Ageras Acquires Shine: Expanding its Banking and Fintech Footprint

Ageras, a Danish fintech company focused on providing an all-in-one platform for small businesses, has announced its plans to acquire Shine, a French fintech startup that offers bank accounts for freelancers and very small companies.

• This acquisition marks a significant step for Ageras in its quest to consolidate the European fintech and accounting market.
• The deal is expected to close in the first half of 2025 pending regulatory approval.

Société Générale's Unfulfilled Banking Venture

Société Générale, a French banking giant, acquired Shine in 2020 for approximately €100 million, hoping to replicate the success of its online banking subsidiary, BoursoBank, but in the freelancer and business banking sector.

• However, Société Générale was unable to realize its vision for Shine, ultimately deciding to sell the platform to Ageras.
• This acquisition highlights the challenges faced by traditional banks in adapting to the rapidly evolving fintech landscape.

Ageras: Consolidating the Fintech and Accounting Marketplace

Ageras, founded in 2012, has consistently expanded its operations through acquisitions and strategic partnerships.

• It has acquired several companies in Denmark, the Netherlands, and Germany, including Billy, Salary, Tellow, Zervant, and Kontist, all of which offer similar products and services to Shine.
• This acquisition strategy allows Ageras to offer a comprehensive suite of fintech services, including banking, accounting, tax filing, and more, to small businesses across Europe.

Shine: A Banking Platform for Freelancers and Small Businesses

Shine provides a range of banking services tailored for freelancers and small businesses, including:

• An IBAN and bank card for managing finances
• Invoice creation and management
• Client payment collection
• Tax payment reminders
• Accounting export capabilities

Ageras' Expansion into the French Banking Market

The acquisition of Shine marks Ageras' entry into the French banking market, further solidifying its position as a leading fintech player in Europe.

• With Shine's existing customer base of over 100,000, Ageras expects to increase its overall customer count to 400,000 across its European operations.
• This move highlights Ageras' commitment to expanding its geographical footprint and offering a wider range of services to small businesses across Europe.

The Future of Banking and Fintech

The acquisition of Shine by Ageras demonstrates the ongoing consolidation within the fintech and accounting space. Ageras' strategy of acquiring complementary businesses enables it to offer a broader range of services and reach a larger audience, driving growth and expansion in the European market.

• This trend reflects the growing importance of integrated solutions for small businesses, who increasingly seek comprehensive fintech platforms that meet their diverse needs.
• As the fintech market continues to evolve, it is likely that we will see more acquisitions and mergers, as companies strive to establish a dominant market presence and offer comprehensive solutions to small businesses across Europe.