Blika's CEO Peter Öhling at the office in Stockholm

Blika increases revenue by 30 percent in 2020: “We see huge potential for further growth”

16 March, 2021

News

The year 2020 was a successful year for Blika, growing their revenue stream by over 30 percent, signing new clients from all over Europe, and attracting talented coworkers to the company. The objective ahead is to maintain the growth, both in Europe and abroad, with focus on a few key markets such as Germany.

“2020 has been a year of significant growth financially, as well as in our customer base and product developments. We will continue to strengthen and improve our market-leading platform and help legal and tax departments all over the world to automate their work and take their first steps towards digitalizing their departments”, says Peter Öhling Ekenstierna, CEO of Blika.

Blika's CEO Peter Öhling at the office in Stockholm

Blika’s CEO Peter Öhling Ekenstierna at the office in Stockholm.

For the last couple of years, Saas provider Blika has steadily grown by between 30 to 40 percent each year, having attracted large companies from around the world. And 2020 is no exception, with a revenue growth of more than 30 percent.

Their success is mainly attributed to sales of the new mandatory disclosure module and sales of a broader platform solution for tax and legal departments. Recurring revenue makes up more than 70 percent of the total revenue, making Blika’s financial position strong and well placed to keep capitalizing on the increasing interest for digitalization solutions for tax and legal departments.

“Over the past year we have signed many new clients. Complex regulations combined with our digital solution make a good match, and we see great potential for further growth. One of our goals for 2021 is to strengthen our marketing and sales activities both in a broader scope and with additional focus on a few key markets. One example of these key markets is Germany.”

“We have focused on the German market for years. It has many international companies, which in turn means large potential for long-lasting clients. Automation is high on the agenda in 2021, and large companies need system support.”

Considering competition, Peter does not see any significant threats on the horizon.

“The tax and legal digitalization markets are large, and I do not see any obstacles in our path to succeed and continue growing by 30 percent annually. We make constant improvements in our platform, a requisite to success and stay updated with regulations, technical developments, and new ways of working”, says Peter Öhling Ekenstierna.