With the acquisition of Danish payment reconciliation software Storebuddy, accounting platform Ageras rolls-up its seventh company -preceded by its 2024 acquisition of business banking provider Shine from Société Générale- to complement its service offering and enhance its position as a leading accounting platform for SMEs in Europe.
Ageras, a leading fintech platform for accounting, admin and banking software for small businesses in Europe, has completed the full acquisition of Storebuddy; an integration software specialised in automating accounting processes for online stores. With the undisclosed transaction, which follows Ageras’ 2024 acquisition of French business banking provider Shine from Société Générale, the Danish-founded accounting platform thus adds a “7th gear” to its business software suite, to further enhance its position as a preferred accounting platform for small businesses in Europe, as well as expand its reach within the e-commerce sector:
“I have known the founders of Storebuddy for 7-8 years and they have built an amazing niche product that can make Ageras’ service-offering best-in-class for businesses that accept digital payments. It truly is a magnificent ‘7th gear’ that we now integrate with the Ageras platform where we expect Storebuddy to grow significantly both at home and abroad due to our roll-up and European roll-out”, says Martin Hegelund.
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Supports approach on European e-commerce
The acquisition of Storebuddy is the Danish fintech platform’s latest step in a broader strategy to expand its reach into digital payments, such as the e-commerce segment. And as the European e-commerce industry continues to expand, so does the complexity of the related accounting and reporting requirements for online store owners, creating an increasing demand for specialised tools that simplify administration – which is exactly what Storebuddy represents, according to its founders:
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“Since day one, our goal with Storebuddy has been to make the accounting for online store owners easier. Joining forces with Ageras allows us to take that ambition to the next level, scaling our solution beyond Denmark and reaching even more entrepreneurs. For our customers, this will be business as usual, as Storebuddy will continue to operate with the same commitment: To make accounting easy and simple. The only difference is that being part of Ageras will allow us to develop the product even further and expand into new markets”, says Lasse Juhl Kirk, co-founder of Storebuddy.
A hand-in-glove fit with Ageras
Storebuddy was founded in 2014 in Denmark and is a SaaS product preferred by the likes of Nordgreen and Watery to automate accounting and reconciliation of orders, online payments, payouts and fees as well as preparing one-stop-shop VAT reporting, which is often considered a hassle for e-commerce business owners and bookkeepers alike. In essence, Storebuddy is making the lives of countless Danish online store owners and “e-tailers” easier, and with the acquisition by Ageras, that “hassle-free” experience will soon be underway to Ageras’ other European markets where the fintech accounting platform foresees huge customer demand:
“At Ageras, we want to lighten the mental load of entrepreneurs and small business owners so they can focus on what truly matters i.e. growing their business. Storebuddy fits hand-in-glove with that ambition and mission as their innovative software has already proven how to make life easier for Danish online store owners by automating time-heavy accounting tasks. Bringing Storebuddy into the Ageras family will not only help grow the product under our wings, but also expand Ageras’ ability to service the e-commerce sector significantly”, says Martin Hegelund, co-founder of Ageras.
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Source: PR Newswire
