating an opening for more adaptive, scalable finance operations, where manual processes do not hold back growth.
Aimie’s Cash Collection Agent is ready for deployment across Europe and North America:
- Autonomous outbound calling (first contact calls, follow-up calls, voicemail messages) with personalized dialogues suited to every situation;
- Outcome qualification with automatic case updates;
- Escalation when a material risk is detected.
Unlike static bots, Aimie continuously learns from live outcomes, adjusts outreach strategies, and refines prioritization using predictive signals from Sidetrade’s Data Lake.
Championing consistency to elevate performance
Early adopters are already experiencing real-world impact. What I love most about Aimie isn’t the cost savings; it’s her consistency, said Stephen Dyer, VP Credit & Collections at OpenText. I manage 100+ collectors globally, and inconsistency is inevitable. Aimie guaranteed precise, repeatable execution which is a game-changer! She also helps to reshape the modern customer 360, enabling us to move past traditional customer experiences toward a data-driven, personalized relationship that can be replicated at scale.
Aimie empowers Sidetrade customers with distinctive capabilities:
- Rapidly learning a company’s culture, products, and terminology, adapting communication in a way that feels native to their brand.
- Engaging in interactive, qualified conversations with thousands of buyers at scale, acting as a fully-fledged game-changer for managing massive SMB account portfolios, at low cost.
- Speaking up to 29 languages: allowing for seamless cash collection in local languages and contexts.
- Making 1,000 outbound calls daily, operating 24/5.
- Accelerating cash flow by scaling the most effective channel in collections: outbound calling.
Aimie takes on the high-volume, low-value tasks that drain finance teams, automating repetitive work with consistency, wherever the geography. The results? Reduced administrative burden on accounts receivable, so talent can refocus on strategic impact. Speaking with early adopters, Harvey commented: They are not worried about a robot taking their job… because most of them already feel like they are doing the robot’s job. Moreover, they are aware that if we fail to design an AI co-worker, tomorrow’s finance will feel less human as they will be stuck talking to accounts payable robots instead of solving real strategic problems.
Building on CFOs economic environment
Aimie’s unique advantage is Sidetrade’s Data Lake, which manages 10 payment events per second across one billion transactions, making it the largest real-time O2C behavioral database in the market. Aimie’s intelligence comes from context-rich data, not just clever LLM’s, said Mark Sheldon, Sidetrade’s Chief Technology Officer. Generic AI systems lack the contextual data needed to operate as domain experts. But Aimie does. With $7.2 trillion in behavioral payment signals, Aimie adapts with pinpoint precision, and she keeps learning. Finance departments gain access to a new resource: tireless and infinitely scalable.
Sidetrade has been training finance-specific models since 2015, with generative capabilities added in 2024. The AI Cash Collection Agent is part of a broader rollout of Sidetrade’s new agentic AI, which includes purpose-built agentic functionalities for email auto-response, portal data extraction, and cash application exception handling. As an AI orchestrator, Aimie coordinates a team of domain-specific agents to run the O2C cycle autonomously. AI goes agentic, stated Harvey. Each agent operates independently to process thousands of customer emails and payments per day. Together, they represent a step-change in how finance teams execute their O2C processes.
Sheldon concluded: Short-term, what companies need to define is the level of autonomy they are willing to delegate to agents, the role human oversight should play, and how best to optimize their resources in this new paradigm. Rather than giving in to fears around agentic AI or human replaceability, I encourage business leaders to rethink the role of people within organizations that fully harness this technological shift. The most forward-thinking leaders already augment operational efficiency while repositioning their teams toward higher-value, strategic work.
Aimie, Sidetrade’s AI Cash Collection Agent, is now available for early adopters.
Meet Aimie, here.
Sidetrade’s 2024 Annual Report provides an in-depth analysis of the company’s ecosystem, strategic direction, and governance framework. It also reviews the key milestones that shaped the past financial year. Beyond the financial results, the report connects economic performance and non-financial impact, demonstrating Sidetrade’s commitment to responsible growth, exemplary governance, and sustainable value creation.
