Investcorp company Ageras raises $73m from US asset manager
24 February, 2021
Ageras Group, a good portfolio enterprise of Bahrain-based solution asset supervisor Investcorp, raised $73 million in new financing from US-based Lugard Highway Capital.
The Copenhagen-headquartered company provides accountancy software to small and medium-sized businesses. It includes a recurring revenue version and operates in six market segments: Denmark, the US, Sweden, Norway, holland and Germany.
“The additional financing secured by Ageras will help to drive international expansion and support the continued innovation of its customer offering,” Gilbert Kamieniecky, managing director and head of Investcorp’s private equity technology business, said.
Along with providing accountancy software, Ageras operates an online market place connecting small and channel enterprises with professional services providers such as for example accountants, bookkeepers and lawyers.
The new investment will be used to accelerate Ageras’ expansion into existing growth market segments, creating potential for both inorganic and organic and natural growth opportunities, the statement said.
"This latest financing circular will support our ongoing determination to scaling the Ageras company and provide our software offering to new customers around the world," the company's chief executive, Rico Andersen, said.
Investcorp has backed Ageras through Investcorp Technology Partners, which handles the asset manager's tech investments in Europe. It requires stakes in mid-market companies, with a specific give attention to software, info analytics, cyber secureness and FinTech firms.
Other latest investments have included Avira, a multinational cyber security program firm; Contentserv, something information management software company; Ubisense, an enterprise computer software and sensor program; and Softgarden, a HR computer software provider.
With a occurrence in 12 countries across the US, Europe, GCC and Asia, Investcorp, which counts Abu Dhabi’s Mubadala Investment Company as its biggest shareholder, had $35 billion altogether assets under management towards the end of last year.
Last month, the business rolled away Investcorp iPartners platform, a fresh FinTech offering which will allow investors to browse, examine and invest in private equity, property and other offerings.
Source: www.thenationalnews.com