M&A advisory services in Colombia

Colombia's M&A market for technology businesses has deepened materially as the Rappi generation of alumni recycles capital and as international strategic buyers enter the market seeking regional distribution.

Exits have come across fintech (Bold, Truora), proptech (Habi, La Haus) and B2B commerce (Frubana, Tul), attracting PE sponsors and strategic acquirers from the US, Europe and across Latin America.

Flow advises Colombian founders - bootstrapped and venture-backed alike - through full sale processes: KPI-driven preparation, buyer identification across our PE and strategic acquirer network, lean process management and deal structuring tailored to the Colombian S.A.S. and Delaware-parent conventions that govern most exits.

Colombia tech M&A deals in the last 12 months

Colombia median tech M&A valuation

Colombia median tech M&A revenue multiple

Colombia biggest tech acquisition in the last 12 months

Selling your tech company in Colombia

Colombian M&A follows Latin American mid-market conventions with country-specific overlays around DIAN, the S.A.S. structure and the Banco de la República FX registration regime.

Completion accounts dominate

Colombian private M&A is predominantly completion-accounts based, with detailed working-capital target and adjustment mechanics. Locked-box has limited adoption.

W&I insurance is growing

Warranty & indemnity insurance is becoming more common in Colombian deals above roughly USD 25M. Premiums (2-3% of cover) typically split between buyer and seller.

SIC merger control

Superintendencia de Industria y Comercio (SIC) reviews transactions above the relevant turnover and asset thresholds. Most pure-tech tuck-in deals don't trigger; large strategic deals routinely do.

Capital gains for founders

Colombian individuals are taxed on share disposal gains at 15% (occasional gains) when held over two years, or as ordinary income at higher rates if held less. Offshore holding structures (Delaware) materially shape the post-tax exit outcome.

Cross-border tax considerations

Most material Colombian tech exits involve offshore (Delaware) holding entities. Colombian indirect transfer rules can apply to sales of foreign entities deriving substantial value from Colombian assets. Requires careful pre-sale planning.

Sectoral foreign investment

Specific Colombian sectors (financial services, broadcasting, defence) have foreign ownership caps and approval requirements. Most pure-tech transactions operate without sector-specific approval; worth checking at LOI stage.

Recently acquired tech companies in Colombia

Disclosed M&A deals in Colombia in the last twelve months, ranked by valuation.

See all M&A deals in Colombia

	Logo		Description	Buyer
Apr-26		Instaleap LLC	Instaleap LLC develops fulfillment and delivery software for retailers entering e-commerce. Miami-headquartered, it powers dark stores and micro-fulfillment centers for clients including Walmart, Falabella, and HEB in Latin America and the US. The platform optimizes picking, packing, routing, and last-mile delivery to achieve same-day service levels across grocery and general merchandise categories.	Instacart	-	-
Mar-26		Border0	Border0 runs a platform for secure, seamless connections that enhance productivity and innovation.	Tailscale	-	-
Oct-25	M	Meraki Software Technologies	Meraki Software Technologies is a software development firm specializing in custom applications and technology solutions.	Babel Group	-	-
Jul-25		Data101	-	QUEKA REAL PARTNERS	-	-
Jun-25		tutum	tutum GmbH is a German software company that automates document-driven administrative processes for small and mid-sized enterprises. Its no-code platform handles invoice processing, contract management, HR workflows, and compliance checks using AI-powered OCR and integration with tools like DATEV and SAP. Based in Berlin, tutum serves industries including construction, logistics, and manufacturing across Europe.	Zvoove Group	-	-

Who is buying tech companies in Colombia?

Babel Group, QUEKA REAL PARTNERS and Tailscale are the most active acquirers in Colombia.