This report is designed for investors, partners, customers, and stakeholders who want a deeper understanding of how Sidetrade anticipates, innovates, and shapes the future of corporate finance. It is available on the company’s website here.
Philippe Gangneux, CSR Ambassador and Chief Financial Officer of Sidetrade, commented:
In 2024, we delivered record revenue and profitability, while expanding our AI innovation and international footprint. For the second year, we’re integrating both financial and non-financial performance to give our stakeholders a transparent, 360° view of how Sidetrade creates value. Our ability to combine sustained growth, operational excellence, and long-term impact is what sets us apart.
This year’s Annual Report goes beyond numbers, highlighting how our intelligent solutions, powered by the Sidetrade Data Lake, are not only accelerating cash flow performance for our customers, but helping finance leaders rethink what’s possible in the age of generative AI.
Olivier Novasque, CEO of Sidetrade commented:
While the start of the year has been shaped by an uncertain economic climate—particularly in the United States—we continue to deliver double-digit revenue growth quarter after quarter. In Q1, we commend the strong performance of our European bookings, reflecting solid commercial momentum among existing clients. This was driven by the adoption of new product modules and geographic expansion into new countries. This expansion within our installed base effectively offset the more cautious stance of decision-makers in the US market. Achieving a near-perfect balance (50/50) in our development model over the past three years—between bookings from Europe versus the United States on one hand, and new customer sales versus existing customer upsell on the other—has equipped us with the resilience to navigate more turbulent periods when one of these components temporarily falters. Looking ahead across all four quarters of fiscal year 2025, we are confident in our ability to maintain this equilibrium. Regarding Q1 revenue, our record bookings in 2024, combined with a revenue recurrence rate exceeding 90% and the contribution from SHS Viveon, has enabled us to achieve a strong growth of +22%, continuing the momentum from our standout 2024 performance.
€2.77 million in Annual Contract Value (ACV) in Q1 2025
In the first quarter of 2025, Sidetrade delivered a solid performance, recording €2.77 million in Annual Contract Value (ACV) from new signed contracts, compared to €3.98 million in Q1 2024. It is important to note that Q1 2024 represented an exceptionally high comparison base, with triple-digit growth of +117%, nearing the Company’s all-time record of €4.1 million. While Q1 2025 marks a year-over-year decline of 30% against this particularly strong prior-year quarter, the performance remains robust in absolute terms and significantly exceeds the €1.83 million recorded in Q1 2023, representing a +51% increase over that period.
During the quarter, strong performance in Europe—driven by existing customers and accounting for nearly 90% of total bookings—more than offset a more mixed performance in the United States. This European momentum was supported by the successful commercialization of new product modules, including CashApps and Augmented Invoice, the latter being dedicated to electronic invoicing. In North America, bookings contributed 15% of Q1 2025 total bookings. The region faced a more cautious investment environment, as key decision-makers adopted a wait-and-see approach regarding new project commitments.
In addition, new SaaS bookings (New ARR) totaled €1.28 million, compared to €1.85 million in Q1 2024, while Services bookings totaled €1.49 million versus €2.13 million in Q1 2024.
Sidetrade’s development model—balanced between North America and Europe, and between new customer acquisitions and upsells to the existing client base—provides the Company with strong resilience against short-term market imbalances. This quarter, solid expansion sales in Europe among existing customers ultimately enabled the Company to deliver a robust overall performance, despite a more challenging macroeconomic environment in the US.
Solid revenue growth of +22%, driven by a +26% increase in SaaS subscriptions, reflecting strong recurring revenue momentum
| Sidetrade (€m) |
Q1 2025 | Q1 2024 | Change |
| SaaS subscriptions | 12.1(1) | 9.6 | +26% |
| revenue | 14.3(2) | 11.8 | +22% |
All the 2025 information of this financial release is from consolidated, unaudited data.
