Agicap secures $48 million for its cash flow management platform
On average, Agicap’s clients manage 15 different bank accounts each. So the chief financial officers (CFOs) working for these companies sometimes struggle
On average, Agicap’s clients manage 15 different bank accounts each. So the chief financial officers (CFOs) working for these companies sometimes struggle to make sure that there will be enough money in the right bank account to pay employees and suppliers across different subsidiaries, countries and currencies.
That’s also why they turn to Agicap to centralize cash-related data and forecast future cash positions. The Lyon-based startup just raised a Series C funding round of €45 million (around $48 million at current exchange rates) from a single investor, AVP, the VC firm previously known as Axa Venture Partners.
The fintech startup previously raised $100 million, back in 2021, right in the middle of the digital funding frenzy around the pandemic. At the time, the company reached a valuation of €415 million (or around $450 million at current exchange rates). The value of the business has since inflated “substantially”, per Agicap, though it isn’t disclosing by how much.
“We aren’t disclosing the exact valuation, but we have managed to increase it substantially since 2021,” co-founder and CEO Sébastien Beyet (pictured above) told TechCrunch. Pressed on this he gave us a hint of the new valuation: Les Échos previously reported that Agicap was raising at a valuation between €700 million and €800 million (or $750 million to $860 million) — and Beyet said: “We’re sticking with this range.”
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well with 48 million dollars I think that problem should be solved well enough 🤔 15 accounts for clients wow😳