The Ageras Group has raised €30 million ($34 million) to accelerate the expansion of its business described as a financial cockpit for SMEs. The company said the funding was raised from a group of American and European investors including seven new investors, Centripetal Capital and Saeid Esmaeilzadeh are participating and joining existing investors Investcorp Technology Partners, Lugard Road Capital, and Roosgruppen.
The company previously raised $73 million in early 2021.
Ageras Group CEO and Co-founder Rico Andersen called the funding a big milestone for his firm:
“What started as an online marketplace for small business owners to find accountants in Denmark has now expanded into a financial cockpit used by more than 1 million SMEs across Europe and the US, giving them a single, centralized destination for nearly all their needs—bookkeeping, accounting, payroll services, invoicing and now financial services.”
Ageras Group plans to focus on expanding in Scandinavia, Germany, France, and the United States. Ageras Group reports that it has grown its suite of Fintech software tools to include payroll services and freelancer-focused invoice management software through its acquisition and integration of two products – Salary and Zervant.
Ageras Group Co-founder and CMO Martin Hegelund said there are tens of millions of freelancers and SMEs that want backroom processes automated:
“That’s where Ageras Group comes in. Our ecosystem is simplifying the lives of small business owners, and our company grows alongside their companies’ growth. As they expand, their use of our products deepens.”
Ageras Group says it currently employs 250 across Europe and the US, plans to continue aggressively acquiring other Fintech software startups with its latest round.
“We feel blessed to enable SMEs across Europe and the US to manage their business and grow on their own terms,” added Andersen, who expects Ageras Group’s strong organic and M&A-driven growth to continue.