(1) includes €1.35 million in recurring revenue from SHS Viveon
(2) includes €1.90 million in total revenue from SHS Viveon
Sidetrade recorded a very strong start to fiscal year 2025, posting revenue of €14.3 million for the first quarter, representing year-over-year growth of +22%.
SaaS subscriptions reached €12.1 million in Q1 2025, reflecting year-over-year growth of 26%, including +12% on a like-for-like basis (excluding the integration of SHS Viveon). This sustained pace underscores the effectiveness of Sidetrade’s SaaS business model and its ability to efficiently convert bookings into recognized revenue.
In the first quarter of 2025, Services revenue posted modest growth of +3%, reaching €2.2 million. On a like-for-like basis (excluding the impact of SHS Viveon), this represents a decline of -20%. This trend reflects a lower volume of new large-scale projects and more limited-service engagements related to SaaS subscriptions among existing clients.
Sidetrade continued to expand its footprint with large multinationals. In Q1 2025, subscriptions from companies generating over €2.5 billion in annual revenue grew by 44%. For the first time, contracts from these large enterprises accounted for more than half of Sidetrade’s total subscription revenue, representing 53% of the total—underscoring the Company’s increasingly strong positioning within the large enterprise segment. This momentum is expected to remain a key growth driver in the coming quarters.
The integration of SHS Viveon’s operations (effective as of July 1, 2024) contributed €1.9 million to Sidetrade’s revenue in the first quarter of 2025, accounting for 13% of the total quarterly revenue.
It is important to note that all of Sidetrade’s multi-year contracts are systematically indexed to inflation—using the Syntec index for Southern Europe, the UK Consumer Price Index (CPI) for Northern Europe, and the U.S. CPI for the United States. This mechanism ensures that annual price adjustments are applied automatically to SaaS subscription fees in line with inflation trends, without the need to wait for contract renewal.
| Sidetrade (€m) |
2024 | 2023 | Change |
| Revenue | 55.0(1) | 43.7 | +26% |
| SaaS subscriptions | 45.5(2) | 36.6 | +22% |
| Gross margin | 43.1 | 35.3 | +22% |
| Operating expenses (OPEX) | (34.6) | (29.4) | +18% |
| Operating margin (3) | 8.4 | 5.8 | +45% |
| as % of revenue | 15% | 13% | |
| Net profit | 7.9 | 5.6 | +40% |
2024 information is from consolidated, unaudited data.
(1) includes €4.4m in SHS Viveon revenue
(2) includes €3.0m in SHS Viveon recurring revenue
(3) Operating margin corresponds to operating profit based on 2024 accounting standards in France, including the French Research Tax Credit.
Olivier Novasque, CEO of Sidetrade commented:
2024 once again illustrates the strength of Sidetrade’s business model, combining growth with profitability. Our 26% revenue increase was driven by a major breakthrough in the North American market, a leading-edge AI offering embraced by large enterprises, and the acquisition of SHS Viveon in Germany, which has further solidified our leadership in Order-to-Cash solutions across Europe. For the first time in our history, we have surpassed €8 million in operating profit, a significant 45% increase, highlighting the effectiveness and balance of our expansion strategy. But the real story goes beyond this impressive performance. We are witnessing an accelerated revolution in how businesses leverage artificial intelligence, marked by the emergence of specialized AI agents. Unlike traditional automation models that rely on rigid rule-based programming and constant human oversight, AI agents bring a new level of autonomous decision-making and real time operational optimization. These are no longer mere automation tools; they are intelligent entities capable of anticipating needs and acting independently within a company’s IT infrastructure, with minimal human intervention. Where traditional software simply organizes workflows using pre-defined rules, an AI agent trains, learns, adapts, and executes complex processes on its own. And this agentic revolution is only just beginning! At Sidetrade, Aimie represents the next generation of AI, evolving into an agentic AI that will orchestrate a network of AI agents, each managing a specific link in the Order-to-Cash cycle: risk, disputes, collections, cash application, and more. Aimie will direct, coordinate, and interconnect these high-specialized agents. Backed by the Sidetrade Data Lake, the most unique in the Order-to-Cash market and built on $7.2 trillion in B2B transactions spanning over 39.9 million businesses, Aimie is already powered by a one-of-a-kind training dataset in our field that will give its AI agents unmatched intelligence. Thanks to intensified R&D investments in 2024, we are set to launch our first next-gen AI agent in 2025, one that will redefine the boundaries of autonomy and capability. Companies that fail to embrace this paradigm shift will be rapidly outpaced by those that embed AI agents at the core of their operational excellence. With Aimie, Sidetrade is fully aligned with this AI agent revolution and is uniquely positioned to lead the race in its field.
