Danish accounting software fintech Ageras is actively pursuing acquisitions following the successful raising of €82 million in funding.
The oversubscribed private placement round saw participation from notable investors, including the Norwegian state pension fund Folketrygdfondet, Lazard, and Investcorp.
Founded in 2012 as a marketplace for small business owners to connect with accountants, Ageras has since broadened its offerings to include a comprehensive suite of software for SME banking, accounting, invoicing, and payroll services. The company now serves over 300,000 SME clients across Europe, primarily in Denmark, Germany, France, and the Netherlands, and employs 250 individuals.
The newly secured funds will be allocated towards acquisitions as Ageras aims to expand its product suite and increase its annual recurring revenue to €100 million in anticipation of a potential IPO.
Rico Andersen, CEO of Ageras, stated: “We want to simplify the lives of small businesses in an increasingly complex administrative and regulatory environment by offering a fully integrated platform where companies can manage their banking, accounting, and tax in one financial cockpit.”
Andersen further emphasized the strategic importance of mergers and acquisitions, noting, “To accelerate our vision, M&A is a key part of our strategy, allowing us to acquire technology and expand our product offerings more quickly than we could by starting from scratch. We currently see a promising pipeline of potential acquisitions that align perfectly with our vision and goal of becoming the market leader before going public.”