Tofte & Company advises Ageras in strategic investment from Rabobank and acquisition of Tellow

Tofte & Company is pleased to have acted as an exclusive advisor to Ageras and Investorp in their acquisition of Dutch SaaS-company accounting Tellow and capital raise from Rabobank’s investment fund.

Rabo Frontier Ventures, the strategic investment fund of Rabobank, is investing in fast-growing online accounting and bookkeeping marketplace Ageras. The collaboration with the major European bank Rabobank is an important milestone for Ageras on their international growth-journey as Ageras Group is preparing to offer financial services such as integrated banking, credit cards, business accounts, financing, and more.

Furthermore, Ageras acquires the accounting SaaS-company, Tellow as part of its international expansion plans. Tellow is a fast-growing accounting tool and offers advanced software that enables freelancers to focus on their job instead of bookkeeping. The company grew quickly as an independent company and now reached its next stage in its journey as part of the Ageras Group.

The Ageras group is the leading platform for professional accounting services in Scandinavia, Western Europe, and North America. The company provides online bookkeeping software and 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 advisors to Ageras. Last year, Agears expanded its ecosystem by acquiring Danish accounting software firm Billy, also advised by Tofte & Company.

“For the past several years, we have worked with Tofte & Company in deal processes and today – once again – we have gotten a successful outcome through the structured target search approach, knowledge of SaaS companies and the relentless assistance in the negotiation process by Tofte&Co, said Founder and CEO of Ageras Group, Rico Andersen.

Gilbert Kamieniecky, Managing Director at Investcorp, further expands: “Tofte & Company‘s unique competencies within understanding the complexities of the deal-making has been invaluable to guide these two concurrent transactions to fruition.”