Agicap, a Lyon-based startup that provides cash flow management services to small and medium-sized enterprises (SMEs), has raised €2.4 million in a funding round led by BlackFin Capital and Kima Ventures, the venture capital fund of French billionaire Xavier Niel. The funds will be used to support the company's growth plans.
Agicap's cloud-based solution helps SMEs manage their cash flow, providing real-time visibility into their financial position, forecasting future cash flows, and identifying potential issues. The solution is aimed at SMEs in a range of sectors, including retail, artisanal, start-ups, and web agencies.
Founded in 2016, Agicap has already attracted more than 1,000 customers. The startup's solution is designed to be an "everyday decision-making tool" for business leaders, providing them with the insights they need to make informed decisions about their cash flow.
BlackFin Capital is a European fund that invests in financial services companies, while Kima Ventures is a seed-stage fund that invests in startups across a range of sectors. Xavier Niel, the founder of Kima Ventures, is a well-known figure in the French startup scene, having co-founded telecoms company Free and launched the Station F startup campus in Paris.
The funding round is expected to help Agicap expand its customer base and further develop its product offering. The company is aiming to become a leading provider of cash flow management solutions for SMEs across Europe.