Following this announcement, Ageras’s partnership with Societe Generale will focus on acquiring Shine, a France-based SME fintech. This transaction will be fully in line with Ageras’ strategic plan that was announced with the successful raise of EUR 82 million in April 2024, and it will represent the company’s largest acquisition to date.
In addition, the company will continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry.
Throughout the addition of Shine, Ageras is expected to further strengthen its position as a provider of banking and accounting software for small and medium-sized enterprises (SMEs). In addition, the company will also focus on the process of expanding its footprint in the region of France, a core market for the fintech since its entry in 2021.
After the transaction is done, the addition of Shine’s banking tool is set to give Ageras the possibility to service the entire lifecycle for France-based small businesses and firms. This is expected to take place from the process of company formation to invoicing, accounting, and daily banking and transactions. At the same time, Shine’s expertise and technological solutions within banking are set to further strengthen Ageras’ banking activities across multiple geographical areas across Europe.
At the same time, this transaction would represent one of the potential two major acquisitions that the company is targeting in order to develop a pan-European firm in banking and accounting software, ahead of a potential IPO in 2026. When completed, the combination of Shine’s banking product with its broad banking, accounting, and business software is expected to enable Ageras to deliver a complete offering of key financial solutions in the region of France.
Following this initiative, Ageras is set to take over all the activities operated by Shine, as well as all the employees of the entity. The transaction is currently subject to applicable social procedures, unusual suspensive conditions, as well as the overall approval of the competent financial and regulatory authorities. In addition, the closing of the transaction is expected to take place in the first half of 2025.
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