HgCapital has backed Trace One, the market leading SaaS product for the retail and private label goods sector. 

This is another example of the great vertical market SaaS companies that are being built and backed in Europe. The high quality recurring revenues associated with SaaS models are very attractive to private equity backers. 

European entrepreneurs now have a greater range of options when considering how to grow their companies. It is not just about a trade sale to a major US strategic. In fact, over the last two years, many of Europe's most successful tech companies, such as Fourth, Skyscanner and CarTrawler, have chosen private equity rather than trade. 

Congratulations to Jerome and the team at Trace One and HgCapital.