Danish fintech Ageras says hitting profit “huge milestone”

 

Ageras has reported revenues of €31.7 million for the year ending December 2023, achieving a profit of €1.2 million, and is preparing for a potential IPO.

Danish accounting software fintech Ageras considers this achievement a “huge milestone,” marking its first full year of profitability as it gears up for an IPO.

Ageras provides accounting software to over 300,000 small businesses across Europe. The reported profit is a significant milestone for the company, with CEO Rico Andersen noting that this has been a goal they have been striving for over the past 2.5 years. This profit was achieved through top-line growth, maintaining flat costs, and a “tiny restructuring,” according to Andersen.

Having recently raised €82 million, Ageras is looking to make one or two acquisitions before a planned IPO in 2026. These acquisitions will likely be in its core markets of Denmark, the Netherlands, Germany, or France, and will complement its core accounting software business.

Ageras integrates its solutions into a single platform for invoicing, accounting, payroll, banking, and finance, allowing business owners to focus on running their businesses.

Any future fundraising efforts, Andersen stated, will be aimed at supporting further M&A activities.

Regarding the planned IPO, Andersen emphasized the company’s intent to be transparent with the market. He highlighted that the last investment round was a pre-IPO round, with cap table investors likely anticipating an IPO. However, the timing of the IPO will depend on market conditions and the company achieving certain milestones.

Source: tech.eu

Hipther

FREE
VIEW