Ageras acquires Kontist

The Danish group of companies will pay a double-digit million amount for this. The Kontist brand will continue to exist.

Denmark's Ageras Group is buying Berlin-based fintech Kontist, making its second acquisition in seven days. According to the Handelsblatt Rico Andersen, co-founder and CEO of the company, said the Kontist acquisition is an important milestone in Ageras' development. Germany is expected to become one of the group's most important markets as a result. For small businesses, Ageras offers accounting and financial software. The group says it serves more than one million customers in a total of twelve regions in Europe and the United States.

Ageras has been present on the German market since 2017, but exclusively as an online marketplace for accounting services. Until now, the company has only brokered suitable offers. With the acquisition of Kontist, this is now changing. In addition to bank accounts, the Berlin-based fintech also offers solutions for accounting and taxes. The offering is aimed primarily at freelancers. According to its own information, 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, Kontist's co-founder and CEO, and Andersen declined to give a specific figure. According to the company, the Berlin-based fintech had achieved a valuation in the mid-double-digit millions in its last financing round in early 2021. Both cash and shares will be accepted as payment for the price.

The Kontist name will continue despite the acquisition. Andersen: "Our strategy is to acquire local companies and help them grow." Ageras' 350 employees will work with Kontist's 150 in the future, as will the management group led by Plantener and Benjamin Esser, co-chief executive of Kontist.