New record in year-over-year bookings (+13% in ACV)
Sidetrade maintained its growth trajectory in 2024 and set a new record with Annual Contract Value (ACV) reaching €12.73 million, up 13% compared to 2023. Annual Recurring Revenue (New ARR), increased by 6%, amounting to €6.53 million while Services bookings grew by 21%, totaling €6.2 million.
Bookings by new customers (“New Business”) accounted for 63% of total new bookings in 2024, while contract extensions (“Cross-sell”) and additional modules to existing customers (“Upsell”) contributed 18% and 19% of bookings, respectively.
Strong revenue growth in 2024: up 26% with SaaS subscriptions up 22%
In 2024, Sidetrade reported annual revenue of €55.0 million, marking a 26% increase compared to the previous year, and a 16% increase on a reported basis (excluding the acquisition of SHS Viveon finalized in June 2024). Several factors contributed to this strong performance:
- Sustained organic growth: Overall revenue (excluding the acquisition of SHS Viveon) grew by 16%, while SaaS subscriptions increased by 15%. Meanwhile, Services showed impressive growth of 24%, driven by global implementation projects.
- Strategic acquisition of SHS Viveon opening the DACH region: Since July 1, 2024, SHS Viveon has contributed €4.4 million to Sidetrade’s revenue, now accounting for 15% of total revenue in the second half of 2024.
- Expanding international reach: The integration of SHS Viveon has increased the share of revenue generated outside of France to 65%. With 70% of its workforce now based internationally, Sidetrade demonstrates its ability to scale globally while maintaining strong local client relationships, key to building trust and driving operational efficiency.
- Outstanding performance in North America: North America recorded the highest growth in 2024, with a 36% increase, bringing annual revenue to €16.6 This strategic market is central to Sidetrade’s ambitions.
Sidetrade continues to strengthen its position among multinationals, with a 44% increase in subscriptions from companies generating over €2.5 billion in revenue. These contracts now represent 50% of total subscriptions. More broadly, companies generating over €1 billion in revenue account for 79% of the portfolio, cementing Sidetrade’s status as a preferred partner for large enterprises.
Gross margin and operating margin: strongly accelerating performance
Strong growth in gross margin: +22% with an increase of €7.8million
The sustained momentum in subscription growth continued to drive the expansion of the gross margin in 2024. On a like-for-like basis (excluding SHS Viveon), the gross margin rate for subscriptions remained particularly high at 92%, compared to 93% in 2023. SaaS subscriptions now represent 97% of the total gross margin.
Sidetrade’s overall gross margin rate on a like-for-like basis stood at 80%, versus 81% the previous year. Including the impact of SHS Viveon acquisition, the consolidated gross margin rate reached 78% of total revenue for the 2024 fiscal year.
In total, in 2024, Sidetrade delivered an incremental gross margin increase of €7.8 million compared to 2023, representing a +22% year-over-year growth.
Operating margin exceeding 15% of revenue (vs 13% in 2023)
Sidetrade’s operating margin showed a remarkable increase, reaching €8.4 million in 2024, up 45% from €5.8 million in 2023. This profitability is driven by sustained business growth, an excellent gross margin and disciplined cost management.
