Category Archives: News

Mentha Capital expands in occupational health and safety services through its acquisition of ENRGY

Mentha

Investor Mentha Capital has acquired the shares of ENRGY in Business Group. At the start of 2020, Mentha established its position in the market with a majority stake in paraDIGMA Groep. Both companies, operating in the field of absenteeism and sustainable employability, will continue to operate under their own brand name, services, organisation and locations. The transaction is subject to the approval of the Dutch Healthcare Authority (NZa).

ENRGY is a fast-growing health and safety service, and with 200 professionals, helps its clients as a strategic and executive partner in structurally reducing absenteeism. In its services, ENRGY places a strong emphasis on the variables that determine sustainable work ability, summarised in The House of Work Ability. The founders and directors Marcel Houtman, Hidde Froentjes and Martijn ten Bokum will remain actively operationally involved and become co-shareholders in the Group Holding over ENRGY and paraDIGMA.

Marcel Houtman, ENRGY: “We are very pleased to have taken this step. Mentha can properly support us in continuing our growth and innovation ambitions, while our strong culture and vision is maintained. This enables us to build on our ultimate dream to allow the entire working Netherlands to take control of work capacity, with reduced absenteeism and increased job satisfaction as the goal. We believe that with the attractive propositions, knowledge and expertise of both companies, we are creating a powerhouse of innovation, in order to be able to respond to the rapidly changing market and to enhance the service we provide to our customers and clients.”

paraDIGMA Groep is a distinctive group of companies operating in the field of sustainable employability, active through a nationwide network and more than 600 employees. The Working Conditions Service division (De Arbodienst) is an occupational health and safety service provider with an unconventional view on absenteeism, which leads to progressive and highly effective absenteeism and health policies within organisations. The other components offer, among other things, psychological interventions, outplacement and reintegration, work-related research and advice, and company training. The company was founded in 2003 by Rudo Vissers, who is still active as managing director of paraDIGMA Groep and co-shareholder of the group holding.

Rudo Vissers, paraDIGMA Groep: “We are impressed by the solid position which ENRGY has attained in the market in recent years. From their own unique approach, ENERGY and paraDIGMA share a common vision on the subject of work and health. Both companies realise the great importance of culture and leadership in organisations in increasing employability and structurally reducing absenteeism, and proritise a high-quality medical basis and personal attention for clients.”

Mentha Capital invests in established, profitable companies which demonstrate clear potential for further expansion through organic growth, expansion into new markets and/or acquisitions. Mentha has 15 participating interests, active in various end markets.

Barend Rutten, Mentha Capital: “We are pleased to enter into a partnership with ENRGY. Sustainable employabiity is an increasingly important theme for companies and society at large. The market is in full swing and provides many opportunities. Mentha is happy to assist both companies in fulfilling their organic and acquisitive growth ambitions.”

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MedPharm Announces Expansion of Formulation Development and Analytical Service Labs in the UK

Ampersand

MedPharm Ltd, the world leader in formulation development and analytical services for topical and transdermal products, is thrilled to announce a £1.5M investment into the refurbishment and expansion of our 15,000 sq ft campus in Surrey, UK that will increase our UK laboratory space by 35%.

With a planned increased presence of automated technologies stemming from this £1.5M investment, this new technology will help build upon and further support MedPharm’s position in the pharmaceutical formulation development and testing sectors for topical and transdermal drug delivery products.

Scheduled to be completed during the fourth quarter of 2021, the increased capacity will allow MedPharm to continue meeting the growing demand for its topical and transdermal services.

Dr Rob Turner, General Manager UK, MedPharm comments that the expansion and refurbishment of the laboratory space will allow a more streamlined workflow – providing an optimal service our clients can benefit from for many years to come.

Dr. Rob Turner“We are excited to be renovating our formulation development and analytical laboratories, clinical manufacturing suites and personnel workspace to ensure our operations and capabilities remain state of the art.”, commented Dr Rob Turner, General Manager UK.

“During the renovations, we will take extensive steps to de-risk the process and do not expect any disruption to our existing services, quality of scientific deliverables and client commitments throughout the refurbishment.”

“MedPharm has been supporting clients from Guildford for 15 years and this renovation will secure our footprint here in Surrey for years to come.”

