Agicap raises USD 100 mln in funding round

With this funding round, the company has reached a valuation of more than USD 500 million. In addition to Greenoaks, existing investors BlackFin Capital Partners and Partech are also participating in the round.

Agicap is building a service that lets customers track their cash flow in real time, build reports and get forecasts. According to TechCrunch, many small companies rely on Microsoft Excel to figure out their cash position every week or every month. Instead of exporting .csv files from their bank accounts, they can connect the bank accounts to Agicap for real-time monitoring. Similarly, Agicap has developed integrations with accounting software and invoicing tools.

Following this funding round, the company has some expansion plans. The company’s team has already grown from 30 employees to 200 employees over the last 12 months. Now, it plans to build a team of 1,000 employees within the next couple of years.