See all acquirers in Colombia

Logo		Description	Key acquisitions
B	Babel Group	Babel Group is a London-headquartered cloud communications platform enabling enterprises to manage global customer interactions via voice, messaging, and digital channels.	Meraki Software Technologies	1
	QUEKA REAL PARTNERS	QUEKA REAL PARTNERS is a Madrid-based private equity firm investing in mid-market Spanish companies across real estate, consumer goods, and services sectors. The firm manages over €200 million in assets, targeting control stakes in businesses with EBITDA between €5 million and €20 million. QUEKA has completed deals in hospitality properties in Barcelona and industrial firms in Bilbao, leveraging partners' 50 years of experience in corporate management. It focuses on value creation through operational improvements and international expansion.	Data101B2comSmartgroup Soluciones Integrales+1	1
	Tailscale	Tailscale is a Toronto-headquartered software-defined networking service that creates secure private networks via the WireGuard protocol for teams and enterprises. Launched in 2019, it enables peer-to-peer mesh connections across devices on Windows, macOS, Linux, iOS, Android, and supports Kubernetes clusters on AWS, GCP, and Azure. The platform authenticates users through providers like Okta, Google Workspace, and integrates zero-trust access controls without VPN gateways. Tailscale serves over 100,000 organizations, including GitLab and Stripe, reducing setup time to minutes and latency by bypassing centralized servers.	Border0	1
	Zvoove Group	Zvoove Group is a German software provider for personnel management and event services. Based in Berlin, it offers cloud-based platforms for shift planning, applicant tracking, time tracking, and event staffing solutions. Zvoove serves hospitality, retail, and event industries across Europe with mobile apps for employee self-service and analytics for workforce optimization.	tutumKleanAppadata Software+2	1
	Instacart	Maplebear (Instacart) is a grocery-focused delivery marketplace that connects national and regional grocers with consumers and couriers, and consumers with their favorite stores. Its app provides on-demand convenience for consumers, allows couriers to earn income, and helps grocers to scale their business through digital channels. The marketplace gathers valuable consumer behavior data, attracting consumer-packaged-goods advertisers that seek to reach consumers at the point of purchase. With approximately 600,000 shoppers and 1,800 retail partners, Instacart delivers to about 98% of households in the United States and Canada.	Instaleap LLCWynshopRosie+1	1
	Bold	Bold is a payment solutions provider for small and medium-sized businesses in Latin America. Its card processing system accepts contactless, chip, credit, and debit transactions from national and international networks. The accompanying mobile app displays real-time transaction details, processing fees, and sales reports to help merchants expand revenue streams.	TuilyVendeMás	1
	Girasol Payment Solutions	Girasol Payment Solutions is a Nairobi-based provider of payment gateways and processing software for banks and merchants in East Africa. The platform supports mobile money integrations with M-Pesa and Airtel Money, card acquiring via Visa and Mastercard, and white-label POS terminals deployed in 5,000 retail outlets across Kenya and Uganda.	FinZi	1
	Sumer	Sumer is a technology platform for micro and small businesses in Latin America, enabling digital stores via a mobile app in 15 seconds. Merchants upload product catalogs, manage digital ledgers, and run targeted ads to boost sales. Bogotá-headquartered since June 2021, it operates offices in Mexico City and expands features for customer service, payments, and financing across high-mobile-penetration markets.	Preki	1
	AntartycA	AntartycA is a Santiago-based SAP consulting firm providing implementation, outsourcing, training, and support for enterprise resource planning systems. The company serves Latin American clients in manufacturing, retail, and services with customized SAP S/4HANA migrations, cloud deployments, and process optimization projects.	Agrupo Sistemas	1
	Topaz	Topaz delivers technological solutions for financial services.	Valid (payment unit)Cobis	1

Why Flow Partners as your M&A advisor

We operate across four fundamental principles that over the years enabled us to successfully advise many Colombian companies.

Access to relevant buyers

We have extensive network and direct access to world's most prominent financial and strategic buyers, cultivated through years of successful M&A track record across bulge bracket investment banking.

No corporate red tape

We run lean deal processes, without BS, unnecessary time-wasting efforts and corporate inefficiencies. Our approach values candor, transparency and high-impact work to make sure great deals get done.

Thorough preparation

KPI-driven storytelling is more art than science. We have unmatched understanding of digital businesses and are experts in building sharp equity stories that present your business in a clear, concise manner.

Optimize value, not valuation

Valuation is only one side of the medal. We help creating attractive and efficient transaction structures that bridge incentive gaps between sellers, buyers and management teams.

We provide M&A advisory services across Colombia and beyond

Sector expertise

Explore our M&A advisory offering across a variety of tech sectors in Colombia.

