Trajectory — SaaS companies & entrepreneurs
Sustainable growth doesn't happen by accident.
We work embedded in your company, for one to three years, at the pace of your strategic committee. One obsession: customer retention, served by a product strategy placed at the heart of your customers' businesses. A sale is not the goal — it is the decision you take the day the indicators are green.
The value creation plan
Alongside the CEO, not inside a report.
We commit for the long term, embedded in your organisation: a weekly session with your teams, a seat at the strategic committee, deliverables measured on the P&L — not recommendations left on a shelf. Our backbone: the Value Creation Plan. We sweep seven workstreams, score the maturity of each, set the gap to an attainable target — then convert every gap into ARR or EBITDA impact. Nothing enters the plan that does not translate into revenue or margin. Steering then runs on the KPIs that matter: ARR, NRR, churn, Rule of 40.
Current maturity by workstream — illustrative. The target is never the theoretical maximum: it is the level the company can actually hold over the life of the plan.
Four workstreams drive growth — positioning, product, packaging & pricing, new business and retention; growth is measured on ARR. One drives productivity, measured on EBITDA. AI acts on both, and it is the only one that does: it raises what your product delivers to your customers, and it frees up time across the whole organisation — nine functions, from client support to the executive team, R&D included. Financial steering produces neither directly — it makes the rest measurable, and the company legible to an acquirer. Depending on the company, one workstream is open, or all seven. Below, the four forms our engagement takes to run them.
01 — Product strategy & retention
The product at the heart of your customers' businesses
Positioning, roadmap, pricing: we build with you an impactful product strategy, with customer retention as the ultimate judge.
02 — AI strategy
Your domain expertise, multiplied
From assessment to deployment: we help software companies combine their domain knowledge with AI to augment their product and their customers' efficiency — an opportunity to seize now. See the AI strategy for software companies →
03 — Business model transformation
Towards a continuous service — and the recurring revenue that goes with it
Pivoting from a services or consulting model to SaaS: your client stops buying one-off deliveries and receives a service held over time. Rebuilding the business plan, charting the margin trajectory: we structure the transformation and hold it over time.
04 — External growth & strategic combinations
From conviction to closing
Acquisitions, fundraising, strategic combinations: we connect you to the industrial players and funds most representative of the market, then run the transaction — NDA, pre-due diligence, LOI, data room, negotiation, closing.
Place your company
What we are not
We do not just hand over a report.
The assessment, the plan and the financial model exist. What matters comes after: the same team puts them to work.
We do not live off billable time.
A small fixed fee covers the engagement. The bulk of what we earn is tied to the value created.
We do not show up for the transaction.
We are there one to three years before it, and through to closing on the day you decide it happens.
We do not advise your teams.
We work with them, embedded — as if we were part of the company.
We never take two mandates on the same transaction.
One principal, always.
Our engagements
Alongside CEOs, for the long run.
Long-term engagements with software companies and platforms transforming their markets.
References — case study
Stonal × Aareon — an investment of up to €100m.
The starting point. Stonal, the leading AI-powered real estate data platform, is reaching the end of its first cycle: the startup has become a mature SaaS company. To fund its acceleration, a fundraising round is under way — at the cost of diluting the historical shareholders. The founding shareholders entrust Reabel Partners with a strategic review of their options.
The recommendation. Reabel Partners' analysis concludes that a combination with a large strategic operator would better serve the company's long-term growth, the value of the road already travelled, and the interests of shareholders and employees alike. Reabel defines the profile of the ideal operator — a European proptech leader with a synergy-creating portfolio —, identifies Aareon, Europe's leading provider of real estate management software, and presents the opportunity to them.
Execution and outcome. Interface for the shareholders throughout the process — deal structuring, defence of their interests, coordination of the parties — through closing. In May 2024, Aareon announces an investment of up to €100m in Stonal, which now deploys its platform across Europe within the group. The deal announcement on LinkedIn →
La Boîte Immo × Opinion System.
Deal structuring, valuation, strategic alignment: Reabel Partners ran the acquisition of Opinion System with La Boîte Immo, the leader in certified customer reviews for real estate — a combination that elevates the group to mid-cap scale.
Frequently asked questions
What CEOs ask us.
How does an engagement start?
By fixing what your company is worth today, before we have touched anything — that is the reference for everything that follows. Then a maturity assessment, SaaS and AI, which establishes the gap between where you are and where you can go. The plan comes after, never before.
How far do you go into our product strategy?
All the way: positioning, roadmap, pricing, portfolio trade-offs. We do not hand over a recommendation, we build it with your product teams and we hold it over time. If the product does not move, the valuation does not move.
How is financial performance steered?
Through a costed plan and a dashboard that stays yours. The indicators that drive valuation — net revenue retention, churn, Rule of 40, contract mix — are tracked continuously, not reviewed once a year. That tracking is what tells you when the moment has come.
Who decides when to sell?
You do. The decision is taken together, on the day the indicators that drive valuation are green and the gap with the starting value is worth it to the shareholders. That gap has no fixed scale: it is set with you, context by context, at the start of the engagement. Our fee is tied to the value created: it does not reward a rushed transaction.
Who runs the negotiations?
We do, alongside you, from preparation to closing: data room, pre-due diligence, LOI, final negotiation. The same team that built the value defends it. Nobody picks up the file halfway through.
How is a SaaS company valued?
Not by a mechanical ARR multiple: valuation depends on revenue quality — net revenue retention (NRR), churn, Rule of 40, contract mix — product debt, and the synergies available to each acquirer profile. That is precisely what our pre-due diligence establishes before any price discussion.
Fundraising or a strategic combination: how to choose?
It depends on the life cycle. A pre-profitability hypergrowth company needs fuel: that is fundraising. A mature, profitable software company is often better served by a strategic combination, which crystallises the value created and protects historical shareholders — as in the Stonal × Aareon transaction we ran.
How long does the sale of a SaaS company take?
Six to twelve months from preparation to closing: NDA, pre-due diligence, LOI, data room, final negotiation. The real leverage comes earlier: the projects that actually move valuation — retention, contract mix, founder desensitisation — take two to three years.
What is the Value Creation Plan?
Seven workstreams swept, maturity scored on each, a gap to an attainable target, and that gap converted into ARR or EBITDA impact. Steering then runs on the KPIs that matter — ARR, NRR, churn, Rule of 40. Two versions exist by design: the one used to steer, exhaustive, and the one an acquirer reads, which keeps only what will still be material at the time of the deal.