French fintech startup Agicap raises €15 million to bolster operations

French fintech startup Agicap raises €15 million to bolster operations

Published: 19-05-2020 12:51:36 | By: Bob Koigi | hits: 4285 | Tags:

 Agicap, a French-based startup building a SaaS platform for SMBs to manage and forecast their cash flows, has raised €15 million in a round led by Partech.

Existing investors BlackFin Capital Partners and Kima Ventures also participated in the round, which comes only 7 months after BlackFin led the company’s €2.4 million  seed round.

Agicap’s software gives small and medium-sized business owners real-time visibility over their cash via a simple, intuitive interface. By integrating not only bank account data but also data from accounting and factoring tools, CRMs, ERPs, and POS systems, Agicap offers an exhaustive, up-to-date view of a business’s cash position.

 The company has developed a proprietary classification technology that automatically categorizes inbound and outbound cash flows and generates base case forecasts. Both the labels Agicap’s system creates and the forecasts it produces can be fully customized, giving business owners complete control over how they monitor their cash and making the process of predicting future shortages less painful.

Many of Agicap’s 2,000 existing clients operate in industries severely affected by the crisis: hotels and restaurants, transportation, shops, industrial businesses, etc. Agicap works not only with independent small and medium-sized businesses but also with franchises like McDonald’s, Burger King, Ibis, Mont Blanc, and Best Western, as well as investor-backed startups like Cityscoot and Ornikar.

Antony Giordano, Co-founder, Père & Fish: “For restaurant owners, Agicap is the crystal ball we’ve been waiting for. With Agicap, my data is automatically entered and updated...I can make forecasts, evaluate investment options, and be reassured about my cash flows for the coming months.”

Sébastien Pellevrault, Manager, Rincent ND Technologies: “I used to spend more time in Excel than doing my actual job, which is to run a business. With Agicap, I save more than an hour per day on cash management, and I have clear forecasts for the next 12 months.”

This latest round will ensure Agicap can continue strengthening its product and growing its sales team to meet the increasing demand for its core offering, helping SMBs run their businesses more effectively using cash flow data. The company’s roadmap for launching new features and bringing more hands on deck to help entrepreneurs involves expanding from 30 to 100 employees in the next year.

Sébastien Beyet, CEO, Agicap: “Our goal is really to create a tool for running a business using cash flow data. This is very different from how SMBs tend to operate today. “Managing cash has become even more important as a result of the crisis. Entrepreneurs can use Agicap to monitor the impact of the crisis on a day-to-day basis and respond to different scenarios (long-term vs. short-term crisis, partial restart, etc.) with appropriate actions. Our tool can help reduce the stress entrepreneurs are dealing with and allow them to regain control over the situation.”

Philippe Collombel, General Partner, Partech:  “Agicap’s mission is particularly inspiring. They give SMBs a powerful tool for running their business by focusing on the #1 concern of most business owners: cash.”

www.agicap.fr

www.partechpartners.com