About MedPharm

MedPharm is the world’s leading contract provider of topical and transdermal product design and formulation development services. MedPharm is experts at reducing risk and accelerating development times for generic and proprietary pharmaceutical customers through their unique, cost-effective and industry-leading performance testing models. Well established as the global leaders in dermatology, nail, mucosal membrane, and transdermal product development, MedPharm can also offer innovative solutions for ophthalmic and airway preparations recognized for their scientific rigor by regulators and investors. MedPharm has fully established Centers of Excellence in the USA and the UK.

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Ferd and other owners considering diversifying ownership of Aibel, preferably through an IPO

Ferd

In recent years, Aibel has undergone a transition from the oil and gas industry into renewable energy. Half of the order book now comprises projects related to offshore wind power and electrification.

To further accelerate the growth the Board and owners believe it would be advantageous to strengthen the company’s balance sheet. Aibel’s owners, including Ferd AS, are considering the possibility of diversifying the company’s ownership, preferably through a listing on the Oslo Børs. However, a final decision has not been taken.

Ferd currently owns 50% of Aibel. The other owners are Ratos (32%) and Sixth AP Fund (18%).

For further information, visit Aibel.

This release is not and does not form part of an offer of securities for sale in the United States or in any other jurisdiction. Securities may not be offered or sold in the United States absent registration or an exemption from registration.

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Ratos and other owners considering diversifying ownership of Aibel

Ratos

Aibel’s owners, including Ratos AB (publ) (“Ratos”), are considering the possibility of diversifying the company’s ownership, preferably through a listing on the Oslo Børs, in order to further accelerate its transition into the renewable energy industry. However, a final decision has not been taken.

Ratos currently owns 32% of Aibel. The other owners are Ferd (50%) and Sixth AP Fund (18%).

“Aibel has undergone an outstanding transition over the past five years with Mads Anderson as CEO. Its operations are stable, and half of the order book now comprises projects related to offshore wind power and electrification. The company is in a transitional period, and the Board and owners believe it would be advantageous to further improve the company’s financial conditions for continued growth,” says Christian Johansson Gebauer, Business Area Manager at Ratos and Board member of Aibel.

For further information about Aibel, visit https://aibel.com

For further information:
Christian Johansson Gebauer, Head of Business Area Construction & Services
+46 8 700 17 00

Johan Hähnel, Acting Head of Communications and IR
+46 8 700 17 00

This release is not and does not form part of an offer of securities for sale in the United States or in any other jurisdiction. Securities may not be offered or sold in the United States absent registration or an exemption from registration.

About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2020, the companies have approximately SEK 34 billion in sales. Our business concept is to develop companies headquartered in the Nordics that are or can become market leaders. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

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Climate intelligence startup Cervest snaps up $30m in Series A funding

Cervest has raised $30m in a Series A funding round to expand its AI-powered climate intelligence platform into the US and European markets.

The startup’s platform provides a model for assessing climate risk, such as flooding and forest fires, to a physical asset.

Cervest claims its EarthScan product can give enterprises and governments climate insights on areas the size of a building going forward 80 years to help manage assets or inform construction decisions.

The Series A brings Cervest’s total funding to $36.2m. Draper Esprit led the financing round and was joined by existing investors Astanor Ventures, Lowercarbon Capital and Future Positive Capital.

New investors in the oversubscribed round include the venture fund of Salesforce CEO Marc Benioff, TIME Ventures, along with UNTITLED, the venture fund of Magnus Rausing, heir to the Tetra Pak fortune.

Cervest’s platform is available via a freemium model in which anyone can access basic climate intelligent features. Paying customers such as consultancy firms, insurers and policymakers have access to more granular data and more frequent updates. Its data is gathered from public and private sources.

“Climate Intelligence is business Intelligence for managing climate risk,” said Iggy Bassi, founder and CEO of Cervest. “Climate volatility has thrown us into a new era where Climate Intelligence needs to be integrated into all decisions. Organizations that fail to do so risk being blindsided by climate events such as the recent floods and fires in Australia, the droughts in Europe, and the winter freeze in Texas.”

Bassi founded Cervest in 2016 after unpredictable strong winds flattened a $6m mill and flash floods destroyed an entire season’s crops on his sustainable farm in Ghana, West Africa. The lack of reliable climate data turned him to AI. The startup brought in data scientists from Imperial College London to solve the complex mathematical problem of marrying fragmented data.

“What we realised [is that] somebody needs to fuse together all these world scientists on a single platform, which meant a huge amount of data engineering,” Bassi told Verdict Magazine in an interview last year. “And underpinning that is a huge amount of domain knowledge, particularly around physical sciences.”

