How to sell your SaaS without a broker
Brokers find buyers, get them competing and manage the paperwork. You can do all three yourself and keep the fee. Here's the process, and the 298 buyers behind 5,825 software acquisitions to start with.
The process, step by step
- 1
Get your numbers buyer-ready
Three years of monthly revenue, churn, gross margin and profit, reconciled to your bank and Stripe. Buyers make offers fast on clean numbers and slow, low ones on messy numbers. Write down what only you do in the business: founder dependence is the first thing every buyer asks about.
- 2
Decide what kind of buyer you want
A holdco keeps your product running and usually keeps your team. A strategic buyer may fold your product into theirs or shut it down and keep the customers. PE pays for growth and expects you to stay. Pick the outcome you want for your customers, team and yourself before you pick the price.
- 3
Build a shortlist of 20 to 40 buyers
Look for buyers who have bought companies like yours recently, in your category and size range. A buyer that closed three deals in your vertical last year is a better bet than a famous name that hasn't bought in five.
- 4
Reach out to several at once
Competition is the main thing a broker brings. You can create it yourself: contact your shortlist within the same two weeks so offers arrive together. Use each buyer's own intake email or form where they publish one: it reaches the people who run deals.
- 5
Share in stages, under NDA
A short teaser first, then financials once a buyer signs an NDA and confirms they can afford your size. Keep customer names, source code and credentials out until you've signed an LOI.
- 6
Compare LOIs on terms, not the headline
Cash at close, earnout size and conditions, escrow and holdback, how long you're asked to stay, and how much of the price depends on things you won't control after the sale. A lower offer with more cash at close often beats a higher one built on an earnout.
- 7
Mind the exclusivity period
Signing an LOI usually gives the buyer 30 to 90 days of exclusivity (a no-shop). That's when re-trades happen: the price drops after diligence because you can't go back to other buyers. Keep it short, and ask the buyer for references from founders they've bought from.
- 8
Get a lawyer for the purchase agreement
Running the process yourself saves the broker's fee; a good M&A lawyer for the final agreement is still worth paying for. Reps, warranties, indemnity caps and escrow terms decide how much of the price you actually keep.
Who buys SaaS companies
| Buyer type | What happens to your product | Pace | Best fit |
|---|---|---|---|
| Holding companies 65 in our database | Usually keeps your product, brand and team running | Fast, often a few weeks to a few months | Profitable, stable businesses; founder can leave after a handover |
| Software companies 117 in our database | May integrate or sunset your product | Varies widely with the buyer's priorities | Products that fill a gap in their platform, or teams they want |
| Private equity 86 in our database | Keeps the business; expects growth and often a new team around you | Thorough diligence; slower | Larger, growing companies; founder often rolls equity and stays |
| Search funds 8 in our database | Searcher becomes the CEO and runs it | Depends on raising the money for your deal | Founders ready to hand over day-to-day running |
Who's buying right now
The latest deals by holding companies, search funds and individual buyers in our database.
- Chalco acquired by Valsoft Corporation · Nov 6, 2026
- Softland Inversiones, S.L. acquired by Topicus.com · Nov 6, 2026
- Spider Strategies acquired by Jonas Software · Nov 6, 2026
- Fiscaltech acquired by Modaxo · Nov 3, 2026
- Twinfinity acquired by Total Specific Solutions (TSS) · Nov 2, 2026
- Lexpera S.A. acquired by Total Specific Solutions (TSS) · Oct 30, 2026
- Dreeven Technologies acquired by JDM Technology Group · Oct 29, 2026
- Convox acquired by Curious · Oct 26, 2026
Questions founders ask
- Can I sell my SaaS without a broker?
- Yes. The broker's main jobs are finding buyers, creating competition between them and managing the paperwork. You can do the first two with a buyer list and a tight outreach window; for the paperwork, pay an M&A lawyer.
- Who buys small SaaS businesses?
- Mostly holding companies and micro private equity, plus individual operators and search funds. Larger strategic buyers usually buy for a specific product gap or team.
- How long does it take to sell a SaaS company?
- From first conversation to closing, often two to six months. The LOI-to-close stretch depends on the buyer: some holdcos close in weeks, PE diligence takes longer.
- What should I check before signing an LOI?
- How much is paid at close versus later, earnout conditions, escrow and holdback, your required time after the sale, and the length of exclusivity. Ask the buyer for founders you can talk to who sold to them.
Get every buyer's contacts and playbook
Full access adds how to reach each buyer, how they run a deal, their typical LOI-to-close time, deal structure and the red flags founders have reported.
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