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Lyon-based Agicap raises €45M: Co-founder & CEO Sébastien Beyet on helping SMBs and midmarket companies with treasury management
- Agicap, a treasury management platform, has raised €45m in a Series C funding round led by AVP.
- The funds will be used to continue investing in the platform's products, people, and growth initiatives.
- The company aims to expand its sales and customer success teams and accelerate partnerships and indirect channels in other countries.
- The company will also focus on improving its go-to-market strategy through expanding indirect channels and improving its software and organisation.
- Agicap provides C-suite executives and finance teams easy access to real-time cash flow data as well as a full range of treasury management tools.
- The company supports more than 8,000 companies by simplifying the consolidation of cash flow data through unique and direct bank connectivity, via local protocols, an extensive network of real-time APIs, and Swift.
- According to the company's recent survey of 500 European CFOs, mid-market companies lose, on average, €40,000 due to overdraft fees from poor cash balancing and around €400,000 in missed financial investment opportunities because idle cash is not utilised productively.
- 80% of midmarket firms still rely on Excel-based processes to manage and forecast their cash positions.
- AVP, a global venture capital firm, led the funding round and has invested in more than 60 technology companies in the Venture and Growth stages in the US and Europe.
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