A handful of other startups, such as Tractable, have turned to AI to provide climate risk solutions. But Bassi believes his platform’s ability to look at climate risk as “collective whole” sets his company apart.

“Climate Tech has grabbed a lot of attention recently, with good reason. But solutions come from understanding the problem – Climate Intelligence is a new $40 billion market category which seeks to provide us with answers,” said Vinoth Jayakumar, partner and fintech practice lead at Draper Esprit.

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ProducePay scores $43m Series C funding from VCs, development banks

Astanor

Jack Ellis & Lauren Manning

Editor’s note: This article was updated on May 21, 2021, to provide comment from ProducePay founder Pablo Borquez Schwarzbeck.

Online ag marketplace ProducePay has raised $43 million in a Series C round co-led by Silicon Valley-based firm G2VP, the World Bank‘s International Finance Corporation (IFC), and the Inter-American Development Bank‘s IDB Invest.

Existing investors Anterra Capital and CoVenture also participated in the round alongside new backers Astanor Ventures, IGNIA, and Finistere Ventures.

ProducePay is focused on serving crop growers, offering them a suite of services including financing, as well as market data and analytics around things like pricing. Real-time price data is aggregated from individual farmers and produce buyers on the platform, plus a range of public, private, and proprietary sources.

The Los Angeles-based startup claims to have financed $3 billion of farm produce to date across 12 countries in North and South America.

“ProducePay funds close to 2% of the market, that’s about $1 billion of produce per year. Right now consumption in America is about $60 billion,” founder and CEO Pablo Borquez Schwarzbeck told AFN.

“We’re at a point now where we are becoming a very key player in the produce industry.”

The startup also operates an online marketplace that connects growers with suppliers and distributors. Named the ProducePay Preferred Network, it helps more than 700 vetted growers and distributors to do business with each other in a simpler, de-risked online environment.

It says it provides financing to growers “at every stage of the harvest cycle, with flexible payment terms, access to funding in two weeks or less, and no obligation to pay until produce ships.”

According to the startup, the Network “fosters profitable long-term partnerships between preferred partners: growers receive better pricing, and distributors have access to consistent produce supply.”

Encouraging tech adoption in a traditional industry

“The global fresh produce market is opaque, fragmented, and dominated by manual processes, and these obstacles make it difficult for growers and distributors to thrive,” Schwarzbeck said in a statement.

“We remove these pain points to provide transparency, predictability, and fairness for both growers and distributors throughout the entire produce value chain, from seed to sale.”

ProducePay — which claims that its revenue doubled in 2020 amid the Covid-19 pandemic — said it will use the Series C capital to expand its presence in Latin American markets, while also building out its tech and sales capabilities.

“Our growth right now is very aggressive. We grew 76% last year despite Covid-19,” Schwarzbeck said.

Aggressive growth often comes with serious challenges, however. The first headwind that ProducePay faces on its mission for market domination is the produce industry’s tendency to be a late adopter of modern technology. Geographic segregation, the average age of produce farmers, and longstanding cultural norms are a few reasons why some growers have lagged behind on tech uptake, according to Schwarzbeck.

“Unlike other industries that have tried to force technology into the space and failed, we are stewarding the industry towards technological adoption by leveraging the fact that today more than ever the new generation is much more receptive to technology. And agtech is hotter than it’s ever been,” he said.

Attracting investor attention

The platform’s potential impact for farmworkers and rural communities in central and South America appears to have been a key factor in encouraging both IDB Invest and IFC to come on board for this round.

“We’re proud to join ProducePay in supporting growers and distributors that promote fair labor practices, environmental care, and meaningful community engagement,” IFC Mexico country manager Juan Gonzalo Flores said in a statement.

“Through a commitment to sustainable development at every step of the fresh produce value chain, ProducePay fosters economic development across the Americas and eliminates disruptive barriers to international trade.”

ProducePay’s last reported fundraise was in December 2019, when it secured $205 million in debt financing from CoVenture and TCM Capital. This followed a $14 million Anterra Capital-led Series B equity round in October 2018.

A number of produce supply chain technologies are hitting the market. Many of them claim to remove middlemen, make transactions more efficient, or prevent spoilage, or a combination of these. In the US, produce logistics marketplace Hwy Haul closed a $10 million Series A round earlier this month, while produce traceability startup Fusionware was acquired by AgTech.io back in March. [Disclosure: Hwy Haul has received investment from AgFunder, which is AFN‘s parent company.]

