France-based Agicap has announced that it closed a EUR 45 million Series C funding round, with the company planning to further solidify its position in Europe. Led by AVP, the Series C funding round brought EUR 45 million to Agicap, which now intends to leverage the capital to consolidate its operations across Europe as it expands its services in the small and medium-sized enterprise (SME) and midmarket treasury management space.

The company focuses its efforts on delivering C-suite and finance teams flexible and real-time visibility into current, historical, and upcoming cash flow data, together with an end-to-end suite of treasury management products. The current funding comes as an addition to a previous one from May 2021, in which Agicap obtained nearly EUR 95 million from investors such as Greenoaks, BlackFin Capital Partners, and Partech. At that time, the company aimed to grow its team and reach 1,000 employees within the next few years.

Since then, Agicap increased its revenue and expanded into four European regions, including DACH, Italy, the UK and Ireland, and Spain. Treasury management for small businesses Since the start of its operations, Agicap has been centring its efforts on serving the needs, demands, and preferences of SME and midmarket companies, which substantially contribute to the UK economy. When commenting on the announcement, representatives from Agicap mentioned that considering the current economic conditions, cash management represents an important aspect for organisations.

In addition, as midmarket companies reached higher complexity levels, it is difficult for them to manage and optimise their cash strategy. Through its solutions, Agicap aims to automate this process for them, providing insights in a short amount of time. Moreover, Agicap plans to leverage the Series C capital to continue to invest in its product, team, and expansion initiatives.

Among them, the company mentions consolidating its position in Europe by growing its operations, especially outside of France, optimise product capabilities, and augment its go-to-market strategy by increasing indirect channels via the network of treasury partners and integrators. .