Plain Vanilla Investments has sold its portfolio company Euphoria Mobility to Sofindev

August 2025 — Sofindev has reached an agreement with the shareholders of Euphoria Mobility, including private equity firm Plain Vanilla Investments, to acquire a majority stake in the company. This strategic partnership will enable Euphoria to accelerate its European expansion, reinforce its presence in the Benelux region and further enhance its product offering.

Alongside the founder and two directors, the broader management team will also join the shareholder base with Sofindev, underscoring their confidence in Euphoria’s growth strategy and their commitment to innovation, quality and customer value. Sofindev will acquire shares from the Dutch private equity firm Plain Vanilla Investments, which has been Euphoria’s cornerstone investor since 2022, alongside the company’s founder, Leon Van Lier.

Founded in 1993, Euphoria provides private transportation companies with a vendor-independent, fully integrated software platform for trip planning, booking, dispatch, ride registration and mobile data communication. Its technology supports hundreds of public and private fleet operators across the Benelux, Norway, Finland, Sweden and the UAE, forming the backbone of their daily operations. The platform seamlessly integrates with ERP, billing and route-planning systems, delivering real-time operational data that helps clients boost efficiency, comply with regulatory requirements and enhance the passenger experience. Euphoria has established itself as the market leader in the Benelux and has demonstrated a strong track record of international expansion. Its proprietary hardware and software solutions provide a unique, fully integrated offering that fosters long-term customer loyalty.

Sofindev is a leading independent private equity firm specializing in buy-outs and growth capital for small and medium-sized enterprises (SMEs) in the Benelux region. Founded in 1991 by two prominent listed family companies, Sofindev has since evolved into a fully independent team, backed by a diverse group of respected family offices and international institutional investors. These include entrepreneurs and former owners of businesses in which Sofindev has previously invested.

With this new partnership, Euphoria is set to accelerate its international growth and the rollout of its innovative product portfolio. Backed by Sofindev, the management team aims to expand the customer base and reseller network in the Nordics, scale up the commercial deployment of its AI-driven route-planning software and capitalize on the ongoing device migration wave in the Netherlands.

“We are delighted to announce this milestone partnership with Sofindev. We are proud of what we have achieved — particularly in recent years with Plain Vanilla Investments as a shareholder — and look forward to further scaling the business with a partner who understands our sector and culture, and shares our long-term vision. It is equally rewarding to welcome more members of our team as shareholders, a clear reflection of our shared ambition and collective strength,” said Toshin Tjin-A-Sie, CEO of Euphoria.

Our role in the transaction

Oaklins’ teams in the Netherlands and Ireland acted as the exclusive sell-side advisors to the shareholders of Euphoria. This transaction builds on Oaklins’ strong track record in enterprise software and mobility technology, while further deepening insights into SaaS business models, sector-specific valuation drivers and the evolving European software investment landscape.