Time will tell whether there is enough room for multiple players – or if the growing list of platforms aiming for sellers’ and buyers’ business will end up competing with one another.

For Schwarzbeck, there is some duplication happening in the industry.

“Like all marketplaces, he who gets critical mass first has to dominate, right? In the end, only one can remain – especially for an industry like this that has not done it before.”

“Our approach is unique. We haven’t tried to take something that worked in another industry [and] make it work in this one,” he claimed.

“On the contrary, we said: ‘If we want to build the marketplace, we have to first build the infrastructure that supports the marketplace, and ProducePay has to be the provider of that infrastructure.’ We have a working synergistic capability that makes me believe that we’re the ones primed for success and to really dominate the space we’re in.”

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CapMan Growth and Mandatum to accelerate Sofigate’s growth

Capman

Sofigate to boost its turnover towards EUR 500 million

Sofigate, the business technology transformation company, will be boosted by two private equity investors when CapMan Growth and Mandatum Private Equity become minority shareholders in the company. With their decision, the new owners are showing trust in a fast-growing digital transformation expert that combines program leadership, continuous management of business change and modern technology platforms. Sofigate aims for an annual turnover of EUR 500 million by 2025.

“CapMan and Mandatum bring financial and capital market expertise to the company, which will enable us to accelerate our growth. Company acquisitions are part of the strategy, and private equity investors ensure that financing is available when needed,” says Sofigate CEO Sami Karkkila.

Sofigate has grown rapidly in recent years. In five years, the company increased its turnover fivefold to the current level of EUR 100 million. Maintaining a similar growth rate requires both rapid organic growth and acquisitions.

Business technology a hot topic

The business technology sector is predicted to grow rapidly in the Nordic countries as well. The Covid-19 pandemic has accelerated digitalisation and spurred companies to invest even more in their digital processes.

“As a strategic investor, we see great potential in the development of Sofigate’s operations on the path the company has chosen. Sofigate operates in strong growth markets, and these are further intensified by the transformation brought about by digitalisation. As private equity investors, we bring considerable added value by significantly accelerating the implementation of Sofigate’s internationalisation and acquisition strategies,” says CapMan Growth Managing Partner Juha Mikkola of the company’s future.

“As technology takes centre stage in business operations across industries, the winners will be companies that understand the relationships between technology and strategy, business operations and product development. In this digitalisation-driven market, Sofigate has a strong position in Finland and significant growth potential in other Nordic countries. As a strategic investor and in addition to our financial investment, we provide Sofigate with access to our growth strategy and acquisition expertise,” says Alexander Antas, head of Mandatum Private Equity.

Strong ownership by staff also

In addition to CapMan and Mandatum, Sofigate is owned by LähiTapiola, the company’s founders, and a significant number of its personnel. Institutional investors now own a little less than one-fifth of Sofigate in total. Even after the transaction, Sofigate is to a large extent owned by its employees.

“The investments will also strengthen the composition of the board, which will increase the company’s ability to develop its operations. We are ready to implement the chosen growth strategy both operationally and at the board level, and we will be able to move very quickly if necessary,” says Karkkila.

Sofigate was founded in 2003 as an IT management service provider, but has gradually grown into the leading business technology transformation expert in the Nordic countries. A key driver of that growth has been the digital revolution in business, which has forced customers to make their traditional operations technology-driven.

“We offer customers technological expertise and transformation management in one package,” Karkkila says. “We are a pioneer in combining the best technologies, people and management models.”

For more information, please contact:

Juha Mikkola, Managing Partner, CapMan Growth
juha.mikkola[a]capman.com
Tel. +358 50 590 0522

Sami Karkkila, CEO, Sofigate
sami.karkkila[a]sofigate.com
Tel. +358 400 805 446

Sofigate is a business technology transformation company with approximately 600 employees in Finland, Sweden and Denmark. Sofigate helps its customers develop the interplay between business and technology: to design, build and implement transformations and business-friendly technology solutions. The company utilizes the Business Technology Standard and the world’s leading technology platforms such as ServiceNow, Salesforce, SAP, Oracle and Google Cloud.

CapMan Growth is a leading Finnish growth investor. The team’s second MEUR 97 fund, CapMan Growth II established in 2020, makes significant minority investments in growth stage companies with ambitious growth and expansion goals. CapMan is part of CapMan Group, a leading Nordic private asset expert with an active approach to value creation. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With close to €4 billion in assets under management, we have a broad presence in the unlisted market through our local and specialised teams. 

