SaaS platform for SMBs to manage and forecast their cash flows Agicap has raised €45 mn in Series C funding led by AVP. This investment aims to bolster Agicap’s presence in Europe and drive its expansion toward becoming a global leader in midmarket treasury management.
Founded in 2016, Agicap provides advanced cash management solutions, integrating banking and ERP connectivity for SMBs and midmarket companies since its launch. It offers finance teams and executives a real-time, flexible view of cash flow, covering past, current, and forecasted data.
The platform features an integrated suite of tools for comprehensive treasury management.
Managing cash efficiently has become a crucial priority for CFOs amid rising economic uncertainty. Agicap’s survey with Innofact showed that 80% of midmarket firms still use Excel for cash forecasting, a manual method, and only 41% project long-term cash positions.
In today’s economic climate, cash management is critical. The complexities of midmarket organizations make tracking multiple cash flows across different accounts and currencies challenging. Agicap streamlines this process, providing valuable insights in minutes
Clément Mauguet, Agicap’s Co-founder & Chief Expansion Officer
Agicap serves over 8,000 companies, simplifying cash flow data management through direct bank connectivity, real-time API networks, and integration with ERPs and finance tools. Its features include payment strategy optimization, collection management, debt and investment handling, and expense tracking.
Since its Series B funding in 2021, Agicap has scaled revenue by 7x and expanded to regions like DACH, Italy, the UK & Ireland, and Spain.
It has introduced new features, like automation for accounts payable and receivable, aiming to meet the needs of larger midmarket clients. The company plans to achieve positive cash flow in Europe by early 2025.
Midmarket firms lose an average of €450k yearly to overdraft fees and inefficiencies. Agicap aims to eliminate these losses
Sébastien Beyet, CEO of Agicap
The Series C funding will support Agicap’s growth and product development. Key initiatives include:
- Strengthening its European footprint with enhanced sales and support, especially outside France, where over 50% of revenue originates.
- Expanding its product offerings to address midmarket needs, such as FX risk and credit management.
- Enhancing its market approach through partnerships and system integrators.
This investment also marks AVP’s inaugural European investment from its €1.5 bn late-stage fund for tech scale-ups.
AVP is a global venture capital firm specializing in high-growth, technology-enabled companies, managing more than $2 billion in assets across four investment strategies: Venture, Growth, Late Growth, and Fund of Funds. Since its establishment in 2016, AVP has invested in more than 60 technology companies in Venture and Growth stages in the US and Europe. With offices in New York, London, and Paris, AVP supports companies in expanding internationally and provides portfolio companies with tailored business development opportunities to further accelerate their growth.
