Danish Fintech Startup Ageras Group Raises €35 million from CIBC

Ageras Group, based in Denmark, has raised €35 million from CIBC Innovation Banking, according to a corporate statement.

Ageras, launched in 2012, has broadened its services over time and now provides a “financial cockpit” for small businesses, including banking accounting, invoicing, payroll, and more.

announced today that it has provided €35 million in growth capital financing to Ageras to accelerate the Copenhagen-based company’s strategic acquisitions pipeline and to expand its suite of software tailored to the demands of small businesses.

Rico Andersen, Ageras co-founder and CEO, said the funding would help them focus on their mission of acquiring companies that can enrich their “one and done financial cockpit” for SMEs:

“In the last year, we’ve acquired and added three companies to our product offering. Now, with CIBC Innovation Banking’s €35m investment, we’ll look to buy more, especially companies that have developed best-in-class products that either cement our position in one market or add mission-critical features that we can offer to all existing customers.”

Sean Duffy, Managing Director of CIBC Innovation Banking’s London, UK office, said they are delighted to be supporting Ageras:

“Their transformation of professional accounting services has led them to become a leader in the industry attracting new clients every day. CIBC is proud to be involved in Ageras’ exciting journey ahead.”

Ageras is also backed by Investcorp, Rabo Frontier Ventures (Rabobank), and Lugard Road Capital (Luxor Capital), among others.

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