Mandatum Private Equity (MPE) is a Finnish growth oriented investor with ca. 160m EUR of AUM. MPE focuses on significant minority investments in Finnish and Nordic privately held companies with proven business models and strong growth ambitions. Mandatum Private Equity is part of Mandatum Asset Management (MAM), a new asset management company that was formed by combining Sampo Group’s proprietary balance sheet, client assets, and investment operations from Sampo Plc and Mandatum Life. MAM leverages Sampo’s investment heritage as one of the most successful institutional investors in the Nordic region. MAM manages ca. 24bn EUR and employs ca. 100 investment professionals. MAM belongs to the Sampo Group.

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GREAT DEALS e-Commerce juggernaut receives US$30 million investment from Fast Group, CVC Capital, and Navegar

CVC Capital Partners

The Philippines’ #1 e-commerce enabler Great Deals e-commerce Corporation raised US$ 30M (P 1.4B) capital in its Series B funding round.

The said funding round was led by Fast Group, a leading logistics firm in the Philippines with the support from CVC Capital Partners, one of the world’s largest global private equity firm with US$ 118B in assets under management (AUM). Navegar, a private equity firm that infused US$ 12M Series A fund into Great Deals, also contributed to this funding round.  The transaction was advised by Rocket Equities.

Steve Sy, Founder & CEO of Great Deals, William Chiongbian II, Group President and CEO of Fast Group, and Javier Infante, Managing Partner of Navegar, along with their management teams and advisors, participated in the signing of definitive agreements.

“The Fast Group sees a lot of synergies with Great Deals in building capability. We are privileged to contribute to the growth of Philippine e-commerce, as it relies heavily on a strong supply chain backbone,” Chiongbian said.

“We are thrilled to be teaming up with Steve and Great Deals, the country’s largest e-Commerce enabler. We envision strategic collaborations between Great Deal’s high-growth e-Commerce solutions and Fast’s leading position in Philippine logistics. This partnership also marks Fast’s first M&A transaction since CVC’s investment less than 6 months ago” said Brice Cu, Managing Director and Head of the Philippines, for CVC Capital Partners.

Great Deals will deploy this growth capital in tech development and the construction of an automated state-of-the-art fulfillment center — both critical to meet the growing demand in e-commerce and to level-up the game in customer experience.

“We love a good challenge.  We recognize that Philippine logistics is by far the toughest across the ASEAN region and remains to impede our e-Commerce penetration outside GMA.  With this funding and strategic support from our new investors, this opens new opportunities to drive forward Instant Commerce – delivery under one hour, wherever you are. We can reach and serve more Filipinos faster and safer. That is the Next Big Thing that can boost further the digital economy in our country,” Sy said.

Established in 2014, Sy founded Great Deals after spending many years as an entrepreneur in the retail and e-commerce sectors. He identified a stark need to enable entrepreneurs like himself to succeed in this new space.

With Sy’s bootstrapping style, Great Deals grew into a multi billion-peso company, posting four-fold growth in 2020. Its enviable list of global brand partners includes Abbott, L’Oréal, Unilever, Nestle, Samsonite, GSK, Bayer, and Fila, among others.

Great Deals, offers end-to-end business solutions ranging from digital marketing, content creation, storefront management, web design, business analytics and customer service to warehousing and peak-scaling fulfillment.

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ReaQta Closes Series-A Round to Expand Commercial Operations

Fortino Capital
  • Founded by an elite team of attack and defense cyber security experts, ReaQta’s Autonomous Detection​ & Response platform provides advanced endpoint security and operational resilience for the mid-market.
  • Moving away from the traditional cyber security model of blocking known and predictable threats, ReaQta leverages deep learning and dynamic behavioral analysis to map the status quo, identify abnormal behavior and protect against new attack techniques.
  • New funding from Alpha Intelligence Capital, Fortino Capital, InvestLink and Integra Partners will be used to expand commercial operations.

 

Amsterdam, The Netherlands – May 19, 2021 – ReaQta, a leading provider of advanced cyber security solutions for the autonomous detection and response of cyber threats, has closed an over-subscribed Series A funding round led by Alpha Intelligence Capital with participation from Fortino Capital, InvestLink and Integra Partners. ReaQta will invest the funding to expand its commercial operations and footprint, particularly across Europe and Asia.

