Xero Purchases e-invoicing Company Tickstar

Accounting software firm Xero looks set to grow with the acquisition of Tickstar, an e-invoicing firm based in Sweden.

Xero states that the buyout will help its customers digitize their workflows and get paid faster using cloud technology.

The acquisition occurs in the same month that the firm also purchased workforce management company, Planday.

Considering Xero? Read our guide to Xero versus QuickBooks

The Xero Acquisition of Tickstar

Tickstar are a Swedish company specializing in e-invoicing, founded in 2007. The firm already worked with Xero prior to the acquisition, providing its invoicing solution. But now, Tickstar will sit under the Xero umbrella as a subsidiary.

The purchase looks set to cost Xero around SEK 150 million ($17.2 million) in total, although this sum depends on targets achieved and product development, with 50% payment in cash, and 50% in shares in Xero limited.

According to a press release, Xero will use Tickstar’s existing technology to support its e-invoicing infrastructure services through the Galaxy Gateway, for both new and existing companies, alongside its consulting services.

“The acquisition of Tickstar is an important step in our strategy to help small businesses digitise more of their workflows and get paid faster using cloud-based technologies” – Xero chief product officer Anna Curzon

Xero’s Recent Acquisitions

Tickstar is the latest in a long line of acquisitions for Xero, and it shows no sign of slowing down. Earlier in March, it purchased the workforce management company Planday for $217 million.

In August of last year it purchased Australian lending platform, Waddle, for $61 million.

Previous to this its last acquisition was in 2018 (UK-based tax filing solution Instafile, for $7 million). Three recent buyouts in less than a year show signs that Xero is keen to expand its reach and bolster its current position.

Xero’s Accounting Software Solution

In our review of Xero, we were impressed with its offering and dubbed it the best choice for online businesses. This is thanks to its integrations with popular online platforms such as Squarespace and Square Online.

It also integrates with the likes of Amazon, Etsy and other ecommerce sites, and boasts impressive mobile apps.  We also liked the pricing, which is cheaper than some of the big competitors in the space, like QuickBooks.

Read our guide to the Best Accounting Software for Small Business

The acquisition of Tickstar looks set to only improve Xero’s already excellent offering.

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		Starting price	Free trial	Best for	Pros	Cons	Try now
FreshBooks	Xero	Zoho Books	FreeAgent	QuickBooks
$23/month $1/month for a year	$27/month $5.40/month for the first 3 months	Free	$27/month Currently discounted to $13.50/month for first 6 months	$20/month $10/month for first 3 months
30 days	30 days	14 days	30 days	30 days
New businesses	Experienced accountants and established businesses with complex financial needs	Integrations	Budget-conscious businesses	Businesses needing advanced financial insights and customization
Competitive pricing Time-tracking features with invoice compatibility 24/7 customer support options	Over 1,000 third party integrations Useful client portal for self-service needs Robust fixed asset tracking functionality	Extensive data import/export features Time tracking tools with billable hours conversion Highly effective transaction documentation	Simple, low cost pricing options for businesses Built-in tax forecasting tools Helpful cash flow alerts for surpluses/shortfalls	Extensive analytics template customization Automatic alerts for mismatched balances Built-in cash flow projection tools
Limited functionality in mobile app No forecasting or budgeting features No multi-currency invoicing available	Steep learning curve for advanced features Outdated, poorly designed interface Must give one-month notice before cancellation	Higher than average transaction fees No customer support outside business hours Limited non-Zoho integrations	Overly complex and unhelpful support options Difficult to navigate for basic feature usage Cannot import invoices directly from a computer	Initial learning curve is quite steep No time-tracking features Support resources sometimes fail to load
Try FreshBooks	Try Xero now	Try Zoho Books	Get Quotes	Try QuickBooks

Written By

Jack Turner

Jack is the Editor for Tech.co. He has over 15 years experience in publishing, having covered both consumer and business technology extensively, including both in print and online. Jack has also led on investigations on topical tech issues, from privacy to price gouging. He has a strong background in research-based content, working with organizations globally, and has also been a member of government advisory committees on tech matters.

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