Fintech
Danish fintech Ageras is targeting acquisitions
After reporting a profit for 2023, Danish fintech Ageras, which specializes in accounting software, has set its sights on securing one or two “major acquisitions”.
Ageras, which provides accounting, banking and business software to over 300,000 European SMEs, reported revenue growth of 53%, with revenue of €31.7 million and its first profitable EBITDA of €1.2 million for 2023.
The results, combined with a recent €83 million funding round, leave Ageras keen to take advantage of a “growing market appetite” for pan-European consolidation in the fintech sector. The company, which employs about 250 people, wants to make one or two purchases ahead of a potential IPO in 2026.
Rico Andersen, CEO of Ageras, says: “This is a unique platform for consolidation and further growth and, as other European fintech and SaaS companies have been affected following the financial turmoil of the last two years, we believe there is both an offer and a demand for pan-European consolidation on our platform for accounting and banking software, together we can conquer the niche.”