Danish FinTech company Ageras, known for providing accounting software to small businesses in Europe, has successfully completed its largest investment round to date. This oversubscribed private placement raised €82 million, enhancing Ageras’ capacity for acquisitions in a lucrative European market.
Investcorp, the two founders, and other existing investors contributed about 50% of the total funding. New investors included the Norwegian state pension fund Folketrygdfondet and American asset manager Lazard.
“Our goal is to simplify business operations for small enterprises facing complex administrative and regulatory challenges by offering a fully integrated platform for managing banking, accounting, and tax needs,” said Rico Andersen, CEO of Ageras.
“To achieve this vision more rapidly, mergers and acquisitions are a key component of our strategy. Acquiring technology enables us to expand our product offerings faster than building them from the ground up. Currently, we see a promising pipeline of potential acquisitions that align perfectly with our goal of becoming a market leader and eventually going public. This is why we’ve gathered a stellar team of investors and are strengthening our financial resources,” added Andersen.
Founded in 2012, Ageras started as an online marketplace connecting small businesses with accountants and bookkeepers. It has since evolved into a FinTech firm with around 250 employees and a robust cloud-based software suite.
With this latest record-breaking funding round, Ageras has raised nearly €200 million. The favorable market conditions support the company’s acquisition strategy and enable it to offer more features to its expanding customer base across its four primary markets: Denmark, Germany, France, and the Netherlands.
Source: ibsintelligence.com
