Cashflow management start-up Agicap raises $100 million

French cash flow management start-up Agicap has raised $100 million in a Series B funding round.

Based in Lyon, the start-up provides a platform for SMBs to manage and plan their cashflows, which it says provides forecasts over one-, three-, six- and 12-month periods.

The round was led by San Francisco-based venture capital firm GreenOaks, who have previously made investments in corporate credit card firm Brex, Deliveroo, Robinhood and have around $7 billion in assets under management.

Founded in 2016, this round brings the company’s total funding to date to $121 million.

Agicap said it will use the capital to grow its headcount to 1,000 employees within the next two years.

The company claims to have 3,000 existing clients including photography company Meero, Shopify competitor Prestashop, and Pizza Hut.

Agicap currently operates in France, Germany, Spain, Italy and the Netherlands, with the French market generating 50 per cent of its revenue.

“This Series B comes at a key moment in our development,” co-founder and chief executive Sébastien Beyet said in a statement. “It demonstrates our will to make Agicap the European leader in our market and will allow us to further accelerate our international presence, launching in 10 new countries in the coming months.”

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