Thanks to this momentum, Sidetrade has continued its investment strategy, with an increase in expenditure of €5.2 million over 2023, and a particular focus on R&D (+€2.4 million), notably to accelerate the integration of generative AI into its core product offering.
The 2024 operating margin includes a French Research Tax Credit of €2.6 million (versus €2.4 million in 2023) as well as activation of €0.16 million in marginal R&D costs, i.e., 2% of R&D costs for the full year.
As a result, Sidetrade’s operating margin stands at 15% of revenue versus 13% in 2023, representing a 2-point gain year-over-year.
Surge in net profit to €7.9 million: up 40%
Sidetrade’s financial income, recorded as of December 31, 2024, stands at €0.7 million, up significantly from 2023 (€0.4 million). This performance is mostly due to interest earned on short-term investments during the year and the foreign exchange gains realized over the period.
Corporate income tax for 2024 is estimated at €1.1 million, versus €0.6 million in 2023.
All told, Sidetrade’s net profit for 2024 was €7.9 million, an increase of 40%, confirming the solid balance between growth and profitability.
Operating cash flow strongly supporting the acquisition of SHS Viveon
In 2024, Sidetrade generated a solid operating cash flow of €9.6 million, up €3.3 million (excluding the timing impact of the French Research Tax Credit refund). This level of cash generation enabled the Company to fully self-finance the acquisition of SHS Viveon, with a net cash outlay of €5.2 million (€6.6 million for the purchase of shares, offset by €1.4 million in available cash held by SHS Viveon).
As of December 31, 2024, Sidetrade reported €25.2 million in gross cash, up €1.3 million compared to year-end 2023.
In addition, Sidetrade held 85,437 of its own shares, valued at €19.1 million as of December 31, 2024.
Financial debt stood at €7.9 million, down €2.3 million year-over-year. Even after the SHS Viveon acquisition, Sidetrade retains substantial investment capacity, well-positioned to support its continued expansion strategy.
Recognized ESG commitment: Platinum by EthiFinance and Silver by EcoVadis
In 2024, Sidetrade accelerated its transition toward becoming a more responsible company and was awarded a Platinum medal from EthiFinance and a Silver medal from EcoVadis, with respective scores of 84/100 and 70/100. Now ranked among the top 15% of the most highly rated companies audited by EcoVadis, demonstrating its leadership in social responsibility.
These accolades confirm the relevance of Sidetrade’s strategy and its ability to anticipate the environmental and social challenges of tomorrow.
Sidetrade looks ahead to the fiscal year 2025 with confidence and a clear vision, and has the resources to fulfill its ambitions.
For the year 2024, Sidetrade achieved an overall rating of 84/100 from EthiFinance, the rating agency specializing in European-listed SMEs. This score places Sidetrade at the highest level with a Platinum medal with an 8-point increase from 2023. The improvement reflects tangible progress in reducing environmental impact, strengthening governance and ethical frameworks, and embedding sustainability into corporate strategy.
Sidetrade also enhanced its standing with EcoVadis, the world’s most trusted business sustainability ratings, with a 70/100 score for 2024 and earning a Silver medal for the second consecutive year. A key highlight was Sidetrade’s significant improvement in environmental performance with a 10-point jump in this category. This advancement reflects the company’s targeted sustainability initiatives and responsible business practices. As a result, Sidetrade ranks among the top 15% of the highest-performing companies across all industries, audited by EcoVadis.
Philippe Gangneux, CFO and CSR Ambassador at Sidetrade commented: Since 2021, we have been implementing an ambitious ESG roadmap. Sidetrade’s steady rise in ESG rankings reflects a dynamic approach where economic performance and positive impact go hand in hand. Today, the results are significant, and our impact is recognized by EthiFinance and EcoVadis. These distinctions strengthen our determination to redefine standards, drive relentless innovation, and embed sustainability at the core of our business model
A long-term commitment to sustainability
Sidetrade’s CSR strategy is structured around four pillars:
- Reducing Carbon Footprint: Implementing initiatives to minimize its environmental impact and align its actions with the Paris Agreement targets.
