Vendon Due Diligence

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Latvia · vendon.net · 14 vendors

Vendon provides IoT, telemetry, and payment solutions for the vending and coffee machine industry. Their Vendon Cloud platform enables remote monitoring, management, and optimization of machine fleets. The company's solutions help operators streamline operations, reduce costs, and increase profitability through real-time data insights, payment processing, and tools for route planning and preventative maintenance.

Resilience scores

Technology vendors

Services catalogue

3 services in catalogue across 2 categories; runs on 14 sub-vendors.

Insights

Last updated 2026-07-30 · revision 2

14 direct vendors, 137 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

11 in-scope frameworks identified; showing 3.

Cyber Resilience Act (source) — No public evidence

Evidence: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L_202402847, https://vendon.net/products/vendon-cloud/, https://vendon.net/products/card-reader/

SOC 2 (source) — No public evidence

Evidence: https://vendon.net/products/vendon-cloud/, https://vendon.net/

ISAE 3000 (source) — No public evidence

Evidence: https://vendon.net/compliance-and-whistleblowing-channel/, https://vendon.net/

Financials

Three-year financials

Financial Resilience Score: 7/10

Vendon's financial resilience is bolstered significantly by its ownership structure as a wholly-owned subsidiary of Grupo Azkoyen, a Spanish publicly listed industrial group (CNMV: AZK) with consolidated revenue historically in the range of €140–170 million. This parent backing provides capital access, cross-selling opportunities through Azkoyen's global installed base (including sister brands Coffetek, Ascaso, Coges, and Cashlogy), and shared R&D resources. Vendon's business model benefits from a recurring SaaS-like revenue profile via Vendon Cloud, which typically produces sticky, high-margin subscription revenue on top of hardware sales. The company serves customers in over 90 countries with more than 2,000 clients including blue-chip references like Nestlé Professional, providing geographic diversification that reduces country-specific concentration risk. However, standalone financials are not publicly disclosed as investor-grade reports, being only filed as statutory accounts with the Latvian Enterprise Register. The business faces cyclicality tied to office attendance and out-of-home consumption trends, hardware dependency exposing it to component costs and BOM inflation, and competition from Nayax, Cantaloupe, Televend, and captive OEM telemetry solutions in a fragmenting IoT/payments market.

Key strengths: Parent backing from listed Grupo Azkoyen (CNMV: AZK) with ~€140-170M consolidated revenue, Recurring SaaS-like revenue from Vendon Cloud IoT platform, Geographic diversification across 90+ countries, 2,000+ clients including blue-chip Nestlé Professional, Access to Azkoyen's global sales channels and OEM relationships, Sister brand cross-selling (Coffetek, Ascaso, Coges, Cashlogy)

Risk factors: End-market cyclicality tied to office attendance and out-of-home consumption, Impact of remote-work trends on vending/OCS demand, Hardware dependency exposing to component costs and semiconductor supply, Competitive IoT/payments landscape (Nayax, Cantaloupe, Televend), Small national entity with limited statutory reporting transparency, PSD2/PCI-DSS compliance costs for payment services, EU interchange regulations affecting card-reader business, COVID-19 style shocks to vending industry

Workforce by country

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