Polish IT giant Euvic acquires stake in Ukraine’s WeExpert
SLASKIE, POLAND — Euvic Group, one of Poland’s largest IT service companies, has acquired a 25.1% stake in WeExpert, a Ukrainian platform designed to simplify freelancing by handling legal and accounting tasks for its users.
The platform allows freelancers to work with clients without the need to establish a company, streamlining the invoicing process. The transaction was announced by WeExpert’s CEO, Yurii Gulets, in an interview with Forbes Ukraine.
The acquisition marks Euvic’s fifth deal in the Ukrainian market since Russia’s full-scale invasion.
WeExpert: Simplifying freelance work
WeExpert, founded in Wroclaw in 2022 by Gulets, Roman Bezzubchenko, Serhii Pronin, and Yehor Yehorov, has quickly established itself as a valuable resource for freelancers.
In just 18 months, the company has built a network of over 530 freelancers and services more than 2,000 clients. The platform’s success is reflected in its 2023 revenue, which surpassed $6 million, with an additional $4 million earned in the first half of 2024.
“What attracted us to WeExpert was primarily their business model, which deeply understands the situation of IT specialists and recognizes their needs,” said Łukasz Czernecki, Vice President of Euvic S.A.
“At the same time, it connects these needs with the business sector’s demand for easy access to high-quality skills and services from individual IT specialists.”
WeExpert operates offices in Warsaw, Wroclaw, and Katowice, employing over 100 people.
Euvic Group’s strategic investment in WeExpert
This strategic partnership is expected to benefit both companies, with Gulets noting, “Cooperation with Euvic Group made it possible to increase the business margin and reach a new level of recognition.
“Now all freelancers who have lost a customer or want to change a project can get a project from Euvic,” Gulets added.
The total investment in WeExpert amounts to €1.5 million (US$1.7 million).
Euvic Group, founded in 2005, has grown to become a major player in the IT services sector, with 6,000 specialists. The company’s 2022 revenue reached $320 million, nearly doubling its 2020 figure of $184 million.
