Overview

inFakt is a leading provider of online accounting services tailored for Polish entrepreneurs. Established in 2008, the company is recognized for its expertise in e-invoice and billing software within the accounting and financial technology sector. Operating from its headquarters in Kraków, Poland, inFakt employs between 51 and 200 people, and serves over 400,000 users daily.

Business Model and Offerings

inFakt specializes in facilitating accounting processes through its comprehensive suite of services, primarily targeting sole traders but offering solutions suitable for a broader audience. Core offerings include:

1. inFakt App: A user-friendly application for issuing and managing invoices.
2. inFakt Smart: Advanced tools tailored for enhanced accounting solutions.

These services provide users a holistic view of their taxes, invoices, and social security obligations (ZUS), streamlining business operations significantly.

Market Position

Initially launched as an independent enterprise, inFakt is now a part of the Visma group, which enhances its market presence by availing Visma's significant resources while preserving a considerable degree of operational independence. This strategic alignment has enhanced inFakt's market reputation as a cutting-edge service provider.

Financial Performance

To date, inFakt has secured $1.05 million in funding across several rounds, bolstered by investors such as Point Nine Capital and RTA Ventures. The company’s enterprise value is estimated to lie between $4 and $6 million, with annual revenues approximating $8.2 million, demonstrating significant revenue growth.

Leadership Team

inFakt's leadership team consists of accomplished professionals steering the company towards success:

Piotr Nawrocki: Chief Executive Officer, renowned for his managerial expertise.

Marzena Bobrowska: Chief Operating Officer, brings a robust finance and accounting background.

Adam Cygan: Chief Revenue Officer, concentrates on revenue maximization.

Włodek Markowicz: Chief Product and Marketing Officer.

Dominika Zuber: Chief Customer Officer.

Radek Rochmalski: Chief Technology Officer.

Technological Edge

inFakt leverages sophisticated technology to automate accounting tasks, thereby enhancing efficiency and allowing clients to concentrate on business growth. The integration of advanced tech within its service delivery framework is central to customer satisfaction and operational excellence.

Strategic Insights

inFakt’s integration with Visma bolsters its market outreach, enhancing innovation capabilities while embracing a modern, digital-first approach to accounting. This strategic position is particularly attractive to small business owners and entrepreneurs who benefit from its efficient financial management tools.

Competitor Profiling

Overview

inFakt competes within a vibrant industry landscape, offering online accounting and technology solutions for businesses. This sector is marked by substantial competition from both global and regional players.

Key Competitors

Top Competitors

1. QuickBooks Online: Offers extensive accounting software for various business sizes.
2. NetSuite: Known for comprehensive cloud-based ERP solutions and financial tools.
3. Sage Intacct: Provides innovative, cloud-based accounting services focusing on customer needs.
4. Xero: A major cloud-based accounting platform popular in English-speaking markets.
5. FreshBooks: Known for its intuitive, user-friendly cloud-based accounting software.
6. MYOB, Visma, Clear, and FreeAgent: Noteworthy competitors offering alternative accounting solutions.

Market Insights

In the domain of accounting and tax services, leading giants like PwC and EY command dominant market shares of 58.10% and 31.41%, respectively. CCH Axcess also holds a noteworthy 3.30%. Regionally focused competitors, including Cloud Planet S.A., Faktoria Sp. z o.o. Grupa Nest Bank, and Fakturownia.pl, provide additional market dynamics.

Competitor Solutions and Services

QuickBooks Online

A leading Intuit service, QuickBooks Online delivers comprehensive accounting solutions, emphasizing convenience and powerful integration capabilities for SMEs.

NetSuite

An ERP powerhouse offering extensive solutions encompassing financial management and CRM that scale from small businesses to Fortune 500 firms.

Sage Intacct

This suite supports subscription billing, revenue management, and multi-entity consolidation, tailored for service-oriented industries.

Xero

With over 3.5 million users globally, Xero offers robust cloud-based accounting and payroll solutions, focusing on compliance and integrations like Gusto.

FreshBooks

Ideal for freelancers and growing businesses, FreshBooks provides cloud-based invoicing and expense tracking, with a valuation approaching $1 billion.

Strategic Positioning and Recent Developments

NetSuite has garnered Frost & Sullivan’s Global Cloud ERP Company of the Year recognition.

Xero is expanding its global footing through strategic acquisitions such as TaxCycle (Canada) and partnerships in the US with Gusto.

inFakt navigates a competitive environment dominated by established leaders like QuickBooks, NetSuite, and Xero, each offering tailored solutions catering to diverse business requirements. Keeping abreast of technological advancements and market dynamics remains crucial for inFakt's sustained competitiveness.