Code & Co.

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Engagement — Add-on Due Diligence

Code & Co. conducted Tech & Product Due Diligence for the E-Commerce Software Group, a portfolio company of funds advised by Bregal Unternehmerkapital (“BU”), on its investment in amaZervice, a leading VAT compliance and invoicing software provider.

The E-Commerce Software Group has acquired German software provider amaZervice, the creator of amainvoice, to become part of Billbee. By joining forces with amaZervice, Billbee is able to strengthen its expertise in VAT compliance and invoicing and broaden its product range.

Scope of Work

Code & Co. conducted a thorough evaluation of amainvoice, focusing on the technological, product, and engineering aspects of the amaZervice's operations.

The analysis included a deep dive into amainvoice's architecture, infrastructure, technological stack, and deployment strategies. Additionally, Code & Co. analyzed the company's product management practices, customer support operations, performance indicators, customer onboarding procedures, and the amainvoice's development roadmap.

Code & Co also. delved into the company’s engineering practices, including the software development lifecycle, knowledge sharing practices, and quality assurance processes.  

About amaZervice

amaZervice GmbH headquartered in Wildpoldsried is a leading provider of VAT compliance and invoicing solutions.Founded in 2010, the business has grown consistently and serves over 2,500 clients today which are active as Amazon merchants. It’s product functionality includes automated creation of digital documents required for invoicing, accounting, and VAT compliance (in particular in relation to international VAT returns and cross-border stock movements).  

About Billbee

Billbee is a leading SaaS solutions provider from Twisteal in northern Hesse, Germany. It offers a comprehensive but easy-to-use order processing, merchandise management, and automation solution for sellers who sell products via one or more (online) channels.

All relevant processes in the retail environment, from customer communication to shipping and after-sales, can be mapped by Billbee or directly connected and integrated partners. There is also a strong focus on making the solution attractive for smaller companies in terms of complexity and price without sacrificing the scalability necessary for larger companies.

About Bregal Unternehmerkapital


Bregal Unternehmerkapital (BU) is a leading private equity firm with offices in Zug, Munich and Milan. As part of a family business that has grown over generations, the funds advised by BU invest in medium-sized companies headquartered in Germany, Austria, Switzerland, and Northern Italy, covering a wide range of industries. In its efforts to be the partner of choice for entrepreneurs and family businesses, BU focuses on partnerships with market leaders and "hidden champions" with a strong management team and great growth potential. Since its foundation in 2015, the funds advised by BU have invested over 2.7 billion euros in more than 100 companies and supported over 20,000 employees. In close partnership with entrepreneurs and families, their companies are further developed,internationalized, and digitalized - so that sustainable value is created on a responsible basis for the next generation.

For more information, please visit www.bregal.ch or find them on LinkedIn.