Agicap, a Lyon-based fintech startup, has raised $48 million (€45 million) in a Series C funding round led by AVP (formerly Axa Venture Partners). The platform centralizes cash-related data and offers tools for forecasting cash positions, simplifying treasury management for mid-sized companies with multiple bank accounts, subsidiaries, and currencies.
Agicap’s platform integrates with existing bank accounts, credit institutions, and ERP solutions, acting as a central hub for cash flow management. CFOs can view past and future cash flows, initiate transfers, and utilize additional features like accounts payable and receivable. These tools streamline payments, improve cash forecasting, and help businesses manage budgets effectively.
Serving 8,000 customers, half of whom are based in France, Agicap primarily targets mid-sized businesses with annual revenues ranging from €5 million to €500 million. The company’s success stems from its narrow focus on cash flow management, addressing an underserved market where 80% of CFOs still rely on Excel for treasury operations.
With the new funding, Agicap plans to expand its offerings to include credit management and foreign exchange risk tools, further enhancing its CFO suite. While exploring new functionalities, the company has no plans to become a financial institution or take on lending risks, opting to focus solely on software development.
Already cash-flow positive, Agicap is using the fresh capital to accelerate product development and expand its customer base across Europe, capitalizing on a growing market demand for efficient cash management solutions.
For the latest updates on business software and digital transformation with Staq Insider
Need expert help to select and purchase the right software stack, check Staq42