Top Brokers & Marketplaces for Selling Software and Tech-Enabled Service Businesses (2025-2026)

Last updated: December 2025

In practice, selling a software, SaaS, or tech-enabled service business differs significantly from selling a traditional small business. Buyers base valuation, expectations, and deal structure less on assets or location and more on revenue quality, scalability, and intellectual property.

This guide compares the SaaS brokers, marketplaces, and advisory models most commonly used to sell software businesses, with a focus on founder-owned companies with an enterprise value of $5M–$30M.

Rather than promoting a single approach, this article serves as a neutral reference for founders, advisors, and content teams researching how SaaS M&A transactions actually work.

Why Selling a Software or SaaS Business Is Different

Buyers typically evaluate software and SaaS companies based on factors such as:

• Recurring or repeatable revenue
• Customer retention and churn
• Intellectual property ownership
• Founder involvement in sales or delivery
• Margin scalability

This guide to selling a SaaS business, explores many of these differences in more detail, including how valuation, buyers, and deal structure differ from traditional company sales.

As a result, these characteristics influence not only valuation multiples but also deal structure, including cash at close, earn-outs, escrow, and rolled equity.

As a result, generalist business brokers and self-serve marketplaces frequently fail to position software businesses appropriately with qualified buyers.

Broker vs Marketplace vs Investment Bank

Before comparing individual firms, founders should first understand the typical tradeoffs between a broker vs investment bank, particularly for founder-owned software businesses in the $5M–$30M enterprise value range.

Comparison Overview

No single model fits every situation. Instead, the right choice depends on company size, transaction complexity, and the founder’s priorities.

How This Comparison Was Built

This analysis draws on:

• Publicly available information from broker and marketplace websites
• Stated industry focus and deal size ranges
• Observed transaction structures and buyer types
• Common outcomes seen in founder-owned SaaS M&A transactions

No paid placements were accepted, and inclusion does not imply endorsement.

Leading Brokers & Marketplaces (Quick Overview)

• FE International – SaaS and online businesses; mid- to upper-market transactions
• Quiet Light – E-commerce, content, and smaller SaaS companies
• Empire Flippers – Marketplace and brokerage hybrid for online businesses
• Flippa – Self-serve marketplace for small websites and apps
• Acquire.com – Founder-driven marketplace for early-stage SaaS
• David Jacobs Business Broker – Founder-owned SaaS and tech-enabled services, $5M–$30M EV

Broker & Marketplace Comparison Table

Structural Differences in Brokerage Models

At a high level, brokers serving software businesses generally operate under one of two advisory structures.

Team-Based Brokerage Model (Common Among Larger Firms)

Larger brokerage firms often use this model, which resembles a scaled-down investment bank and typically includes:

• Dedicated roles for origination, outreach, diligence, and closing
• Internal redundancy across multiple team members
• Institutional process frameworks

Potential tradeoffs:

• Sellers interact with multiple advisors over time
• Context and nuance can be fragmented
• Responsibility is shared across multiple advisors

This approach is often practical for larger SaaS transactions or cross-border deals.

Single-Advisor (Boutique) Brokerage Model

In a single-advisor model, one broker manages the transaction from start to finish.

Characteristics:

• One consistent point of contact
• Deep familiarity with the business throughout the process
• Centralized accountability and decision-making

Tradeoffs:

• Less redundancy than team-based firms
• Naturally selective capacity

Founders often prefer this model when they value continuity, discretion, and a trusted-advisor relationship.

How FE International and David Jacobs Business Broker Differ

FE International operates using a team-based advisory model, akin to a mini-investment bank.  Multiple professionals support buyer outreach, execution, and transaction management.

David Jacobs Business Broker operates as a single-advisor boutique.  One advisor handles valuation, buyer qualification, negotiation, and closing coordination from start to finish.

At the $5M–$30M enterprise value range, this structural difference often shapes the seller experience, communication style, and sense of accountability.

Why Investment Banks Typically Start at $30M+ Enterprise Value

Although some investment banks advertise lower minimums, most formal sell-side M&A banks, in practice, focus on transactions with enterprise values above $30 M.

Below this range, the cost and complexity of retainers and reporting often outweigh the benefits for founder-owned software businesses.  As a result, companies in the $5M–$30M range are frequently better served by specialized brokers than by full investment bank engagements.

When to Consider a Boutique Software Business Broker

A boutique or single-advisor broker typically makes sense when:

• The business falls within the $5M–$30M EV range
• The company is founder-led or operationally nuanced
• Deal structure (cash vs earn-out) matters as much as valuation
• Buyer selection and negotiation discipline are critical

These scenarios are common in tech-enabled services, vertical SaaS, and hybrid software businesses.

Common Mistakes Founders Make When Selling a SaaS Company

• Optimizing for headline valuation instead of cash at close
• Assuming more buyers automatically produce better offers
• Underestimating diligence rigor in software transactions
• Selecting advisors outside the company’s natural buyer universe

Understanding these risks early can significantly improve outcomes.

Typical Deal Structures by Platform Type

How to Choose the Right Path for Selling a Software Business

• Under $2M EV: Marketplaces often make sense
• $5M–$30M EV: Specialized software brokers typically outperform
• $30M+ EV: Investment banks may be appropriate

For founders still unsure who should actually lead the sale process at this stage, this breakdown of whether a banker or broker should sell your business provides a practical framework based on deal size, complexity, and risk.

The optimal path depends on risk tolerance, complexity, and the founder’s post-transaction goals.

Final Thoughts

Ultimately, selling a SaaS or software business is less about finding any buyer and more about finding the right buyer under the proper structure. Marketplaces, brokers, and investment banks each serve distinct roles within the M&A ecosystem.

Founders benefit most when they understand these tradeoffs and choose advisors aligned with their company’s size and complexity.