Denmark’s Ageras raises €82m earmarked for new acquisitions
Danish fintech Ageras has secured €82 million in a private investment round to fuel future acquisitions.
Ageras founders Martin Hegelund (left) and Rico Andersen (right)
The round saw global investment manager Investcorp along with two unnamed founders and existing backers account for around 50% of the investment, with additional participation by US-based asset manager Lazard and the Norwegian state pension fund Folketrgdfondet.
Founded in 2012 by Martin Hegelund and Rico Andersen, Ageras offers a cloud-based solution built to help businesses with accounting, payroll, banking, finance, and invoicing.
It currently claims to supply its accounting software to more than 300,000 European small and medium-sized enterprises (SMEs) across its four core markets of France, Germany, the Netherlands, and Denmark.
The new cash injection will be used to fund the firm’s “acquisition hunt” and to expand its product offerings.
The Danish fintech is aiming to boost its Annual Recurring Revenue (ARR) to €100 million in the near future, hinting that an IPO may “potentially be considered” once it reaches this milestone.
Its latest investment round, which marks its sixth and largest round to date, takes the company’s total funding since its launch to nearly €200 million.
In 2022, Ageras closed a €30 million round in February, before securing €35 million in growth capital financing from CIBC Innovation Banking in August.
