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Itello ranks 5th among 50 largest SaaS companies in Sweden

Breakit has qualified, together with their partner Netsuite, Sweden’s 50 largest and fastest growing SaaS companies in the Breakit SaaS report 2020 - and ranked Itello as number 5.

By analyzing recent annual reports and interviewing some of the leading industry representatives, they have identified trends and success factors among the most profitable SaaS companies in Sweden.

In the report, readers can take part of this unique mapping of the SaaS companies, which also includes:

  • Turnover, results and number of employees
  • Analysis of all 50 companies on the list - what are the success factors and what lies behind the results
  • Sales development

The cloud enables us to do what we do best; provide the Nordic market's leading Policy Administration System Inca for the life insurance and pension industry. In partnership with Microsoft, Itello combines the Nordic market's leading PAS with Microsoft Azure, the leading cloud services for finance, banking and insurance.

Mats Lillienberg VD / Itello

Breakit’s description:

Itello made a major acquisition last year when the company acquired Eikos AS, which provides services and systems solutions for the life insurance and pensions sector in Norway. Itello has set its sights on continued growth and has a strong owner in the form of the venture capital company Monterro, which has been involved in building many software successes.


Itello is delighted to be recognized by the SaaS community and proud to be ranked number 5, in competition with some of the largest SaaS companies in Sweden. This recognition indicates the competitive strength of Itello and Itello Live.

With Itello Live, Itello has taken another step to offer the sector's players a holistic solution for a modern and future-proof IT platform. By offering an alternative to the sector's traditional reliance on bespoke systems, Itello's technology has changed the Nordic field for business systems for life insurance and pension funds.


The digital transformation currently in progress is changing the conditions for our customers' business operations. Efficient application operation is essential for meeting the market's increasingly challenging demands – which is why an increasing number of pension providers are turning to cloud-based SaaS services. Our leading position as a provider for Nordic pension providers has given us a deep understanding of the sector's future needs and how they balance against the regulated reality.

Salifou Bah Head of the SaaS business / Itello



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