General Atlantic has increased its stake in Odoo, acquiring a minority holding from Wallonie Entreprendre at a €7 billion valuation. The private equity firm first invested in the Belgian open-source software provider in 2023. This follow-on deal allows Wallonie Entrependre to retain a 3% stake after selling shares.

Odoo’s integrated suite for small and medium-sized enterprises covers finance, sales, HR, and marketing. Its open-core model supports nearly 40,000 applications, creating one of the largest business software ecosystems globally. Founded in 2002, Odoo now operates profitably in 180 countries, serving over 170,000 paying customers.

General Atlantic’s EMEA principal Andrea Calabro called Odoo one of the world’s most exciting software vendors, noting its rare growth at scale. The deal signals continued investor appetite for profitable, globally scalable platforms, even as broader tech valuations face scrutiny. Odoo’s top 15 markets are expanding over 30% annually.