Fintech Agicap raises 82 million euros

The French start-up Agicap wants to conquer the German market and declares it the most important for the company. Now, the fintech is raising 82 million euros in a financing round and wants to use it primarily to expand its Berlin office.

Since 2020, the French fintech Agicap has also been represented in Germany, and by the end of the year, the German market is set to become the most important for the start-up. Now Agicap is raising €82 million in a Series B funding round. The round was led by Greenoaks Capital, with existing investors such as BlackFin Capital Partners and Partech Partners also participating. The fintech says this gives it a valuation of €500 million.

"We will invest enormously in recruiting, especially in Germany, but also in our other locations, in order to further develop our solution," says Germany manager Stephan Krehl. The money will be used to expand the Berlin location.

Agicap offers a cash flow management solution primarily for small and medium-sized companies, which can view their finances in real time and, according to the company, make decisions more easily. Customers include Engel&Völkers and Clever Fit.

Existing investors are impressed by the start-up's development: "We have seen the company grow from eight employees to over 200. The lockdown phases in particular have shown how important it is for SMEs to keep track of their finances," says Gabrielle Thomas of BlackFin Capital Partners.

The fintech was founded in 2016 by Sébastien Beyet, Clément Mauguet and Lucas Bertola in Lyon. In the past twelve months, the team has grown from 30 to 200 employees, and the goal is to reach 1,000 employees within the next two years. The funding "will be instrumental in helping us expand our international presence in the coming months by opening ten more European markets," explains founder Beyet.