Agicap, a cash flow management platform based in Lyon, has recently secured a significant amount of funding to further develop its services. The company focuses on helping CFOs of various companies streamline their cash-related data and forecast future cash positions. With an average of 15 bank accounts to manage per client, CFOs often struggle to ensure that there is enough money in the right account to cover expenses across different subsidiaries, countries, and currencies.
The recent Series C funding round of €45 million (approximately $48 million) was led by AVP, previously known as Axa Venture Partners. This investment comes after Agicap raised $100 million in 2021, reaching a valuation of €415 million (around $450 million). The company’s valuation has significantly increased since then, with reports suggesting a valuation between €700 million and €800 million (or $750 million to $860 million).
Unlike many fintech startups, Agicap’s success can be attributed to its narrow focus on treasury management software. While most companies still rely on Excel and manual processes to manage cash positions, Agicap offers a centralized platform for syncing data from bank accounts, credit institutions, and ERP solutions. This allows CFOs and financial departments to view and analyze past and future cash flows in one place.
In addition to cash management, Agicap has expanded its services to include accounts payable and accounts receivable features. These tools help users get paid faster, manage pending invoices, and pay suppliers on time. The company’s customer base consists mainly of mid-sized companies with annual revenues ranging from €5 million to €10 million, with some larger clients up to €500 million.
Despite reaching a break-even position in terms of cash flow, Agicap plans to use the recent funding to hire new employees, expand its customer base, and launch new features related to credit management and foreign exchange risk management. However, the company has no intention of offering credit products directly or becoming a bank. Instead, Agicap aims to focus on software development and providing valuable tools to CFOs and treasurers.
With over 8,000 customers, half of which are based in France, Agicap continues to grow and innovate in the cash flow management market. By staying true to its core offering and addressing the specific needs of financial departments, the company is well-positioned to make a significant impact in the industry.
