Ageras cracks the code to profitable growth -- two years in a row

COPENHAGEN, Denmark, June 4, 2025 /PRNewswire/ -- Ageras - the European provider of accounting software, business banking, and admin tools - today announced its annual results for 2024, achieving profitability for the second year in a row. This year marked a major milestone, with strong revenue growth of 114%. Ageras stood out by achieving profitability, completing major strategic acquisitions - including its largest deal to date, the acquisition of French fintech Shine, a licensed payment institution – and laying the foundation for continued growth.

"This year's results are the outcome of staying focused on what really matters: solving real problems for small businesses," says Rico Andersen, CEO of Ageras. "We're building tools that simplify their lives and we're doing it in a way that's both sustainable and scalable. That's how we've built a profitable business, even in a challenging market."

Growth without compromise

"Many fintechs chase growth at any cost. We grow fast, too, but we stay laser-focused on profitability. It's not flashy, but it is important," says Rico Andersen, CEO of Ageras. "Our revenue more than doubled year over year."

Ageras' revenue surged by 114% in 2024. The company ended the year with €8.7 million in EBITDA and 90% gross margin, a strong indicator of its operational efficiency and disciplined growth strategy.

At the same time, the team more than doubled in size, growing from 200 to 449 employees, and now serves over 320,000 small businesses across Europe. With a solid footprint in its core markets - Denmark, the Netherlands, Germany, and France - Ageras is reinforcing its position as Europe's go-to financial platform for small businesses, driven by growing demand for simple, integrated solutions delivered with precision and scale.

From bold acquisitions to profitable integration 

In 2024, Ageras made strategic moves that expanded its reach, strengthened its product suite and brought in top-tier investors to support its long-term vision.

Its biggest acquisition to date is Shine, a leading French fintech known for its strong banking product, bringing a crucial payment institution license granted by the ACPR (the French financial services regulator) - an asset that now enables Ageras to launch more advanced banking features across Europe.

"Shine's negative EBITDA at the time of acquisition reflected prior bold, strategic investments and we saw the value: a product that small business owners love and a brand that really resonates. Our financial strength gave us the confidence to act. Even after acquiring Shine that was not yet profitable, we still managed to deliver the strongest EBITDA in the history of Ageras. Shine's leading technology is now a key driver of our European fintech expansion," comments Rico Andersen. 

Ageras also acquired Storebuddy, a software specialised in automating accounting for digital payments, strengthening its accounting automation and reinforcing its role as a key partner for small businesses that accept digital payments.

AI behind the scenes

In 2024, AI became a major growth driver for both Ageras and the small businesses it supports. With smarter tools like advanced expense categorisation and email-based receipt matching, Ageras helped clients simplify their finances. 

"AI is about making the experience smarter, not more complicated. It's more than a trendy feature to offer. We believe AI should work quietly in the background, giving insights and eliminating tedious manual tasks but letting entrepreneurs stay in control," says Rico Andersen, CEO of Ageras. 

Therefore, Ageras also proved that cutting-edge technology and exceptional human support can go hand in hand. While embedding AI at the heart of its platform, the company doubled down on service excellence, most notably by acquiring the fintech Shine, repeatedly recognised for its outstanding customer care, including the 'Best Customer Service' award in both 2024 and 2025.

About Ageras

Ageras was founded in 2012 by serial entrepreneurs Rico Andersen and Martin Hegelund. Ageras' vision is to create success for small businesses by simplifying their administration. By integrating its solutions into a single platform for invoicing, accounting, payroll, banking and financing, it enables business owners to focus on running their business. The company's investors include Investcorp, Rabo Frontier Ventures (Rabobank) and Lugard Road Capital (Luxor Capital), Folketrygdfondet and Lazard. For more information, please visit www.ageras.com

Press contacts

PR agency
nic@rossen.com - +45 20729972

Ageras
Marine Bryszkowski - Mathilde Beainy - marine@shine.fr / mathilde.beainy@shine.fr
+33 6 66 29 16 98 / +33 6 35 43 19 98 

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