Business
Agicap raises $100 million for its cashflow management service
French startup Agicap has raised a new $100 million funding round led by Greenoaks. With today’s funding round, the company has reached a valuation of more than $500 million (€415 million). Agicap is building a service that lets you track your cash flow in real time, build reports and get forecasts.
In addition to Greenoaks, existing investors BlackFin Capital Partners and Partech are also participating in the round. It represents a big jump from last year’s $18 million Series A round from last year.
The basic premise of Agicap is quite simple. Many small companies rely on Microsoft Excel to figure out their cash position every week or every month. Instead of exporting .csv files from your bank accounts, you can connect your bank accounts to Agicap for real-time monitoring. Similarly, Agicap has developed integrations with accounting software and invoicing tools.
When you want to see how you’re doing when it comes to cash, you can connect to your Agicap account just like you’d connect to a web analytics service. Agicap tries to break down how much you’re spending by category and branch. After that, you can run projections and make decisions based on forecasts.
Designed specifically for small and medium companies, Agicap has managed to convince 3,500 companies to use its service. They pay a monthly subscription fee. Clients include Cityscoot, Meero, Merci Handy, Ornikar and Blend Burger.
Agicap is currently live in France, Germany, Spain, Italy and the Netherlands. France still generates 50% of the company’s revenue but other markets are growing rapidly.
“This Series B comes at a key moment in our development,” co-founder and CEO Sébastien Beyet said in a statement. “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.”
Following today’s funding round, the company has some ambitious expansion plans. The company’s team has already grown from 30 employees to 200 employees over the last 12 months. Now, it plans to build a team of 1,000 employees within the next couple of years.
-
Entertainment7 days ago
‘Interior Chinatown’ review: A very ambitious, very meta police procedural spoof
-
Entertainment6 days ago
Earth’s mini moon could be a chunk of the big moon, scientists say
-
Entertainment6 days ago
The space station is leaking. Why it hasn’t imperiled the mission.
-
Entertainment5 days ago
‘Dune: Prophecy’ review: The Bene Gesserit shine in this sci-fi showstopper
-
Entertainment4 days ago
Black Friday 2024: The greatest early deals in Australia – live now
-
Entertainment3 days ago
How to watch ‘Smile 2’ at home: When is it streaming?
-
Entertainment3 days ago
‘Wicked’ review: Ariana Grande and Cynthia Erivo aspire to movie musical magic
-
Entertainment2 days ago
A24 is selling chocolate now. But what would their films actually taste like?