Wolters Kluwer pays 325 million euros to acquire Codabox, Clearfacts, Clearnox, Flowin and Zoomit from Isabel.

The Belgian fintech company Isabel is selling its accounting solutions to the Dutch company Wolters Kluwer Taks & Accounting. Codabox, Clearfacts, Clearnox, Flowin and Zoomit are available without a prescription. Wolters Kluwers is paying 325 million euros for the purchase.

Zoomit is undoubtedly Isabel’s best-known solution. Zoomit enables companies to pay invoices directly into a bank’s online platform. From there, users can then pay immediately. Almost all major banks use it.

The other solutions are mainly known in the accounting world. Codabox ensures the digitization of an accounting office via digital bank statements, bank statements, invoices and payroll data, ClearFacts provides a digital highway between accountants and entrepreneurs, Clearnox takes care of the outstanding invoices and Flowin is used for electronic invoicing.

New focus

Isabel wants to separate itself from accounting-related services in order to focus more on solutions for payment transactions. Isabel6 bundles relevant information from 26 banks and is the mainstay, but Ponto and IntelliSuite are also important for Isabel. In order to exchange verified company data, the fintech is now also launching Kube.

“This realignment of our product portfolio enables us to offer even more targeted solutions to our customers’ digital challenges in the areas of payments, integrated financial management and the provision of reliable business data,” says Kris De Ryck, CEO of Isabel, Sales.

“Isabel plays a fundamental role in the Belgian economy and we will continue to do so,” adds Bram Somers, CEO of Isabel. Our renewed focus on payment services and providing verified data to companies and institutions in Belgium confirms our commitment to further strengthen the multibank financial infrastructure and services and to stimulate innovation in the service of our customers.”