Ageras Group Raises $73M to Expand its Ecosystem Further into B2B Fintech

Ageras Group logo

Ageras Group, our umbrella-group of companies that offer a range of accounting software solutions to small businesses, has 73 million more reasons to continue expanding our matchmaking service globally.

We will be utilizing a recent $73 million investment round from New York based Lugard Road Capital—a multi-billion dollar global investment fund primarily focused on public and private companies in the Internet, software, consumer, and technology sectors—to, in part, grow our business in the US and abroad, and in part to acquire more businesses that can make life easier for small business owners.

With that, our fully integrated, on-demand accounting ecosystem will encompass digital accounting services, talent sourcing, and more - making us a true 360-degree platform for any business accounting and financial need.

"By 2023, we’ll be well-positioned as a data-driven, one-stop solution for SMEs and will have our sights set on subsequent acquisitions,” said Rico Andersen, Co-founder and Group CEO.

“Therefore, we will be investing our cash injection to continue growing our marketplace globally and acquiring businesses that each, in their own way, eliminate the administrative burden of running a business, so owners can focus on growing and developing their businesses instead of just maintaining them."

Rico Andersen

By 2023, we’ll be well-positioned as a data-driven, one-stop solution for SMEs
Rico Andersen Group CEO

As an entrepreneur-driven operation ourselves, we can understand and relate to your needs for a sufficient overview of your business so you can focus on the right things.

We are excited to become your “business service supermarket,” so you will have a one-stop dashboard from which you can control all of your company’s financial requirements. Time tracking, invoicing, live on-demand P&Ls, cash flows, and a myriad of other financial solutions, are services to look forward to in the future.

"Ageras makes life easier for business owners by giving them the financial tools for success. We are able to expedite and address any accounting need they have in the easiest and most accurate fashion," said Martin Hegelund, Group CMO.

"Beyond offering a full suite of online accounting software solutions, and other soon-to-come financial solutions, our online marketplace allows businesses to find highly curated and pre-vetted accountants who are well-suited for their particular project and budget. Concurrently, we provide a hands-off, user-friendly, and convenient marketing solution for accountants, allowing them to spend more time running their firm and less time worrying about marketing."

Martin Hegelund

Ageras makes life easier for business owners by giving them the financial tools for success
Martin Hegelund Group CMO

The B2B accounting and financial services market is ready for disruption. Driven by this recent $73 million cash infusion, we will be working towards becoming a one-stop solution where B2B customers can find solutions for any and all of their financial service needs.

We have now served more than 340,000 business owners worldwide. Our expansive network of more than 5,000 accounting professionals are availed to businesses in a risk-free quality assured capacity for any type of accounting and bookkeeping need—from annual reports and bookkeeping, to tax preparation both business and personal, plus everything in between.

Martin Hegelund and Rico Andersen

More About Ageras Group

  • Ageras Group was founded in 2012 by serial entrepreneurs Rico Andersen and Martin Hegelund, who between them have 25 years of experience in building internet companies. Before Ageras, the pair founded an online marketplace matching households with gig workers such as house cleaners and carpenters.
  • Ageras Group started as the online marketplace Ageras.com (matching SMEs with accountants), but has since built the digital accounting solution Meneto and acquired the accounting software companies Billy (Denmark) and Tellow (The Netherlands).
  • Ageras Group’s solutions have 340,000 users in total.
  • The company was bootstrapped for its first five years, until the global private equity firm Investcorp Technology Partners acquired a majority stake in 2017. In 2020 the Dutch bank Rabobank invested in the group through its venture arm, Rabo Frontier Ventures.
  • Ageras Group has offices in the US and across Europe and has approximately 200 employees.
  • Lugard Road Capital is a New York-based multi-billion dollar global investment fund primarily focused on public and private companies in the Internet, software, consumer, and technology sectors.

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