Today, Konsolidator signed a non-binding Letter of Intent (LoI) to open a sales office in Madrid covering Spain and Portugal – the Iberian market.
The office will be led by a Spanish country manager and his sales team, who have extensive experience selling financial consolidation software. The final agreement is expected to be finalized in March 2024, and the operation to commence on April 1, 2024.
The business plan outlines the staffing of 5-7 employees located in Madrid, covering all the sales and marketing activities in Spain and Portugal. The business plan for Iberia is built on the expectation that the annual recurring revenue will grow by more than DKK 2m per year after a 3-month start-up phase.
Furthermore, the agreement creates an opportunity for Konsolidator to start selling Konsoldator® in South America.
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