ReaQta’s active defense intelligence platform aims to solve for the increasing number of businesses falling victim to malicious activities from cyber criminals and nation states actors. While traditional protection methods fight known threats and stand vulnerable to sophisticated attack techniques, ReaQta’s revolutionary platform stops known and unknown threats in real-time. Through deep learning, the platform constantly improves on defining normal behavior tailored to each business per endpoint, allowing it to block any abnormal behavior.

Additionally, traditional solutions require internal or external cybersecurity teams to act on any flagged threats. ReaQta’s platform not only detects threats, but also allows for a seamless and automated threat response in real-time. ReaQta was recently named a 2020 Cool Vendor by Gartner in Network and Endpoint Security for this unique approach in tackling cyber threats of all forms.

“We are extremely proud to partner with AIC, a deep-technology AI investor, and InvestLink, cyber-security veterans and founders of Securelink as well as Fortino Capital a B2B SaaS specialist with operating partner. With their support, we aim to accelerate growth and evolve from a promising scale-up to a leader in the cyber security space.” Alberto Pelliccione, Co-Founder and CEO of ReaQta, said. “The funding will mainly be used to expand our sales, marketing and support teams internationally. Reaching this milestone has been made possible thanks to our amazing team.”

“The increased interconnectivity of endpoints and data and the rise of malicious activities from threat actors over the last few years has created a substantial threat to business continuity,” Frank Staut, Managing Partner at InvestLink and  Co-Founder/CTO at Securelink, a leading enterprise cybersecurity provider in Europe which was acquired by Orange said. “We have analyzed this segment for several years and are convinced that ReaQta provides an industry-leading solution. The maturity and reference projects of the company’s Autonomous Detection & Response platform, in combination with a stellar team, sets them apart.”

Antoine Blondeau, Founder & Managing Partner of AIC, said “We believe in the disruptive potential of ReaQta’s threat-hunting solution. ReaQta is one of the first to combine deep learning with behavioral analytics to perform cyber threat-hunting, with an unparalleled degree of automation. As organizations move to remote work streams, increasing their number of endpoints, ReaQta is well positioned to capture the market’s explosive growth.”

 

About ReaQta

ReaQta is Europe’s top-tiered AI Autonomous Detection & Response platform, built by an elite group of cyber security experts and AI/ML researchers with extensive backgrounds in government intelligence operations. Built with advanced automated threat-hunting features, ReaQta allows organizations to eliminate the most advanced threats in real-time. As experts in AI and behavioral analysis, ReaQta’s proprietary dual-AI engines provide organizations across all industries with autonomous, real-time and fully customizable endpoint security, minus the complexity. As a result of unprecedented levels of automation coupled with intuitive design, ReaQta’s customers and partners benefit from performance improvements and are now able to manage and secure more endpoints without the need for highly skilled staff. For more information, visit https://reaqta.com

 

About AIC

Alpha Intelligence Capital (AIC) is a global venture capital fund investing exclusively in disruptive Artificial Intelligence/Machine Learning (AI/ML) technology-based companies. AIC has approximately $185 million under its main fund with access to large pools of co-investment capital. AIC’s teams operate out of San Francisco, Hong Kong and Paris. AIC has currently invested in over 19 companies globally, in the US, Israel, Europe and China. For more information, visit https://aicapital.ai

 

About Fortino

Fortino Capital is a pure play European B2B SaaS investor operating out of Amsterdam and Antwerp. Fortino has backed over 70 founders to date and holds c.€430m in AuM across 3 funds, of which 2 are early-stage VC and one PE / growth equity.

 

Media contacts

Elizabeth Lee
Communications Manager
e.lee@reaqta.com

Rel

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Accounting SaaS Regate.io announces 7M€ funding round

360 Capital

Paris based SaaS platform Regate.io raises 7M€ round to facilitate and automate accounting workflows for CFOs and accountants, including invoicing, expense management and payments. 360 Capital leads the round, alongside Financière Saint James and renowned BA including Alexis Bonillo, Pierre-François Thaler, Antoine Bello and Constantin Wolfrom.

Founded in 2019 by Alexis Renard and Laura Pallier, Regate.io aims at simplifying accounting processes by providing able to integrate and automate enterprise accounting tools.

With this round, Regate.io will accelerate its product development and deployment, as well as focus on building its team.

We are delighted to support the fantastic duo composed of Alexis and Laura in this new entrepreneurial adventure, bringing together the experience of a successful serial entrepreneur and a real understanding of the market needs.

Emanuele Levi, Partner at 360 Capital

 

Read the full press release here.

 

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