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Accountancy software platform plans further expansion following funding boost
A geras Group , a group of companies backed by Investcorp Technology Partners ‘ ITP ’) that offers a range of missioncritical accountancy software solutions to small businesses , has announced it has received a US $ 73 million investment .
The firm , also known for its online marketplace Ageras . com which helps business owners save time and money by comparing quotes from qualified accountants , plans to continue expanding its matchmaking service globally and acquire more businesses that make life easier for small business owners .
Ageras will be utilising the investment round from Lugard Road Capital – a multi-billion dollar global investment fund focused on public and private companies in the Internet , software , consumer and technology sectors – to grow the business in the US and abroad , and acquire more Business-to-Business (‘ B2B ’) software companies .
Ageras also aims to begin building banking services directly into its current offerings . The company ’ s fully integrated , on-demand accounting ecosystem will encompass accounting talent sourcing , digital accounting services and bank services . Clients will have a one-stop dashboard from which they can control all of their company ’ s financial requirements – for example , time tracking , invoicing , live on-demand P & Ls , cash flows and a myriad of bank solutions .
“ By 2023 , we ’ ll be well-positioned as a data-driven , one-stop solution for SMEs and will have our sights set on subsequent acquisitions ,” said Rico Andersen , Co-founder and Group CEO . “ Therefore , we will be investing our cash injection to continue growing our marketplace globally and acquiring businesses that eliminate the administrative burden of running a business , so owners can focus on growing and developing their businesses instead of maintenance .”
After being bootstrapped for five years , Ageras has been backed by ITP since 2017 . ITP will continue as majority shareholders , supporting the company ’ s ambitions to grow towards a potential IPO . A part of the US $ 35 AUM alternative asset manager Investcorp , ITP has led investments in other successful technology companies , such as Avira , Impero , Calligo , softgarden and Ubisense .
“ Ageras makes life easier for business owners by giving them the financial tools for success . We are able to expedite and address any accounting need in an easy and accurate fashion ,” said Martin Hegelund , Co-founder and Group CMO . “ Beyond offering a full suite of online accounting software solutions and soon-to-come banking solutions , our online marketplace allows businesses to find curated and prevetted accountants who are well-suited for their particular project and budget .
“ Concurrently , we provide a hands-off , user-friendly and convenient marketing solution for accountants , allowing them to spend more time running their firm and less time worrying about marketing .” �
BY 2023 ,
WE ’ LL BE WELL-POSITIONED AS A DATA-DRIVEN , ONE-STOP SOLUTION FOR SMES AND WILL HAVE OUR SIGHTS SET ON SUBSEQUENT ACQUISITIONS .
Intelligent SME . tech