AVP, the investor leading this funding round, manages over $2 billion in assets and focuses on high-growth technology companies.

The demand for effective cash management tools has surged due to high interest rates and economic uncertainties, prompting CFOs to prioritize cash management and forecasting.

Despite the pressing need for cash management solutions, a significant 80% of mid-market firms still rely on manual Excel-based processes, which are inefficient and time-consuming.

Co-founder Clément Mauguet underscored the critical importance of cash management for mid-market organizations, especially in the current economic climate.

The company aims to further enhance its software by incorporating features for managing foreign exchange risk and credit management.

Warda Shaheen, General Partner at AVP, expressed enthusiasm for Agicap's potential, highlighting its strong technology, product offerings, and rapid growth trajectory.

Agicap's clients manage an average of 15 bank accounts each, which complicates cash management across subsidiaries, countries, and currencies.

Agicap, a treasury management platform based in Lyon, has successfully secured €45 million (approximately $48 million) in a Series C funding round led by AVP, a global venture capital firm.

The new funding will primarily be allocated to enhancing product offerings, expanding the team, and increasing sales and customer support efforts, particularly outside of France, which currently generates over 50% of Agicap's revenue.

Since its previous Series B funding in 2021, Agicap has experienced remarkable growth, increasing its revenue sevenfold and expanding into several regions including DACH, Italy, the UK, Ireland, and Spain.

Currently, Agicap serves around 8,000 clients, primarily mid-sized companies with annual revenues between €5 million and €500 million, and emphasizes its focus on cash flow management.

Agicap's platform enhances efficiency by providing connectivity with banks and ERPs, allowing for improved visibility into cash positions and facilitating automated payments.