Ageras, the acquisitive Danish accounting software fintech, has made its eighth acquisition, snapping up Dutch payroll software firm Employes.
Founded in 2018 by Rob Kroezen and Marius van den Oever, Employes serves 6,000 firms with its “intuitive software”, which enables “do-it-yourself payroll in the complex Dutch regulatory environment”.
It has around 450 employees, a number that has doubled since last year. The move marks Ageras’ second acquisition of the year.
Kroezen, who will stay on in the combined entity, said: “We started Employes because we were frustrated with how difficult payroll management was for small business owners.
"Joining Ageras gives us the scale, reach, and resources to bring our product to even more entrepreneurs, and we’re therefore very excited for what’s ahead.”
Rico Andersen, CEO and co-founder of Ageras, said: “The acquisition doesn’t just make our Dutch offering much stronger but also gives us a proven, scalable platform to do even more with payroll - ultimately changing the way small businesses pay their wages and take the pain out of payroll. No doubt, this is our most significant acquisition since Shine joined us last year."
Ageras, which is backed by Investcorp, Coller Capital and Lazard, is a pan-European software platform offering invoicing, accounting, banking and payroll features. It provides accounting software to over 300,000 European small businesses. Ageras integrates its solutions into a single cockpit for invoicing, accounting, payroll, banking and finance, enabling business owners to focus on running their business.
The fintech reported revenues of €31.7m in the year ending December 2023, on a profit of €1.2m. It says it is aiming to continue its acquisition spree.
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