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Ageras raises EUR 82 million for new acquisitions

Posted on by darion

Ageras raises EUR 82 million for new acquisitions. Source: Shutterstock.com

Danish fintech Ageras, which provides accounting software to over 300,000 active European small businesses, has completed its sixth and largest investment round to date.

This round is a private placement with a total value of EUR 82 million and is oversubscribed due to overwhelming commitments from both new and existing investors; increasing Ageras’ acquisition opportunities on the attractive European market.

About 50% of the round went to Investcorp, among others, as well as new names such as Norwegian state pension fund Folketrygdfondet and US asset manager Lazard.

Ageras raised a total of almost EUR 200 million

Ageras CEO Rico Andersen said: “We want to make it easier to run a small business in an increasingly difficult administrative and regulatory environment by offering a fully integrated platform where companies can manage their banking, accounting and taxes in one financial cockpit,” says Rico Andersen.

“To realize this vision faster, mergers and acquisitions are an integral part of our strategy, where we have acquired technology and thus scaled our product faster than if we had built everything from scratch. We currently see an attractive pipeline of potential acquisitions emerging, and those we see are 100% supportive of our vision and purpose; become a market leader and then go public. That’s why we’ve gathered a dream team of investors and are just filling the “war chest.”

Even though at the end of 2023 the company announced that it did not need to raise further funds. However, market conditions favor the Danish fintech to continue its acquisition hunt.

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Gilbert Kamieniecky, Director of Private Equity Europe at Investcorp, commented: “We have been impressed by Ageras’ growth and strategic development since our first investment in 2017. We are therefore pleased to lead this investment round, which will enable more effective mergers and acquisitions to expand product offerings and gain market share.”