Agicap closes €45m Series C funding round led by AVP. The round will enable the all-in-one treasury management platform to further consolidate its leadership position in Europe as it scales to become a global reference in the SMB and midmarket treasury management space.

Agicap provides the C-suite and finance teams with flexible and real-time visibility into current, historical and projected cash flow data, alongside a comprehensive, end-to-end suite of treasury management tools.

Cash management and forecasting have become top priorities for CFOs navigating increasingly uncertain macroeconomic conditions. Yet, Agicap’s recent survey (in partnership with Innofact) of 500 European CFOs revealed that 80% of midmarket firms still rely on Excel-based processes to manage and forecast their cash positions – a manual, time-consuming task with only 41% conducting long-term cash forecasts.

Since its inception, Agicap has emerged as the leading treasury management platform for SMB and midmarket companies, the driving force of the UK economy. “In today’s economic conditions, the importance of cash management is paramount.” says Clément Mauguet, Co-founder & Chief Expansion Officer, Agicap.

“Mid-market organisations,” continues Mauguet, “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.”

Since its Series B funding in 2021, led by GreenOaks Capital, Agicap has increased its revenue by 7x and solidified its leadership position in Europe by expanding into 4 regions (DACH, Italy, UK & Ireland, Spain), while demonstrating strong efficiency, with the company projected to generate positive cash flow in Europe by beginning of 2025.

Agicap has also enhanced its Treasury Management System with new product offerings (such as accounts payable automation, accounts receivable automation and spend management) designed to serve larger midmarket customers as the company scales upmarket.

Agicap will use the Series C funds to continue investing in its product, people, and growth initiatives. The transaction proceeds will support efforts to:

• Consolidate its leadership in Europe by expanding sales and customer success teams, especially outside of France (other countries already account for over 50% of total revenue)
• Double down on product depth and capabilities by reinforcing its software and organisation to better address the unique needs of midmarket firms across the product suite (e.g., FX risk and credit management modules)
• Strengthen its go-to-market strategy by expanding indirect channels, through the network of treasury partners and system integrators

This marks the first European investment from AVP’s newly created €1.5bn late-stage fund, a vehicle dedicated to supporting high-potential technology scale-ups in Europe and the US.  Warda Shaheen, General Partner, AVP says “We are thrilled to invest in the exceptional team at Agicap as they continue 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 their global expansion journey.”