Rodeo Software founder Pieter Vos, ordered to repay PSG €62.9M, tells Quote: 'I am media-shy'
Pieter Vos (58), founder and former CEO of Amsterdam project-management software company Rodeo Software, features in Quote's list of the thirteen most notable fallen entrepreneurs from the magazine's 40 years. Reached by phone, Vos told Quote: "I am media-shy", and ended the short call with: "It's better if I leave it at this."
Vos founded Rodeo in 2016. It sold cloud project-management software to creative services firms such as agencies and design studios, and Vos presented Meta and Alphabet as major clients. No Such Ventures led a €7.5M round in 2020. In July 2022, US growth equity firm PSG made a strategic growth investment, which Quote and NRC report at around €61M. Rodeo opened offices in New York, moved into a large building on the Westermarkt in Amsterdam and was named best-performing Dutch SaaS company of 2022 by MT/Sprout.
In 2023 Rodeo appointed a supervisory board. In March 2024, after an internal review, the board removed Vos as CEO and a forensic investigation followed. Board member Quintin Schevernels told Quote: "We simply felt Vos was not the right man for the next phase of growth, that happens. But when we talked to the people involved, a Pandora's box opened." Rodeo was declared bankrupt in Amsterdam on 23 April 2024.
In June 2025 the Amsterdam District Court ruled in a civil case brought by PSG's holding company that the 2022 share purchases came about through fraud, and ordered Vos to repay about €62.9M plus interest. According to the ruling as reported by NRC, Rodeo had around 97 customers and roughly €250K in revenue, not the 17,000 customers and €56.9M in revenue presented to the investor. Vos was declared personally bankrupt in August 2025.
The Dutch Public Prosecution Service opened a criminal investigation after NRC published its findings in December 2024. Quote notes that the case has not led to a criminal conviction. Vos has also told NRC that he would like to make a Netflix series about his experiences.
Quote: Gevallen tech-ondernemer Pieter Vos: 'Ik ben mediaschuw' (18 October 2026)
NRC: court ruling (June 2025)
NRC: personal bankruptcy (August 2025)
