Treasury management leader Agicap raises €45m in Series C led by AVP

November 26, 2024

Agicap, a leading treasury management platform for SMB and midmarket firms, has secured €45m in a Series C funding round led by AVP.

The investment round was led by AVP, marking its first European investment from its new €1.5bn late-stage fund, and signifies strong confidence in Agicap’s technology and growth potential.

Founded in 2016, Agicap offers a comprehensive suite of treasury management tools, integrating real-time cash flow visibility, banking connectivity, and ERP solutions. The platform helps finance teams streamline cash management and forecasting, critical in today’s unpredictable economic landscape. With over 8,000 companies using its services, Agicap has become a cornerstone for operational efficiency across Europe.

The Series C funding will be used to enhance Agicap’s product capabilities, expand its workforce, and strengthen its go-to-market strategies. The company plans to grow its sales and customer success teams outside France, improve its product offerings with features like FX risk and credit management modules, and expand indirect channels via treasury partners and system integrators.

This funding round follows Agicap’s Series B in 2021, led by GreenOaks Capital. Since then, the company has grown its revenue sevenfold, expanded into key European markets such as the UK, Ireland, and Spain, and is on track to achieve positive cash flow in Europe by early 2025.

Agicap co-founder and chief expansion officer Clément Mauguet, said, “In today’s economic conditions, the importance of cash management is paramount. Mid-market organizations have reached a level of complexity that makes it challenging for them to properly manage and optimize their cash strategy, given the need to track countless incoming and outgoing cash flows across multiple entities with numerous bank accounts and currencies. Agicap automates this entire process, offering critical insights in just minutes.”

Sébastien Beyet, co-founder and CEO of Agicap, added: “Midmarket companies lose an average of €450k annually on overdraft fees and financial income due to inefficient cash management. Agicap’s purpose is to bring this figure close to zero.”