Agicap lands €45m Series C led by AXA Venture Partners
Agicap, a France-based treasury management platform for small and medium-sized enterprises (SMEs), has bagged €45 million in a Series C funding round.
Agicap bags €45m Series C
AXA Venture Partners (AVP) led the round, marking the first European investment made from the Paris-headquartered firm’s €1.5 billion late-stage fund dedicated to tech scale-ups in Europe and the US.
Established in 2016, Agicap supports over 8,000 clients across Europe with its all-in-one treasury management platform, covering cash management, liquidity planning, collections, debt and investment management, with integrated banking and ERP connectivity.
The new funding builds on Agicap’s $100 million Series B led by GreenOaks Capital in 2021.
Since then, Agicap claims to have increased its revenue sevenfold, expanded into the UK, Italy, Spain, Ireland, and the DACH region, and expects to achieve “positive cash flow in Europe by early 2025”.
With its Series C funding, Agicap aims to upgrade its software product offerings for midmarket clients, focusing on FX risk and credit management.
In addition, the fintech plans to bolster its customer success and sales teams throughout Europe, and boost its go-to-market strategy by “expanding indirect channels, through the network of treasury partners and system integrators”.
