France-based Agicap is the creator of Agicap, a SaaS tool that assists businesses to manage and forecast their cash flow, and raises $100 million under the direction of Greenoaks with a value of $500 million or more.
French company Agicap Agicap, a French startup, has secured $100 million in a new financing round that Greenoaks led. The funding round today means Agicap has an estimated valuation of 500 million (EUR415 million). Agicap is developing a solution that will allow you to monitor the flow of cash in real-time as well as build reports and forecasts.
Alongside Greenoaks and the existing shareholders, BlackFin Capital Partners and Partech are also taking part in the round. It’s a huge jump from the previous round, which was $18 million. round.
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The basic concept behind Agicap is very simple. Small businesses rely upon Microsoft Excel to determine their cash flow weekly or monthly. In lieu of the export of .csv data from the bank account, join your banking accounts with Agicap to monitor your cash flow in real-time. In the same way, Agicap has developed integrations with accounting software and billing tools.
If you want to know what you’re doing in cash or credit card transactions, you can join your Agicap account the same way you would connect to an online analytics service. Agicap will attempt to analyze the amount you’re spending per branch and category. Following that, you’ll be able to create projections and take decisions according to forecasts.
It is specifically designed for small and medium-sized companies, Agicap has managed to convince over 3500 companies to sign up for the service. The company pays an annual cost. Customers comprise Cityscoot, Meero, Merci Handy, Ornikar, and Blend Burger.
Agicap is currently operating with Agicap in France, Germany, Spain, Italy and the Netherlands. France remains the largest contributor to 50 percent of the company’s revenues however other markets are expanding rapidly.
“This Series B comes at a key moment in our development,” co-founder and CEO Sebastien Beyer stated in an announcement. “It demonstrates our will to make Agicap the European leader in our market and will allow us to further accelerate our international presence, launching in 10 new countries in the coming months.”
After today’s round of funding, the company is planning some bold expansion plans. The company’s workforce has expanded from 30 employees to 200 over the past 12 months. It intends to grow to staff 1,000 employees over the next few years.