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Vendredi 28 Mai 2021

Fintech : Agicap raises a $100 million Series B to accelerate international expansion and bolster European leadership


Disclaimer: The text below is a press release that was not written by Finyear.com.
Avertissement : Le texte ci-dessous est un communiqué de presse qui n'a pas été rédigé par Finyear.com.



• This Series B brings the total amount of funds raised since the creation of the company in 2016 to $121 million.
• The round was led by Greenoaks with the participation of existing investors BlackFin Capital Partners and Partech.
• This is Greenoaks’ first investment in a French company.
• One of the largest European Series Bs of all time in the Fintech industry.

The European leader of cashflow management SaaS solutions, Agicap, announces a Series B funding of $100 million led by Greenoaks (investors in Brex, Deliveroo, Robinhood, Coupang, Airtable, and Discord) with the support of its existing investors BlackFin Capital Partners and Partech. This ambitious Series B takes place just one year after an $18 million Series A led by Partech, and less than 2 years after the seed round led by BlackFin.

This Series B brings the total amount of funds raised since the creation of the company in 2016 to $121 million and sets the Lyon-based company’s valuation at over $500 million.

Agicap builds SaaS products for SMEs that leverage multiple data sources, including open banking data, to support management teams making strategic financial decisions. By giving businesses clearer insight into their cash flow and burn models, Agicap gives leaders all the information they need to make confident and fast decisions about their operations.

Agicap has seen its headcount increase from 30 to more than 200 employees in less than 12 months and its revenues have grown 10x during this same period. It has also recently opened new offices in Germany, Spain, Italy and the Netherlands, and seen immediate 50% revenue growth as a result.

“This Series B comes at a key moment in our development.” comments Sébastien Beyet, CEO, “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”.

Founded 2016 by visionary French entrepreneurs Sébastien Beyet, Clément Mauguet and Lucas Bertola, Agicap is now set to quickly achieve its objectives and already intends to grow its global headcount to 1,000 employees within 2 years.

“Agicap is a very fast-paced hyper-growing company. We want to recruit massively in France and abroad to develop our solution and bring even more value to our customers, while ensuring the quality of service which makes Agicap the preferred solution of our clients.” explains Clément Mauguet, CGE - Chief Global Expansion.

Thousands of companies (including Meero, Ornikar, Prestashop, Henaff, Blend Burger, Pizza Hut…) use the SaaS platform for real-time cash flow management and forecasting on a daily basis, and as Lucas Bertola, CTO, mentions, “Our ambition is also technological. We want to make Agicap the global financial management solution for SMEs in Europe. We thus want to help all managers make the right decisions and gain serenity."

“Agicap provides businesses clarity on their most important resource: cashflow. They give business owners and teams the best information possible to make critical and high leverage decisions. They’ve shown remarkable traction with SMBs in multiple European markets and by solving a problem all businesses face, we believe they have a huge potential market in front of them. We’re delighted to join them on this exciting journey ahead”, said Neil Shah, Partner at Greenoaks.

“Agicap is much more than a cash management tool: with its real-time data synchronization, it is an intelligent tool for informed business decisions.” adds Philippe Collombel, General Partner at Partech. “In short, it is the ultimate strategic management tool for European SMEs. The team has demonstrated exceptional execution, with a superb growth trajectory and rapid European expansion. We are pleased and proud to continue to support them on their mission.”

“Backing Agicap since the Seed investment, less than 2 years ago, has been an incredible adventure; from 8 employees to 200, the founders’ ambition is stellar” comments Gabrielle Thomas, Investment Director at BlackFin Capital Partners. “The lockdown period confirmed how much cash is king especially to SMEs; Agicap is supporting them for sure as a reliable compass”.

About Agicap
Agicap is THE cash management solution that revolutionizes the way SMEs monitor and forecast the evolution of cash flow. Created 2016 by 3 French entrepreneurs in Lyon, Agicap is a SaaS solution that makes cash management intuitive and real-time.

By merging the most advanced technologies (artificial intelligence) with relevant financial data, such as bank flows, Agicap allows you to:
• automatically synchronize financial data and benefit from intuitive and reliable real-time cash flow visualization
• automatically update budget and cash flow forecasts to spot-out financial gaps and iteratively refine future budget
• make the best decisions by evaluating and anticipating the impact of strategic scenarios on cash flow
Agicap is a very fast growing company established in France, Germany, Spain, Italy and the Netherlands, and is currently supporting corporate management and decision making processes of thousands of companies across Europe.
www.agicap.com

About Partech
Born in San Francisco and Paris, Partech is one of the most active VCs in the world. Its team of former entrepreneurs and tech operators from 20 nationalities brings together capital, operational experience and strategic support for entrepreneurs at seed, venture and growth stages. In 2020, Partech invested in 82 startups across 24 countries in Europe, America, Africa and Asia.
partechpartners.com

About BlackFin Capital Partners
BlackFin Capital Partners is a fully independent private equity and venture capital firm focused on financial services in Europe. BlackFin manages 3 buyout funds and 1 venture fund (BlackFin Tech) for a total of €1.8bn under management. Since its final closing in 2018, BlackFin Tech invested in 15 of the fastest growing European fintechs and insurtechs. BlackFin Capital Partners’s 40 investment professionals are spread across 3 offices in Paris, Brussels, and Frankfurt.



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