Agicap raises $48 million
SaaS platform for SMBs to manage and forecast their cash flows Agicap announced a $48 million Series C funding round led by AVP.
“In today’s economic conditions, the importance of cash management is paramount. Mid-market organizations have reached a level of complexity that makes it challenging for them to properly manage and optimize their cash strategy, given the need to track countless incoming and outgoing cash flows across multiple entities with numerous bank accounts and currencies. Agicap automates this entire process, offering critical insights in just minutes.” – Clément Mauguet, Co-founder & Chief Expansion Officer, Agicap.
Agicap empowers 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) as well as integration with ERPs, finance and other business enablement tools. The platform also offers actionable levers to improve cash performance and simplify liquidity management with optimized payment strategies, customer collections, debt and investment management, spend management and more.
“Midmarket companies lose an average of €450k annually on overdraft fees and financial income due to inefficient cash management. Agicap’s purpose is to bring this figure close to zero.” – Sébastien Beyet, Co-founder & CEO, Agicap.
“We are thrilled to invest in the exceptional team at Agicap as they continue on their path to become the next generation global Treasury Management System. Agicap has the best-in-class technology, deepest product offering with the highest accuracy. We were thoroughly impressed by the product-driven culture, strong customer references, rapid growth and seamless ability to scale in different markets. We look forward to being a long-term partner of Agicap as they continue on their global expansion journey.” – Warda Shaheen, General Partner, AVP.
Agicap will use the Series C funds to continue investing in its product, people, and growth initiatives.