Accountancy Software Platform Ageras Group has raised $73M to expand its ecosystem further Into B2B fintech.
Ageras will be utilizing this recent investment round from Lugard Road Capital—a global investment fund focused on public and private companies in the Internet, software, consumer and technology sectors—to grow the business in the US and abroad, and acquire more Business-to-Business (“B2B”) software companies. .
“By 2023, we’ll be well-positioned as a data-driven, one-stop solution for SMEs and will have our sights set on subsequent acquisitions,” said Rico Andersen, Co-founder and Group CEO. “Therefore, we will be investing our cash injection to continue growing our marketplace globally and acquiring businesses that eliminate the administrative burden of running a business, so owners can focus on growing and developing their businesses instead of maintenance.”
After being bootstrapped for five years, Ageras has been backed by ITP since 2017. ITP will continue as majority shareholders. A part of the $35B AUM alternative asset manager Investcorp, ITP has led investments in other technology companies, such as Avira, Impero, Calligo, softgarden and Ubisense.
“Ageras makes life easier for business owners by giving them the financial tools for success. We are able to expedite and address any accounting need in an easy and accurate fashion,” said Martin Hegelund, Co-founder and Group CMO. “Beyond offering a full suite of online accounting software solutions, and soon-to-come banking solutions, our online marketplace allows businesses to find curated and pre-vetted accountants who are well-suited for their particular project and budget. Concurrently, we provide a hands-off, user-friendly, and convenient marketing solution for accountants, allowing them to spend more time running their firm and less time worrying about marketing.”
The B2B accounting and financial services market is ready for disruption, for which data is key. Driven by this recent $73 million cash infusion, Ageras will be working towards becoming a one-stop solution.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.