Participated · Seed · Jul 2022

Quartr positions itself as the leading first-party data layer for institutional finance and AI, specializing in structured, real-time coverage of public company events. Its products include Quartr Pro, an AI research platform used by hedge funds, asset managers, equity researchers, and IR professionals, and Quartr API, which serves as a data backbone for builders. The company serves more than 800 financial institutions and technology companies worldwide. Quartr reported triple-digit growth and strong unit economics, including Net Revenue Retention around 120%. With the new capital, Quartr plans to accelerate product development and expand its coverage further. The company highlighted Altos Ventures becoming its largest shareholder following the round.

Led · Equity · Mar 2022

Diet Doctor began as a health blog and has grown into a leading global health platform offering research-driven guidance on food and weight management. The company is shifting from a diet focus to a food-focused product, developed with world-leading experts and informed by new research. It plans to launch a new method and product that lets users customize healthy food choices much like personalized selections on streaming platforms. The new offering targets a potential market of hundreds of millions of people and will be accompanied by a forthcoming name change. Diet Doctor currently employs about 60 people and reported turnover of roughly €6.7 million. The platform emphasizes sustainable, long-term health improvements and aims to dispel common dieting myths.

Participated · Equity · Mar 2022

Acamp operates a platform where private and commercial hosts can list unused land and curated experiences for campers to book, targeting the active camping market in Sweden and the Nordics. Founded in 2020 by Paul Berggren and Öjje Holt, the company aims to make it easy to advertise, find and book great places to camp. Acamp recently acquired the Ställplatser app to gain its dataset of destinations and user behaviour and to expand its reach. Ställplatser has over 100,000 active users and functions as a popular community and register for campers and hosts. The acquisition is intended to introduce Acamp to the wider Nordic market and support its journey toward expansion across Europe. Acamp also secured recent funding of €2.5 million from Spintop Ventures, LRF Ventures and Centripetal Capital to support growth and expansion.

Participated · Equity · Feb 2022

Founded in 2012 by Rico Andersen and Martin Hegelund, Ageras began as an online marketplace matching small businesses with accountants and bookkeepers and has evolved into a fintech with a comprehensive cloud-based software product. The company employs approximately 250 people and serves over 300,000 active European small businesses. Its platform integrates invoicing, accounting, payroll, banking and finance into a single financial cockpit. Ageras has pursued growth through M&A, acquiring technology to expand its product faster than building from scratch. Management says M&A will remain integral to its strategy as it targets market leadership and an eventual IPO. Financially, Ageras reached positive EBITDA for the first time in 2023 and reported a record ARR of €41 million, up from €27 million in 2022. Ageras began in 2012 as a marketplace matching SMEs with accountants and has expanded into a suite of cloud-based financial tools that the company describes as a single “cockpit” for invoicing, accounting, payroll and banking. Its product line includes Zervant, Billy, Tellow (accounting), Kontist (banking) and Salary (payroll), and in late 2021 the group launched an embedded fintech service to provide financing through its software. The company says its solutions have been used by more than 1 million small businesses across Europe and the U.S. and that it is trusted by over 100,000 paying customers; it now operates as a roughly 350-person company. Ageras has moved into the broader $420 billion fintech market with its integrated SME offerings. Going forward the company is prioritizing strategic acquisitions to add mission‑critical features and expand market positions. Ageras evolved from an online accountant marketplace into a full-stack financial cockpit that integrates accounting, payroll, invoicing and embedded financing for small businesses. Its platform includes cloud-based products such as Zervant, Billy, Tellow and Salary, and its embedded fintech offers financing powered by proprietary accounting data. The company says its software powers more than 1 million SMEs and it employs about 250 people across Europe and the U.S. Ageras reports strong organic growth, high retention rates and has expanded via several strategic acquisitions, including Zervant. Management plans further geographic expansion in Scandinavia, Germany, France and the United States and intends to pursue additional M&A to broaden its fintech and software suite. The group positions itself to capture a multibillion-dollar SME market by deepening product usage as customers scale. Ageras is a Copenhagen-based company that provides accountancy software and solutions to SMEs and accounting firms. Founded in 2012, it bootstrapped for five years before Investcorp acquired a majority stake. The company operates in Sweden, Norway, the Netherlands, Germany and the US. According to Crunchbase, Ageras has made two acquisitions: Billy APS and Tellow. Ageras raised $73 million from Lugard Road Capital to fund further growth and expand its accountancy tools abroad. Management says the investment will help the firm capitalise on rising demand for automated business tools.

Participated · Equity · Feb 2022

Ageras Group, founded in 2012 and based in Copenhagen, builds a single cockpit that integrates invoicing, accounting, payroll and banking for micro-businesses. The company has grown via acquisitions, adding accounting software Billy and Tellow, payroll software Salary, invoicing software Zervant, and Berlin-based neo-bank Kontist. Earlier this year it raised €30 million from a group of European and American investors. On the back of the Kontist acquisition, Ageras secured €35 million in growth capital financing from CIBC Innovation Banking. The new capital is earmarked to drive its strategic acquisitions pipeline and expand its suite of software tailored to small businesses. Leadership says the funding will target companies with best-in-class products that either cement market position or add mission-critical features for all customers. Ageras Group provides a centralized financial cockpit and subscription-based accounting and fintech services for small businesses, integrating invoicing, accounting, payroll and financing. Its product suite includes cloud-based accounting software Zervant, Billy and Tellow and payroll software Salary, and it has integrated acquisitions such as Zervant and Salary. The group launched an embedded fintech service in late 2021 that offers financing to customers, with credit decisions based on proprietary accounting data. Ageras says it serves more than 1 million SMEs across Europe and the U.S. and employs about 250 people. The company cites strong retention rates, high organic growth and growth via acquisitions, and plans to continue aggressive M&A and expand further in Scandinavia, Germany, France and the United States. Ageras operates a dual-purpose platform combining an online marketplace that matches SMEs with accountants and an in-house bookkeeping/accounting software stack (Meneto) augmented by acquisitions. The company has acquired Danish product Billy and Dutch product Tellow to expand its software offering. Ageras reports having passed 340,000 users across Denmark, the U.S., Sweden, Norway, the Netherlands and Germany. Founded in 2012 and initially bootstrapped, it later attracted investors including Investcorp (which took a majority stake in 2017) and Rabo Bank. The business has emphasized recurring revenue and R&D as drivers of growth. Management plans to use new funding to expand into additional countries, new customer segments and add more services via organic growth and acquisitions.