Agicap secures $48 million for its cash circulation administration platform

On widespread, Agicap’s purchasers deal with 15 utterly totally different monetary establishment accounts each. So the chief financial officers (CFOs) working for these corporations usually wrestle to make sure that there shall be ample money in the most effective checking account to pay employees and suppliers all through utterly totally different subsidiaries, nations and currencies.

That’s moreover why they flip to Agicap to centralize cash-related data and forecast future cash positions. The Lyon-based startup merely raised a Assortment C funding spherical of €45 million (spherical $48 million at current commerce prices) from a single investor, AVP, the VC company beforehand known as Axa Enterprise Companions.

The fintech startup beforehand raised $100 million, once more in 2021, correct in the midst of the digital funding frenzy throughout the pandemic. On the time, the company reached a valuation of €415 million (or spherical $450 million at current commerce prices). The value of the enterprise has since inflated “significantly”, per Agicap, though it isn’t disclosing by how quite a bit.

“We aren’t disclosing the exact valuation, nevertheless now we’ve managed to increase it significantly since 2021,” co-founder and CEO Sébastien Beyet (pictured above) suggested TechCrunch. Pressed on this he gave us a contact of the model new valuation: Les Échos beforehand reported that Agicap was elevating at a valuation between €700 million and €800 million (or $750 million to $860 million) — and Beyet talked about: “We’re sticking with this range.”

Slender focus — ‘huge’ market

Agicap’s relative success comes proper right down to a slim cope with treasury administration software program program — it isn’t making an attempt to do each half immediately like most fintech startups.

It’s moreover a relatively untapped market as many corporations nonetheless rely upon Excel and file exports from monetary establishment accounts and ERP software program program. Proof of this lies in a present look at Agicap did with 500 European CFOs of midmarket corporations. When requested regarding the instrument of choice to deal with and forecast their cash positions, 80% of them answered Excel.

It’s moreover value noting that Agicap’s main purchasers are CFOs and financial departments. And when teams in command of money like a product they’re not going to unsubscribe anytime rapidly.

Agicap purchasers can sync data from their present monetary establishment accounts, credit score rating institutions and ERP choices. It then acts as a central repository to view each half related to earlier and future cash flows. Nonetheless Agicap isn’t solely a visualization dashboard; prospects can provoke and schedule transfers straight from its interface, too.

“We predict that we’ll be succesful to make use of cash administration as the concept for what we title the CFO suite, and provide totally different devices to CFOs and treasurers,” Beyet talked about.

In that vein, additional simply these days, the startup added accounts payable and accounts receivable. These choices allow you receives a fee sooner as you may even see pending invoices and nudge purchasers in case they’re late. Equally, Agicap imports purchase orders in order that you could possibly pay suppliers on time and use that data in your upcoming budgets.

The startup presently has 8,000 purchasers with spherical half of them in France. Most of its remaining purchasers are unfold all through totally different European nations. “We cope with mid-sized corporations, with an annual earnings of €5 million to €10 million on widespread — and as a lot as €500 million,” Beyet talked about.

“We’ve already reached a break-even place on a cash basis for this quarter. So we didn’t need to carry any additional funds to proceed our enchancment. Nonetheless we think about our market is huge,” he added.

Together with hiring new of us to hunt out new purchasers, Agicap plans to utilize the funding to launch new choices spherical credit score rating administration and abroad commerce risk administration.

What about offering credit score rating merchandise straight? “We don’t want to alter right into a monetary establishment,” talked about Beyet. “In numerous phrases, we don’t have to sort out the financial risk of lending money ourselves. Everyone knows the way in which to make software program program, and that’s what we intend to cope with.”