- Fostering Innovation and Inclusion: Promoting talent diversity and collaborative excellence to drive creativity and ensure equal opportunities.
- Digital Security and Ethics: Strengthening data protection standards and advocating for responsible digital practices.
- Integrity and Transparency: Upholding ethical business practices and exemplary governance.
By the end of the year, Sidetrade will publish its Bilan Carbone® and 2024 CSR Report. Learn more about Sidetrade’s CSR commitments.
Interpath is a fast-growing firm that supports clients with advisory and restructuring services and has operations in the UK, France, Ireland, Germany, Austria, Bermuda, Cayman Islands, BVI, and Algeria. The alliance with Sidetrade will support the firm’s continued growth and further enhance its ability to create, defend, preserve, sustain and grow value for its clients through working capital optimization. In turn, Sidetrade will be able to draw on Interpath’s advisory capabilities across a wide range of markets and channels to help more leadership teams transform their Order-to-Cash operations.
Kevin Schafer, AVP Partners Europe, at Sidetrade, commented: We are excited to join forces with Interpath to extend the reach of Aimie, Sidetrade’s AI assistant, to a wider spectrum of organizations. By combining Interpath’s industry expertise with our advanced technology, we are creating a powerful synergy to help businesses unlocking new efficiencies in optimizing working capital and driving sustainable cash flow growth.
The new alliance is set to reshape the way businesses tackle working capital challenges. It aims to empower organizations with digitally transformative solutions, delivering tangible results in an increasingly dynamic financial environment.
Sidetrade has consistently been recognized as a leader in the global Order-to-Cash the market, thanks to its powerful AI technology powered by the Sidetrade Data Lake which processes $6.1 trillion in B2B payment transactions real-time daily in Sidetrade’s cloud to provide users with a unique market view. Sidetrade has been positioned as a Gartner® Magic Quadrant™ Leader since 2022. It was also named a Leader in the IDC MarketScape: Worldwide Accounts Receivable Automation Applications for the Enterprise 2024 Vendor Assessment (doc #US51740924, December 2024).
Hope Rosenbaum, Chief Growth Officer, Head of Alliances at Interpath, commented: Sidetrade offers a world-class Order-to-Cash solution that leverages AI and cloud technology to make a transformational impact, complementing the work we do every day to help clients improve their financial performance and create value. The alliance couldn’t be timelier as businesses look for ways to make their cashflow work for them and find a more sustainable financial future. We look forward to working with Sidetrade as we leverage the technology and harness the expertise that we both hold to make a real difference for businesses we support across our international networks.
Gartner, Magic Quadrant for Invoice-to-Cash Applications, 6 May 2024, Tamara Shipley Et Al.
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Briarwood Chase Management, a prominent US-based investment firm, has surpassed the 5% ownership threshold in Sidetrade (Euronext Growth: ALBFR.PA). The decision to build its shareholding follows a comprehensive analysis of the SaaS leader’s economic model and a meeting at Sidetrade’s headquarters, solidifying the firm’s confidence in the CEO’s visionary leadership, its AI roadmap and market potential.
Robert Blatt, Managing Director of Briarwood Chase Management, said: Our position in Sidetrade underscores our commitment to investing in exceptional businesses and management teams. Sidetrade’s strategic focus on and growth in North America, and exceptional margin potential align with our investment philosophy. In today’s economic environment, Sidetrade distinguishes itself as a robust and high-quality SaaS player, offering built-in growth, strong revenue predictability and recurring income. Furthermore, its status as a sought-after contender in a consolidating market highlights its significant medium-term potential. We are looking forward to being long-term partners to the business and management team.
Sidetrade, recognized as a leader by top US technology research and consulting firms, is transforming the Order-to-Cash industry by simplifying the daily operations of financial leaders in large organizations to deliver immediate productivity improvements while securing and accelerating cash flow generation. This innovative approach sets new standards and redefines what’s possible in accounts receivable.
