The strategy behind Holded’s 279% revenue growth and market success in Spain

The strategy behind Holded’s 279% revenue growth and market success in Spain
Holded expanded from link building to a full SEO strategy with Skale. By targeting high-intent Spanish keywords, optimizing content, and building quality links, they saw a 1,370% increase in signups, 1,650% growth in paid subscriptions, and a 279% MRR uplift while reducing PPC reliance.

Before Skale

Holded struggled to achieve meaningful organic growth despite a strong product and growing user base. Their organic visibility was limited, with many key pages failing to rank competitively due to a lack of domain authority. The company was also highly dependant on paid channels, leading to high customer acquisition costs (CAC) and limiting sustainable growth. Additionally, their SEO efforts lacked cohesion, with no clear strategy for targeting high-intent queries, optimising site structure, or building authority. To address these challenges, Holded partnered with Skale to move beyond link building and implement a full-scale SEO strategy.
The strategy behind Holded’s 279% revenue growth and market success in Spain
The strategy behind Holded’s 279% revenue growth and market success in Spain

The Skale Solution

Skale implemented a data-driven SEO strategy to help Holded break through their organic growth plateau, increase SEO-sourced MRR, and reduce reliance on paid channels. We began with a deep keyword analysis, targeting high-intent Bottom of Funnel (BoFu) queries to drive conversions, then expanded to broader Top of Funnel (ToFu) topics. To enhance site structure and build authority, we created content hubs around invoicing, accounting, and financial management, using internal linking to boost rankings. Skale worked on building high-quality links within the Spanish market, helping Holded dominate local competitive keywords like “programas dae contabilidad” (accounting programmes) and “programas dae facturación” (invoicing programmes), proving our ability to execute successful international SEO strategies. A link-building and digital PR campaign strengthened Holded’s domain authority, securing high-quality backlinks from industry sites and media outlets. We also collaborated with Holded’s paid team, refining our content strategy with insights from top-performing PPC keywords to align SEO with pipeline growth. Starting with BoFu queries, we captured high-intent users and increased conversions, then expanded to Mid and ToFu content to attract a wider audience and further establish Holded’s market authority.

The Results

From 2020, Holded saw a 1,370% increase in organic non-branded signups and a 1,650% increase in paid subscriptions through organic. Holded’s 279% MRR uplift shows the power of SEO when invested in long-term. Since partnering with Skale in 2020, their SEO strategy has steadily compounded, driving sustainable growth and reducing dependence on paid channels. SEO isn’t a quick fix—it's a long-term investment that delivers lasting results, as Holded has experienced.
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