French treasury management platform Agicap has secured €45 million in a Series C funding round led by AVP, marking a pivotal step in its mission to become the global standard for cash flow management in the midmarket segment. The fresh funding aims to fuel Agicap's expansion across Europe, enhance product capabilities, and build on its goal to simplify cash management for small and mid-sized businesses. Founded in 2016, Agicap has gained traction among more than 8,000 businesses, providing C-suite executives and finance teams with real-time financial visibility and control.

Empowering Financial Leaders Amid Economic Uncertainty

Agicap’s platform, designed to meet the growing demand for effective cash management tools, offers an end-to-end suite of features enabling businesses to efficiently track, forecast, and manage cash flows. As CFOs navigate volatile economic conditions, the ability to manage cash flow has become critical. A recent survey conducted by Agicap in collaboration with Innofact, involving 500 European CFOs, found that 80% of midmarket companies still rely on outdated, spreadsheet-based processes for cash forecasting. This reliance, according to Agicap’s findings, results in manual, time-consuming cash management that is often inaccurate—especially as only 41% of firms reported conducting long-term cash forecasts.

“In today’s economic climate, effective cash management is more critical than ever,” stated Clément Mauguet, Agicap’s Co-founder and Chief Expansion Officer. “Midmarket companies face complex cash flow challenges, from monitoring various bank accounts across multiple currencies to tracking countless transactions. Agicap’s platform automates this process, enabling critical insights in minutes.”

Growth Journey and Strategic Expansion Plans

Agicap's rise in the market has been swift, with revenues increasing sevenfold since its last funding round in 2021, led by GreenOaks Capital. The company has expanded into several key regions, including DACH, Italy, the UK and Ireland, and Spain, solidifying its European presence. According to Agicap, these regions now contribute to over half of its total revenue, a testament to its appeal beyond its French origins. As the company sets its sights on 2025, it anticipates reaching positive cash flow in Europe, underscoring its operational efficiency and strong market positioning.

The company’s success rests not only on its revenue growth but also on its comprehensive product suite. Agicap has continued to enhance its Treasury Management System (TMS) with new features like accounts payable and accounts receivable automation, tailored to meet the needs of larger midmarket enterprises. This advancement reflects Agicap's commitment to adapting to the shifting demands of its clients as they scale.

Strategic Focus on Product Depth and Regional Growth

With the new funding, Agicap plans to deepen its investment in product development, expand its workforce, and accelerate its go-to-market strategy. The company will bolster its software suite with additional functionalities, such as modules for foreign exchange (FX) risk and credit management, aiming to address specific needs in the midmarket. According to Agicap’s leadership, improving these features will help companies optimize cash performance by leveraging insights into cash flow, liquidity planning, customer collections, spend management, and debt handling.

Geographic expansion remains a key priority. As part of its European growth strategy, Agicap will scale its sales and customer success teams in regions outside of France, where its client base has surged. Additionally, Agicap aims to expand its network of partners, including treasury management advisors and system integrators, to enhance its indirect sales channels and streamline customer acquisition.

“Midmarket firms can incur significant costs—up to €450,000 annually—due to inefficient cash management,” said Sébastien Beyet, CEO and Co-founder of Agicap. “Our objective is to help businesses reduce these losses and maximize their financial resources.”

AVP's Support and Investment Vision

This funding round represents AVP’s first investment in a European company from its newly launched €1.5 billion late-stage fund, created to support high-growth tech companies in Europe and the U.S. AVP's backing of Agicap signals a strong endorsement of its potential to redefine treasury management in the midmarket sector. AVP’s General Partner Warda Shaheen expressed enthusiasm for Agicap's growth trajectory, noting its sophisticated technology, impressive product depth, and proven scalability across European markets.

“We are thrilled to invest in Agicap as they work toward becoming the global leader in treasury management for the midmarket sector,” said Shaheen. “The company’s product-driven culture, strong customer loyalty, and rapid growth across diverse markets made them a clear choice for our investment.”

Continued Path Toward Financial Innovation

Agicap’s commitment to financial transparency and efficiency aligns with a growing demand for automated solutions that can simplify complex financial processes. By directly connecting with banks through localized protocols and a network of APIs, Agicap enables seamless data consolidation. Its platform integrates easily with other business software, such as ERP and finance systems, allowing CFOs and finance teams to access up-to-date cash flow data without manual intervention.

The platform’s intuitive design provides actionable insights that are essential for CFOs aiming to optimize cash performance, including effective liquidity management, timely customer collections, and strategic debt planning. Agicap has set out to become the standard-bearer for treasury management, transforming how midmarket companies handle cash flow challenges.

With its €45 million Series C funding, Agicap is well-positioned to advance its mission of becoming a global leader in treasury management. As it scales its operations and enhances its product suite, Agicap continues to serve a vital role for midmarket companies across Europe, providing essential tools to help them navigate an increasingly complex financial landscape. AVP’s investment not only reinforces Agicap’s growth potential but also highlights the increasing value of digital treasury management solutions in today’s market. Agicap remains focused on delivering innovative, automated tools to drive financial health and resilience among its expanding client base across Europe and beyond.