With the acquisition of Danish payment reconciliation software Storebuddy, accounting platform Ageras rolls-up its seventh company -preceded by its 2024 acquisition of business banking provider Shine from Société Générale– to complement its service offering and “enhance its position as a leading accounting platform for SMEs in Europe.”
Ageras, a fintech platform for accounting, admin and banking software for small businesses in Europe, has completed the full acquisition of Storebuddy; an integration software specialized in “automating accounting processes for online stores.”
With the undisclosed transaction, which follows Ageras’ 2024 acquisition of French business banking provider Shine from Société Générale, the Danish-founded accounting platform thus “adds a “7th gear” to its business software suite, to further enhance its position as a preferred accounting platform for small businesses in Europe, as well as expand its reach within the e-commerce sector.”
Martin Hegelund said:
“It truly is a magnificent ‘7th gear’ that we now integrate with the Ageras platform where we expect Storebuddy to grow significantly both at home and abroad due to our roll-up and European roll-out.”
The acquisition of Storebuddy is the Danish fintech platform’s latest step in a broader strategy to expand its “reach into digital payments, such as the e-commerce segment.”
And as the European e-commerce industry continues to expand, so does the complexity of the related accounting and reporting requirements for online store owners, “creating an increasing demand for specialised tools that simplify administration – which is exactly what Storebuddy represents, according to its founders.”
Storebuddy was founded in 2014 in Denmark and is today a SaaS product preferred by the likes of Nordgreen and Watery to “automate accounting and reconciliation of orders, online payments, payouts and fees as well as preparing one-stop-shop VAT reporting, which is often considered a hassle for e-commerce business owners and bookkeepers.”
In essence, Storebuddy is making the lives of Danish online store owners and “e-tailers” easier, and with the acquisition by Ageras, that experience will soon be underway to Ageras’ other European markets where the fintech accounting platform foresees huge customer demand.
As noted in the update, Ageras was founded in 2012 by entrepreneurs Rico Andersen and Martin Hegelund.
Ageras’ vision is to create success for small businesses by “simplifying their administration.”
By integrating its solutions into a single platform for invoicing, accounting, payroll, banking and financing, it “enables business owners to focus on running their business.”
The company’s investors reportedly include the following entities: Investcorp, Rabo Frontier Ventures (Rabobank) and Lugard Road Capital (Luxor Capital), Folketrygdfondet and Lazard.
