French startup Agicap has raised USD 100 million in another founding round, as announced on May 27, 2021. After this round of funding, the valuation of the company has reached more than USD 500 million.
The funding round was led by Greenoaks. Existing investors BlackFin Capital Partners and Partech also participated in the round. This round shows a big jump from the Series A round which took place last year when USD 18 million were raised.
The startup aims to use the funds to build a cash flow management service that will let the user track their cash flow in real-time, build reports and get forecasts. The company also aims to grow its team size which already has increased from 30 employees to 200 employees over the last 12 months, and now it plans to have 1000 people in its team over the next few years.
About Agicap
Founded by Sebastian Beyet, Clement Mauguet, and Lucas Bertola, with headquarters in Lyon, Agicap builds SaaS products for SMEs that leverage multiple data sources, like open banking data, to support management teams making strategic financial decisions.
The software of the company helps them get a picture of their business from inside through cash models and offers information needed to make a decision. It forecasts the cash flows of 1,3,6 or 12 months, real-time monitoring of cash flows, and customized monitoring.
The company currently has over 3000 clients operating in the industries that are affected severely due to the crisis like hotels and restaurants, industrial businesses, and transportation. Some of the clients are Meero, Ornikar, Prestashop, Henaff, Blend Burger, and Pizza Hut. The clients pay a monthly subscription fee. The company has opened new offices in Germany, Spain, Italy, and the Netherlands and claims to have a 50 percent revenue growth from France itself.
What does the CEO say?
Sébastien Beyet, CEO of Agicap says, “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.”
Clément Mauguet, Chief Global Expansion at Agicap says, “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.”
What does the investor say?
Neil Shah, Partner at Greenoaks says, “Agicap provides businesses clarity on their most important resource: cashflow. 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.”
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