Founded in 2010, Billy offer user-friendly accounting software for SMEs. The company provides a self-developed software platform for accounting and digital invoicing covering transactions, salary and webshop specific business applications. At the time of the transaction, Billy featured almost 17,000 active users and achieved double-digit MRR growth.
Ageras is the leading platform for professional accounting services. The company provides matchmaking services for bookkeepers, auditors, accountants and other experts within the financial industry – connecting the market at both ends. Ageras has been an Investcorp portfolio company since March 2017, where Tofte & Company were proud to act as advisor to Ageras.
”I am a creator. Therefore it was time to sell Billy to an owner who is better at managing larger companies, and whom can make Billy international. On top of Ageras having a culture that matches Billy, they also gave me the best sales terms. So I am not tied to the operations going forward, and that has been a very important factor to me…It was a very good price. I am not going to go to bed hungry at any time,” says Toke Kruse, co-founder and Chairman of Billy.
Rico Andersen, CEO at Ageras, said “It is full speed ahead; we just entered the USA and can proudly call ourself Europe’s larget marketplace within accounting services. Since Investcorp came on board, the job has been to create an ecosystem within the accounting sector, and Billy is plug-and-play on that journey. Therefore it also makes me proud that we were able to run with the baton.”
Thomas Tofte, Managing Partner at Tofte & Company commented: “It was a pleasure to work with the Ageras team again – first advising on their deal with Investcorp and now helping them expand their portfolio. Billy is on an exciting journey and I can’t wait to follow their progress.”