Israeli Fintech company Morning is set to be acquired by Italian software firm TeamSystem for an estimated $150 million, according to sources cited by CTech.
The sale represents a major milestone for Morning, which is best known for its “Green Invoice” SaaS platform offering invoicing and business management solutions tailored for small businesses, the report said.
The acquisition is expected to deliver significant returns to Morning’s key stakeholders.
Founders CEO Lior Wilczynski and CTO Rami Gabai, who each own 30% of the company, are set to earn approximately $45 million each. The Fortissimo investment fund, which holds a 40% stake, is also positioned to benefit from the transaction.
Fortissimo, led by Yuval Cohen, invested $20 million in Morning in 2021 at a valuation of roughly $50 million.
Morning informed its employees of the sale, and the founders are expected to continue in their current leadership roles.
Founded in 2011 as “Green Invoice,” the company was established by Wilczynski and Gabai, both 48, who met during their studies in computer engineering at the College of Management.
Inspired by challenges they faced while managing their own business, the founders developed solutions to simplify business management for self-employed professionals and small enterprises.
The company serves approximately 150,000 customers across Israel and employs 100 staff, all based locally. In addition to its flagship Green Invoice platform, Morning recently introduced CPA, a digital tool aimed at enabling accountants and representatives to manage client portfolios efficiently.
Unlike many Israeli fintech firms that prioritize international markets, Morning has focused on developing its offerings for the domestic market. The buyer, TeamSystem, is an Italian private company specializing in business management solutions for small and medium-sized enterprises.
The acquisition highlights the growing interest of global firms in Israel’s thriving fintech ecosystem.