Ageras takes over Kontist

The Danish group of companies is paying an amount in the double-digit millions for this. The Kontist brand will continue to exist.

The Danish Ageras Group is buying the Berlin-based fintech Kontist, its second acquisition in seven days. According to the Handelsblatt Rico Andersen, co-founder and CEO of the company, explained that the acquisition of Kontist is an important milestone in the development of Ageras. It is expected that Germany will subsequently become one of the group's most important markets. Ageras offers accounting and financial software for small businesses. The group claims to serve over one million customers in a total of twelve regions in Europe and the USA.

Ageras has been present on the German market since 2017, but only as an online marketplace for accounting services. Previously, the company only brokered suitable offers. This is now changing with the acquisition of Kontist. In addition to bank accounts, the Berlin-based fintech also offers accounting and tax solutions. The offering is primarily aimed at freelancers. According to the company, 50,000 customers currently use Kontist.

The purchase price for the acquisition of all Kontist shares by Ageras is in the "double-digit million range". Christopher Plantener, co-founder and CEO of Kontist, and Andersen declined to give a specific figure. According to the company, the Berlin-based fintech achieved a valuation in the mid double-digit million range in its last financing round at the beginning of 2021. Both cash and shares will be accepted as payment for the price.

The Kontist name will continue to exist despite the takeover. Andersen: "Our strategy is to acquire local companies and help them grow." The 350 employees of Ageras will work together with the 150 employees of Kontist in the future, as will the management group led by Plantener and Benjamin Esser, Co-CEO of Kontist.