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On middling , Agicap ’s clients manage 15 different depository financial institution accounts each . So the chief financial military officer ( CFO ) working for these companies sometimes struggle to check that that there will be enough money in the correct bank story to pay employee and suppliers across unlike subsidiary , country and currency .
That ’s also why they turn toAgicapto centralize Johnny Cash - related data and calculate future cash positions . The Lyon - based inauguration just raise a Series C funding rhythm of € 45 million ( around $ 48 million at current exchange charge per unit ) from a single investor , AVP , the VC house previously recognise as Axa Venture Partners .
The fintech startup previouslyraised$100 million , back in 2021 , right in the middle of the digital funding delirium around the pandemic . At the time , the company reached a rating of € 415 million ( or around $ 450 million at current exchange rate ) . The note value of the business has since inflated “ substantially ” , per Agicap , though it is n’t disclosing by how much .
“ We are n’t disclosing the precise evaluation , but we have managed to increase it substantially since 2021 , ” co - founding father and CEO Sébastien Beyet ( pictured above ) enjoin TechCrunch . press on this he gave us a hint of the newfangled rating : Les Échos previouslyreportedthat Agicap was raise at a valuation between € 700 million and € 800 million ( or $ 750 million to $ 860 million ) — and Beyet said : “ We ’re sticking with this compass . ”
Narrow focus — ‘huge’ market
Agicap ’s relative success comes down to a narrow stress on treasury management software package — it is n’t endeavor to do everything at once like most fintech startups .
It ’s also a relatively untapped grocery store as many companies still bank on Excel and single file export from banking company history and ERP software . Evidence of this lies in a recent study Agicap did with 500 European CFOs of midmarket companies . When necessitate about the tool of choice to finagle and forecast their hard currency positions , 80 % of them answer Excel .
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Agicap customers can sync data from their existing cant accounts , credit establishment and ERP solutions . It then roleplay as a central repository to view everything related to past and succeeding cash flow . But Agicap is n’t just a visual image splasher ; users can broach and schedule transfers directly from its interface , too .
“ We call back that we ’ll be able to use hard currency management as the basis for what we call the CFO suite , and provide other tools to chief financial officer and financial officer , ” Beyet said .
In that vein , more late , the inauguration add accounts collectible and account receivable . These features avail you get paid quicker as you’re able to see pending invoices and prod customer in compositor’s case they ’re former . likewise , Agicap significance purchase orders so that you’re able to pay suppliers on clock time and use that data for your upcoming budgets .
The startup presently has 8,000 customers with around half of them in France . Most of its persist customers are spread across other European rural area . “ We pore on mid - sized company , with an annual revenue of € 5 million to € 10 million on medium — and up to € 500 million , ” Beyet allege .
“ We ’ve already reached a give way - even position on a cash basis for this quarter . So we did n’t need to kindle any additional funds to continue our maturation . But we believe our market is Brobdingnagian , ” he bestow .
In addition to hire raw people to find new customers , Agicap plans to use the funding to found new feature article around credit rating management and extraneous commutation risk direction .
What about volunteer credit mathematical product directly ? “ We do n’t desire to become a bank , ” sound out Beyet . “ In other words , we do n’t want to take on the fiscal risk of lending money ourselves . We know how to make software , and that ’s what we intend to focalize on . ”
