Ageras, a European software platform specialising in accounting, administration, and banking for small businesses, has announced its acquisition of Employes, a Dutch payroll software company.
The financial terms of the deal were not revealed.
This marks Ageras’ second acquisition in 2025 and its eighth overall. The latest acquisition is expected to strengthen Ageras’ foothold in the Netherlands by adding payroll solutions to its offerings for local small businesses.
Established in 2018 by Rob Kroezen and Marius van den Oever, Employes has developed a platform that simplifies payroll management for businesses navigating the complex Dutch regulatory landscape.
Employes currently is said to serve over 6,000 companies.
Kroezen said: “We started Employes because we were frustrated with how difficult payroll management was for small business owners. Joining Ageras gives us the scale, reach, and resources to bring our product to even more entrepreneurs and we’re therefore very excited for what’s ahead.”
Ageras was established in 2012 by Rico Andersen and Martin Hegelund and has grown into a pan-European entity providing invoicing, accounting, banking, and payroll services to over 400,000 small businesses across Europe.
Supported by investors such as Investcorp, Lazard, and Coller Capital, Ageras reported an EBITDA of €8.7m for 2024, driven by a revenue increase of 114% to €55.5m.
In 2017, Investcorp acquired a majority stake in Ageras. The latter made a series of investments and acquisitions from various financial entities between 2019 and 2025.
These have included the acquisition of Danish reconciliation software Storebuddy earlier this year and prior purchases of companies like Shine from France and Kontist from Germany.
Ageras CEO and co-founder Rico Andersen said: “Employes is a perfect match for Ageras as they too believe in putting business owners first, and building a product that radically simplifies their administration.
“The acquisition doesn’t just make our Dutch offering much stronger but also gives us a proven, scalable platform to do even more with payroll – ultimately changing the way small businesses pay their wages and take the pain out of payroll. No doubt, this is our most significant acquisition since Shine joined us last year.”
