Fintech
Danish company Ageras raises €82 million for FinTech acquisitions
By Gloria Methri
Today
- Accounting operations
- accounting software
- Accounting software platform
Danish FinTech Ageras, which provides accounting software to small European businesses, has completed its sixth and largest investment round to date. The oversubscribed round is a private placement for a total financing of €82 million and will strengthen Ageras’ acquisition opportunity in an attractive European market.
Investcorp, the two founders and other existing investors accounted for around 50% of the round, as well as new names such as Norwegian state pension fund Folketrygdfondat and American asset manager Lazard.
“We want to make it easier to be a small business in an increasingly challenging administrative and regulatory landscape by offering a fully integrated platform where businesses can manage their banking, accounting and tax activities in one financial cockpit,” he said Rico Andersen, CEO of Ageras.
“To realize this vision more quickly, mergers and acquisitions are an integral part of our strategy, where we have acquired technology and then expanded our product faster than if we had built everything from scratch. We currently see an interesting pipeline of potential acquisitions emerging and the ones we have our eye on reinforce our 100% vision and goal: to become a market leader and then go public. Therefore, we have assembled a dream team of investors and are filling the ‘war chest’ right now,” Andersen added.
Ageras was founded in 2012 as an online marketplace that connects small businesses with accountants and bookkeepers. Today it has grown into a FinTech company with around 250 employees and a comprehensive cloud-based software product.
With the latest record investment round, Ageras has raised almost 200 million euros. Market conditions have made it favorable for the Danish FinTech to continue its acquisition hunt and offer even more features to the growing customer base in its four main markets: Denmark, Germany, France and the Netherlands.
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