Fintech
Thomas Vles, CEO of Tellow by Ageras Group, leaves the Danish fintech: here’s why
Thomas VlesChief Executive Officer (CEO) of Tellow, has announced his decision to step down after 3.5 years of service.
“After Tellow integrated into Ageras, my role within the company changed and, as an entrepreneur at heart, I felt a strong desire to venture out on my own again,” says Vles.
In June 2020, Rabo Frontier Ventures invested in Ageras Group. As part of the deal, Ageras Group acquired Tellow to expand its international presence.
“I have complete faith in Ageras and the dedicated team that is realizing our vision. The closing of the recent financing round is just a small milestone in the great things to come,” adds Vles.
Thomas Vles took over Position of the CEO to Tellow in February 2021, succeeding Roel Smel. Previously, he had solid experience in founding and effectively managing several companies, including Poopy Cat and Wedoido.
Tellow: Automated accounting program
Tellow, based in Amsterdam, offers an automated accounting program specifically designed for microbusinesses and freelancers.
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According to Tellow, it helps users check their records at all times, making their accounts understandable. Users can use its app to send quotes and invoices and track their finances.
They can also scan receipts and invoices and then submit the VAT return to the tax authorities every quarter with one click, says the company.`
Earlier this month, Tellow’s parent company, Ageras lifted up €82 million in an oversubscribed private placement round backed by two founders and Investcorp, alongside other existing investors.
Ageras Group: strengthening micro-enterprises
Founded by Rico Andersen and Martin Hegelund in 2012, Ageras Group empowers microbusinesses by offering an ecosystem around their financial needs.
The platform integrates its solutions into a single “cockpit” for invoicing, accounting, payroll and banking services.
The Ageras Group started out as online marketplace Ageras.com (connecting SMEs with accountants), but has since acquired accounting software Billy and Tellow, payroll software Salary, invoicing software company Zervant and the neo-bank Konist.
The Danish company was bootstrapped for its first five years until global private equity firm Investcorp Technology Partners took a majority stake in 2017.
In 2020, Dutch bank Rabobank invested in the group through its venture arm Rabo Frontier Ventures. In 2021, Ageras Group raised $73 million from New York-based investment fund Lugard Road Capital.
The Ageras Group has offices in the United States and throughout Europe and has approximately 350 employees. The group says more than 1 million small businesses have used its solutions in Europe and the United States.