Why US investors overpay for SaaS — and what Europe offers instead

Framing

US SaaS bidding reflects liquidity, narrative, and index flows. European counterparts often embed similar unit economics with lower headline multiples — not because quality is lower, but because the buyer universe is thinner and processes are narrower.

Arbitrage, not tourism

Moving capital across the Atlantic without local structuring and governance discipline converts a thesis into risk. The edge is in pairing US cost of capital with European entry prices and hands-on operational leverage where required.

Signal we watch

We focus on assets where revenue quality, churn, and expansion metrics support a US-style story but pricing still reflects a regional clearing level. Those gaps close when the right sponsor shows up with a credible integration path.