We are very excited to have the trust of Briarwood Chase Management in our growth journey, Olivier Novasque, CEO of Sidetrade, commented.After two years of rapid expansion to build a critical foothold in the US, 2024 was a year of strategic consolidation, focusing on strengthening our foundations and fine-tuning our teams. With the US market showing exceptional momentum, we are reigniting investments in 2025 to seize this unparalleled opportunity and drive Sidetrade’s growth to the next level.
The rapid rise of generative AI and the growing demand for efficiency are leading businesses to adopt cutting-edge technologies like Sidetrade’s. At the heart of Sidetrade’s innovation is Aimie, the most unique AI which – powered by the Sidetrade Data Lake – drives smart customer insights and delivers value for businesses worldwide.
Olivier Novasque, CEO of Sidetrade commented:
Following a downturn in the third quarter, we finished the year with a return to dynamic growth for fourth-quarter bookings, posting slightly more than €2 million in new annual recurring revenue (ARR), significantly up by 33% year-over-year. Except for Q3, we successfully aligned three out of four quarters throughout the year, with slightly over €2 million in new ARR per quarter. As a result, we achieved a new annual record for bookings. Figures aside, this dynamic confirms three structural trends that will propel Sidetrade’s trajectory in the months and years ahead. 1/ Our technological lead in AI, now boosted by generative AI capabilities, positions us to secure very large global accounts. 2/ Sidetrade is firmly establishing itself as the go-to partner for multinational companies, with a 44% growth in subscriptions from companies with revenue exceeding €2.5 billion and nearly 80% of total subscription revenue coming from those generating over €1 billion. 3/ The United States is and will continue to act as a vigorous growth driver for the Group, registering nearly half of the year’s bookings (46%) and with impressive revenue growth (+36%). To this end, and in anticipation of the expected market environment on both sides of the Atlantic, we decided to focus most of our business investments for 2025 on North America, where we see considerable growth potential. 2024 heralded a milestone in our development, buoyed by a promising start in generative AI-powered Order-to-Cash applications, not to mention our stronger leader position in Europe following the acquisition of SHS Viveon, and lastly, a marked acceleration in our US expansion. Looking ahead to 2025 and beyond, Sidetrade is on track to deliver another year of growth and profitability.
Solid Q4 2024: subscription bookings up 33%
Sidetrade ended Q4 2024 with bookings of €2.08 million in new ARR, a substantial increase of 33% versus €1.56 million in the same period last year. Parallel to this, services bookings, with almost all invoiced within 12 months of their signing, totaled €1.72 million, up 29% on the same period the previous year (€1.33 million).
Overall, new Annual Contract Value (ACV) – combining new yearly subscriptions and related services – totaled €3.8 million, representing a sustained increase of 31% versus €2.89 million in Q4 2023.
New record for bookings, year-over-year (ACV up 13%)
Despite a sharp decline in Q3 2024, Sidetrade succeeded in setting a new full-year record for bookings, both in terms of total new subscriptions and related services. For the fiscal year 2024, new contracts amounted to €6.53 million in subscriptions in new ARR, up 6% from the €6.18 million reported in 2023, with services bookings of €6.2 million, i.e., growth of 21% versus the €5.1 million recorded in the previous fiscal year.
On balance, new ACV totaled a never-before-seen €12.73 million, compared to €11.30 million year-over-year (+13%).
The United States played its full role as a growth driver, with a 36% increase in subscription bookings, accounting for 46% of the total. In addition, the Northern Europe region – mainly driven by the United Kingdom – kick-started a positive upturn with €0.74 million in subscriptions for 2024, representing a 20% increase on 2023 and indicating potential for further growth in 2025.
In the 2024 fiscal year, bookings in subscriptions by new customers (“New Business”) accounted for 63% of the total, while 18% of total bookings were driven by Cross-selling for new entities within a Group. Lastly, Upselling of additional modules to existing customers represented the remaining 19% of bookings.