Software

Vertical and horizontal SaaS, AI-native software products, infrastructure SaaS, cybersecurity

AI & ML

Foundation models, AI applications, AI infrastructure, semiconductors, AI consulting

Fintech

Neobanking, online payments, fintech infrastructure, lending platforms, wealth tech, online brokerage, vertical FS software

Consumer internet

Consumer software subscription platforms, edutech, online content, social networks, online dating

Digital media

Streaming platforms, mobile and console gaming, content distribution, digital publishing, VR & AR

E-commerce & marketplaces

Consumer and B2B marketplaces, inventory-based e-commerce, classifieds, lead generation platforms

Consumer products

Direct-to-consumer (D2C) brands, consumer electronics, smart home devices, lifestyle products

Mobility

Ridesharing, micromobility, food delivery, logistics tech, autonomous tech, EV charging infrastructure

Digital health

Digital therapeutics, telemedicine, mental health solutions, EHR and practice management, vertical healthcare SaaS

Industrial technology

Industry 4.0 solutions, 3D printing, climate tech, industrial IoT, robotics, smart manufacturing

Digital infrastructure

Data centers, cloud infrastructure, edge computing, network security, vertical infrastructure SaaS

IT services

Software development and testing, digital transformation, cloud services, advertising agencies, IT support services

Selected case studies

We've closed sell-side and buy-side transactions across European, US and emerging-market tech.

Our M&A track record spans strategic exits to corporate acquirers, PE buyouts, and cross-border deals where regulatory and structuring complexity actually matters.

See all case studies

We acted as exclusive sell-side advisor to MAILINGWORK, a Chemnitz-based email marketing software platform, on its sale to French digital marketing leader Positive Group.

Recently completed M&A advisory projects

Selected M&A transactions and prior deal experience.

M&A

Polish publicly listed diversified industrial firm

M&A

German email marketing software platform

M&A

German software testing provider

M&A

Leading provider of testing, inspection, and certification services

M&A

Spanish neobanking platform for Gen Z and Millennials

M&A

Online price comparison and booking platform for rental cars

M&A

Digital testing, cybersecurity, content and digital forensics provider

M&A

Online casual dating platform for curious individuals

M&A

European DAM software provider

M&A

$3bn acquisition by Blackstone. Family of online dating brands (Badoo, Bumble, Chappy, Lumen).

M&A

€135m acquisition by Takeaway. Leading B2B online food delivery platform in Israel.

M&A

€80m acquisition by Zur Rose. Online e-commerce platform for pharmacy, beauty and wellness.

M&A

$200m acquisition by EMK. World's largest data collection and transformation platform.

M&A

Acquisition by ProSiebenSat.1 / General Atlantic. Online marketplace for household products and services.

M&A

€300m acquisition by Oakley Capital. Leading European online matchmaking platform.

M&A

Acquisition by Axel Springer. Leading Israeli online classifieds platform (jobs vertical).

M&A

$800m acquisition by Adobe. Marketplace for royalty-free images, graphics and HD videos.

M&A

€80m acquisition by Lifull. Spanish vertical search engine for real estate, cars and jobs.

M&A

Acquisition by Oakley Capital. Italy's largest online car insurance, gas and electricity brokerage.

Strategic Advisory

Strategic advisory. Cashless mobile taxi app connecting passengers to nearby taxis.

M&A

Acquisition by IAC. Digital social media platform for Q&A.

M&A

$228m acquisition by Axel Springer. Israel's leading classifieds and advertising portal.

M&A

Acquisition by Quant. Turkish membership-based daily deals site.

M&A

€320m acquisition by Bonnier. Pay television company across the Nordic region.

Minority Acquisition

€290m minority acquisition by News Corp. German direct broadcast satellite Pay TV (DACH).

M&A

€3.2bn acquisition by ProSiebenSat.1. European media group (TV, radio, print).

M&A

€3.1bn acquisition by KKR and Permira. German mass media and digital company.

Got questions?

Schedule a call ordrop us an email to learn more about our CFO-as-a-service, capital raising and M&A advisory offering.

Unlike traditional M&A advisors, we truly understand tech businesses and the unique challenges they face. Our investment banking background combined with deep sector expertise allows us to build compelling equity stories and navigate complex transactions.

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M&A advisory services in Colombia