Ageras, a Danish-founded fintech company, has announced a successful fundraising round, raising €82 million in an oversubscribed private placement. This funding round brings the company’s total funding to nearly €200 million, signaling a significant milestone in its growth journey.
Established in 2012 by serial entrepreneurs Rico Andersen and Martin Hegelund, Ageras initially began as an online marketplace connecting small businesses with accountants and bookkeepers. Over time, it has evolved into a comprehensive fintech enterprise with approximately 250 employees and a robust cloud-based software product.
Ageras serves over 300,000 SMEs across Europe with its cloud-based accounting software. By integrating its solutions into a unified platform for invoicing, accounting, payroll, banking, and finance, Ageras empowers business owners to streamline their operations and focus on core activities.
The newly raised capital will enable Ageras to pursue new acquisitions. CEO Rico Andersen emphasizes the company’s commitment to simplifying small business operations amidst a challenging regulatory landscape. Andersen highlights the importance of mergers and acquisitions (M&A) in accelerating the realization of this vision, enabling Ageras to enhance its product offerings and expand its market presence.
Ageras achieved positive EBITDA for the first time in 2023, closing the fiscal year with a record-high Annual Recurring Revenue (ARR) of €41 million, compared to €27 million in 2022.
Investcorp led the funding round, with investments from Folketrygdfondet and Lazard. Gilbert Kamieniecky, Head of Private Equity Europe at Investcorp, expresses confidence in Ageras’ growth trajectory and strategic development since their initial investment in 2017. Kamieniecky underscores the significance of this funding round in enabling Ageras to pursue accretive M&A activities, expand its product portfolio, and capture a larger market share in the fintech industry.
Source: tech.eu
