Ageras Expands Its Accounting Services with Storebuddy Acquisition

Ageras Gains '7th Gear' with Storebuddy Acquisition

In a significant move that underscores its commitment to serving small and medium-sized enterprises (SMEs) in Europe, Ageras, a prominent accounting and fintech platform, has recently acquired Danish payment reconciliation software Storebuddy. This acquisition marks Ageras' seventh integration into its growing portfolio, with prior additions enhancing its service offerings to clients.

Strategic Growth Through Acquisition

Founded in 2012, Ageras has consistently aimed to simplify the accounting landscape for businesses. The recent acquisition of Storebuddy, which specializes in automating accounting processes for online stores, aligns seamlessly with Ageras' objective to bolster its suite of business solutions. This strategy follows Ageras' 2024 purchase of Shine, a business banking provider from Société Générale, demonstrating a clear trend towards expanding its influence within the European fintech and e-commerce sectors.

According to Martin Hegelund, co-founder of Ageras, the integration of Storebuddy into their platform represents a significant enhancement. He stated, "Having known the founders of Storebuddy for years, it’s clear they have created a niche product that will elevate our service offering for businesses managing digital payments." With this acquisition, Ageras aims to integrate Storebuddy’s innovative solutions to provide a best-in-class experience for accounting tailored to modern businesses.

Meeting E-Commerce Needs

As the European e-commerce sector expands, the complexities involved in accounting and reporting for online businesses similarly grow. Storebuddy’s tools are designed to simplify these processes, making it an ideal match for Ageras’ current offerings. Lasse Juhl Kirk, co-founder of Storebuddy, emphasized the potential for growth, stating that joining forces with Ageras will allow them to scale their solutions beyond Denmark. "Our commitment remains the same: to make accounting simpler for online store owners. By integrating with Ageras, we can develop our product further and reach new markets effectively," he added.

With its origins in Denmark, Storebuddy has quickly made a name for itself, being recognized as a preferred choice for e-commerce businesses like Nordgreen and Watery. The software automates the accounting and reconciliation of orders, online payments and fees, and provides comprehensive VAT reporting—elements often considered burdensome for e-commerce entrepreneurs.

A Promising Future for Online Retailers

For Ageras, the acquisition is not just about adding another product; it is about enhancing the experience for e-commerce clients across Europe. Their vision is to ease the mental strain on entrepreneurs and small business owners, allowing them to concentrate on growing their businesses. The partnership with Storebuddy promises to expand Ageras' capacity to cater to the accounting needs of the booming e-commerce market.

Ageras has built a strong foundation since its inception, fueled by investments from notable firms like Investcorp and Rabobank. This new partnership is expected to drive continued growth, ensuring that more small to medium-sized businesses have access to efficient accounting solutions.

In conclusion, as Ageras integrates Storebuddy into its ecosystem, it not only strengthens its offerings but also positions itself as a crucial player in the evolving landscape of e-commerce accounting. As the demand for streamlined digital payment systems increases, the partnership promises to meet these needs head-on, setting a course for innovation in financial services for SMEs throughout Europe.