Investcorp’s Ageras raises $73 million in new capital
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Investcorp Technology Partners, a leading European technology investor, yesterday said its portfolio company, Ageras Group, a leading provider of recurring revenue-driven accountancy software, solutions and services to both Small and Medium Enterprises and Accountancy firms, has raised $73 million from Lugard Road Capital, the US-based alternative asset manager.
The new investment will be used to accelerate Ageras’ expansion into existing growth markets, creating the potential for both inorganic and organic growth opportunities.
Ageras operates in six markets: Denmark, the US, Sweden, Norway, Holland and Germany from its Copenhagen headquarters.
Gilbert Kamieniecky, Managing Director and Head of Investcorp’s Private Equity Technology business said: “The additional financing secured by Ageras will help to drive international expansion and support the continued innovation of its customer offering.” Rico Andersen, Chief Executive Officer, Ageras, added: “This latest financing round will support our ongoing commitment to scaling the Ageras brand and bringing our software offering to new customers across the globe.
We look forward to continuing the Ageras story in the years to come.”