Categories: B2B Payments

Agicap Closes Funding Round With $16M

Agicap, a French Software-as-a-Service (SaaS) startup that works with business cash flow data, announced the end of a funding round that netted it 15 million euros ($16.3 million), according to a report.

The round was led by Partech.

Agicap also recently had a seed round in which it raised 2.4 million euros ($2.6 million) and was led by BlackFin Capital Partners, which also invested in this current round along with Kima Ventures.

The money will go toward boosting Agicap’s sales team with a goal of adding between 30 and 100 employees over the next year, according to the report.

Agicap’s stated goal is to provide small- to medium-sized businesses (SMBs) with a tool to help them track finances. CEO Sébastien Beyet said the company wants to create a different kind of mode of running a business by using cash flow data.

Agicap’s technology works by integrating bank account information with accounting and factoring tools, as well as customer relationship management (CRM), enterprise resource planning (ERP) and point-of-sale (POS) systems, to classify inbound and outbound information and look at base forecasts. The options can be customized depending on companies’ individual needs.

The company’s technology has about 2,000 users thus far, and franchises like McDonald’s, Burger King and Best Western have been among the users, among others.

SaaS models are becoming increasingly popular in the business world, with companies looking for multiple features in subscription services instead of the old way of buying a product one time. A survey by FastSpring of its customers found that around 70 percent of them were considering moving to SaaS models sometime over the next year.

The challenge that comes with that shift is that SaaS models require detailed changes to multiple aspects of a business’s operation, rather than just installing one new program. But the benefit comes in the increased option for customization. Payment styles, then, can be adjusted at will.

Get our hottest stories delivered to your inbox.

Sign up for the Newsletter to get updates on top stories and viral hits.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

Recent Posts

Trump’s WeChat Ban Could Rock The US Consumer Landscape

President Donald Trump has issued two executive orders in two days banning two Chinese behemoths from operating in America –…

36 mins ago

US DOJ Charges 14 With $28M In PPP Fraud

The U.S. Department of Justice (DOJ) charged 14 people in two separate investigations into their alleged participation in schemes to defraud the…

4 hours ago

Digital IDs For Online Bowling, Voice Commerce, Apple’s Mobeewave Deal Top This Week’s News

Top News Apple Buys Mobeewave for $100M Apple has purchased Canadian company Mobeewave, which will allow it to create mobile…

4 hours ago

TikTok ‘Shocked’ By Trump’s Executive Order

In its first public statements about President Donald Trump’s executive order to ban TikTok, the Chinese company said it is…

5 hours ago

Microsoft, Facebook Express Frustration With Apple’s Gaming App Policies

Microsoft and Facebook are grumbling publicly about fellow tech giant Apple's policies restricting access to coveted slots in its App…

6 hours ago

Mercari’s Revenues Pop 48 Pct For FY2020, But Losses Also Grow

Mercari, the Japanese shopping platform that allows users to buy and sell almost anything, reported its net sales surged nearly…

6 hours ago