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§ Venture Capital · Paris, France
startup studio that launches and builds SaaS companies, partnering with founders and providing seed funding, ideas, and strategic support.
eFounders is a startup studio based in Brussels and Paris that builds and launches Software-as-a-Service companies by providing seed capital, business ideas, and operational support to recruited co-founders. Operating under the parent organization Hexa since a 2022 reorganization, the firm works alongside entrepreneurs for up to eighteen months to establish independent businesses before stepping back from daily operations. The broader Hexa ecosystem has launched approximately 40 startups that have generated over $235 million in annual recurring revenue, achieved six exits, and created more than 2,800 global jobs. The studio's portfolio has reached a combined valuation of $5 billion, yielding an internal rate of return exceeding 50 percent for second-batch investors, and includes notable software companies such as Front, Aircall, Mailjet, TextMaster, and Mention. eFounders was established in 2011 by co-founders Thibaud Elzière and Quentin Nickmans.
Key people at eFounders.
eFounders was founded in 2011 by Julien Fissette (Entrepreneur in Residence | Co-founder of a new eFounders project) and Thibaud Elziere (CEO & Founder).
eFounders, now rebranded as Hexa, is a European startup studio that partners with entrepreneurs to build and launch software-as-a-service (SaaS) startups, primarily in sectors such as artificial intelligence, fintech, future of work, and health. It provides founding teams with ideas, seed funding, strategic advice, and operational support to accelerate product development and market entry. Over 11 years, eFounders has contributed to launching more than 30 startups, including notable unicorns like Spendesk, Aircall, and Front, collectively reaching a valuation of around $5 billion and employing about 3,000 people. Hexa maintains a significant equity stake (around 25-30%) in its startups, aligning its success with that of the companies it helps create[1][2][3].
Founded in 2011 by Thibaud Elzière and Quentin Nickmans in Brussels and Paris, eFounders pioneered the startup studio model in Europe, focusing initially on SaaS startups. The founders, with backgrounds in entrepreneurship and technology, designed the studio to provide a turnkey project to founders—offering ideas, initial capital, and strategic guidance from day one. The company raised its first funds in 2015 and 2016, each €5 million, and quickly gained traction with multiple startups raising significant capital and successful exits, such as the sale of TextMaster in 2018. In 2022, eFounders restructured and rebranded as Hexa, becoming a holding company for multiple specialized startup studios, including a new Web3-focused studio called 3founders, while keeping eFounders as the SaaS-focused vertical[1][3].
eFounders/Hexa rides the growing trend of startup studios as an alternative to traditional entrepreneurship, democratizing team-based company creation. This model addresses the challenges of founder recruitment and early-stage risk by providing ready ideas and resources, which is increasingly relevant in a competitive startup ecosystem. The timing aligns with rising investor interest in SaaS, AI, and fintech innovations, as well as the emergence of new technologies like Web3. Hexa’s approach influences the broader ecosystem by proving the viability of the studio model in Europe, fostering innovation, and accelerating startup formation with a hands-on, team-oriented methodology[1][2][3].
Looking ahead, Hexa is positioned to expand its portfolio by launching more startups across its specialized studios, leveraging its proven formula while potentially raising external funds to scale investment capacity. Trends such as AI integration, decentralized technologies (Web3), and digital transformation in finance and work environments will shape its journey. Hexa’s influence may grow as it continues to professionalize and democratize entrepreneurship, potentially becoming a key player in European and global startup ecosystems by blending venture capital, operational expertise, and community building in a scalable studio model[1][2][3].
eFounders has more than 26 tracked investments across 26 companies. The latest tracked deal is $20.0M Series A in Parallel in March 2026.
Key people at eFounders.
eFounders was founded in 2011 by Julien Fissette (Entrepreneur in Residence | Co-founder of a new eFounders project) and Thibaud Elziere (CEO & Founder).
