Treasury management platform Agicap has announced €45 million in Series C funding.

The French FinTech said the funding would enable it to expand its sales and customer success teams, particularly outside of France, with other markets accounting for more than 50 per cent of its revenue.

The company's platform provides the C-suite and finance teams with flexible and real-time visibility into current, historical and projected cash flow data, alongside a suite of treasury management tools.

Agicap added that the funding round, led by AVP, would help it "double down" on product depth and capabilities by reinforcing its software to better address the needs of midmarket firms across its product suite, including foreign exchange risk and credit management.

The business also plans to expand indirect channels through the network of treasury partners and system integrators.

“In today’s economic conditions, the importance of cash management is paramount," said Clément Mauguet, co-founder & chief expansion officer, Agicap. “Mid-market organisations have reached a level of complexity that makes it challenging for them to properly manage and optimise their cash strategy, given the need to track countless incoming and outgoing cash flows across multiple entities with numerous bank accounts and currencies."

The move marks the first European investment from AVP’s newly created €1.5bn late-stage fund, a vehicle dedicated to supporting high-potential technology scale-ups in Europe and the US.

According to Agicap, since its Series B funding round in 2021, it has increased its revenue by seven times and expanded into four regions: DACH, Italy, the UK & Ireland, and Spain.

The company expects to generate positive cash flow in Europe by beginning of 2025.

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