Agicap is a SaaS platform for SMBs to manage and forecast their cash flows. Agicap’s services let customers track their cash flow in real-time, build reports and get forecasts. The company, since its inception in 2016 has raised total funding of $121M (approx €99.28M). The new fundraising brings the company’s valuation to over $500 million (approx €410M).
Agicap’s Series B round funding was led by Greenoaks Capital; an internet investment firm. Greenoaks Capital is based in San Francisco. Its services include making concentrated, long-term investments in technology-enabled businesses globally. Greenoaks presently has more than $7B (approx €5.74B) assets under management.
Other existing investors who participated in this round were BlackFin Capital Partners and Partech Partners. The company saw a great increase in this year’s round when compared with last year’s Series A round funding. The Series A round funding raised $18 million (approximately €14.76 million), and was led by Partech Partners.
Co-founder and CEO of Agicap, Sébastien Beyet, said in a statement that “This Series B comes at a key moment in our development. It demonstrates our will to make Agicap the European leader in our market and will allow us to further accelerate our international presence, launching in 10 new countries in the coming months.”
Agicap is specifically designed for small and medium companies. The company currently offers its services to over 3,500 companies. These companies pay a monthly subscription fee. Agicap’s clients include Cityscoot, Meero, Merci Handy, Ornikar, and Blend Burger. People can connect their bank accounts to Agicap for real-time monitoring. Agicap has also developed integrations with accounting software and invoicing tools.
Agicap is based in France, where it generates 50% of its revenue. The company is also operational in Germany, Spain, Italy, and the Netherlands. To follow this latest funding round are subsequent expansion plans. Over the last 12 months, the company saw an increase of 170 employees. Agicap plans on building a team of 1,000 employees within the next couple of years, alongside its other ambitious plans.
Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.
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