Code & Co.

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Engagement — Add-on Due Diligence

Code & Co. provides Tech & Product Due Diligence ahead of the acquisition of B2B sales software Tendex.

The market-leading B2B sales enablement platform ComX, a FLEX Capital portfolio firm, is entering into a partnership with the two B2B sales platforms Tendex and Global Sales Leaders (GSL), thereby laying the foundation for becoming a future leading group for sales enablement.

Tendex offers B2B sales software aimed at streamlining the process of acquiring and converting qualified leads. With the help of its software platform, clients interact solely with high-potential leads through their personal sales funnel, optimizing their time and efforts toward prospects eager to buy.

Scope of Work

Code & Co. provided Tech & Product Due Diligence to FLEX Capital and ComX. This included an assessment of Tendex’ multi-channel platform, operations, and product roadmap. Code & Co. also analyzed the product's scalability and stability, its integrations, and third-party strategy, identifying areas for improvement and flagging potential risks to be addressed.

About Tendex

Founded in 2022 in Munich, Tendex assists companies in automating their outbound processes to generate more new customers. Tendex provides a sales platform where decision-makers in the company's target group can be reached through LinkedIn, mail, and email channels in a personalized and structured manner. These efforts yield qualified leads back to the company. Currently, over 250 customers are utilizing Tendex's services. More information at

About FLEX Capital

FLEX Capital is a private equity fund that was founded by successful serial entrepreneurs and invests in profitable and growing German internet and software SMEs. The second fund of EUR 300 million, announced in early 2023, contains for the first time a commercial structure that enables FLEX Capital to provide operational support to portfolio companies with a specially built team of 30 experts, which sets the investor apart from many other private equity funds. The FLEX portfolio currently includes 14 German SME pioneers across six company platforms. For more information, visit

About ComX

ComX is a market-leading B2B sales platform for companies with services and products that require explanation. It is the only company in the world that offers a solution for the entire sales value chain. The company makes it possible to win new customers strategically by shortening sales cycles to a few days through automation and digitization of processes, making every step of the deal cycle measurable and thus building millions in new business. More information at

About Code & Co.

Code & Co. is an independent advisory firm specializing in advising funds in the global alternative investment industry with modern and holistic Tech & Product Due Diligence. Code & Co’s Tech & Product Due Diligence uncovers potential risks threatening asset value and unlocks opportunities for accelerating growth.