Strong revenue growth in 2024, up 26%, with SaaS subscriptions up 22%
| Sidetrade (€m) |
2024 | 2023 | Change |
| SaaS subscriptions | 45.51 | 37.3 | +22% |
| revenue | 55.02 | 43.7 | +26% |
In 2024, Sidetrade achieved annual revenue of €55.0 million, representing a year-over-year increase of 26% and up 16% on a comparable basis (excluding the acquisition of SHS Viveon completed in June 2024), which is underpinned by solid internal momentum. These outstanding results are due to several factors:
- Sustained organic growth
Excluding the contribution of SHS Viveon, Sidetrade expertly demonstrated its ability to sustain growth. Total Company revenue (excluding the acquisition) increased by 16%, while SaaS subscriptions were up by a sizeable 15%. In particular, this performance was bolstered by a record first-half for bookings. In parallel, the Group’s Services business achieved remarkable growth of 24%, notably thanks to deployment projects signed worldwide. - Strategic acquisition of SHS Viveon
Following its consolidation on July 1, 2024, SHS Viveon delivered revenue of €4.4 million, serving to accelerate Sidetrade’s growth momentum. Fully consolidated in the DACH region (Germany, Austria, Switzerland and eastern European countries), SHS Viveon’s business accounted for 15% of the Company’s total revenue in H2 2024. This new geography is now an established growth driver for the Group. - A fast-expanding global presence (65% of revenue)
Sidetrade is extending its foothold worldwide, which validates international expansion as one of its strategic pillars. The consolidation of SHS Viveon has propelled the share of revenue generated outside France to 65%, a significant development testifying to the Group’s successful expansion.
What’s more, with 70% of its workforce based abroad, Sidetrade has proven its ability in expanding in global markets while upholding close ties with local customers, fostering trust and effectiveness. - Remarkable performance in North America (+36%)
Of all the Group’s geographies, North America posted the strongest growth for 2024, up 36% and accounting for €16.6 million in annual revenue. This strategic market will continue to play an important role in fulfilling Sidetrade’s ambitions for development.
Rise in subscriptions from multinationals: a growth driver for Sidetrade
Analysis of Sidetrade’s customer profiles, which is enhanced by the consolidation of SHS Viveon, is underpinned by impressive growth of 44% in subscriptions with multinationals generating €2.5 billion-plus revenue. These contracts now account for 50% of Sidetrade’s total subscriptions, proving critical to the Company’s development strategy.
More generally, subscriptions with multinationals achieving €1.0 billion-plus revenue now represent 79% of the total portfolio, cementing Sidetrade’s strengthened position as the partner of choice among large corporations.
The acquisition of SHS Viveon substantially contributed to this performance, providing an established portfolio of key accounts and widening the scope for Sidetrade with major companies in the DACH region. With this expanded customer base, Sidetrade is firmly positioned to sustain demand and fully capitalize on these new opportunities over the next few quarters.
It should be noted that all multi-year Sidetrade contracts are routinely indexed to inflation (the Syntec for Southern Europe, the UK CPI for Northern Europe and the US CPI for the United States). This measure alters the total price of SaaS subscriptions each year by reference to changes in these price indices, without the need for contract renewals.
Sidetrade rises to the Top 15% in EcoVadis ratings
2024 marked a new milestone for Sidetrade in terms of social and environmental performance as the Group was awarded a Silver medal from EcoVadis. As a result, the Company now ranks among the top 15% rated within its industry.
With a score of 70/100 – an improvement from 2023 – this medal recognizes the Group’s efforts to shrink its energy footprint while optimizing infrastructure. This success reaffirms Sidetrade’s status as a responsible partner in the transition towards a sustainable economy.
Sidetrade looks ahead to the fiscal year 2025 with confidence and a clear vision, and has the resources to fulfill its ambitions.