Ageras, has received final approval from French banking regulator Autorité de Contrôle Prudentiel et de Résolution (ACPR) for the acquisition of business banking platform Shine.
Announced in June this year, the acquisition is part of a divestment by Société Générale, marking a significant advancement in Ageras’ expansion into France.
The approval allows Ageras to offer banking and payment services under its own licence, positioning the company to integrate Shine’s expertise into its pan-European growth plans.
The Danish-founded fintech platform aims to extend Shine’s services to its home markets and other regions across Europe as part of its strategic expansion from 2025 onwards.
Launched in 2018, Shine offers a fully online business banking platform tailored to the needs of companies and freelancers. Societe Generale acquired a majority stake in the French small and medium enterprise (SME) fintech in 2020.
Shine CEO Jean-Baptiste Sciandra said: “Entrepreneurs need more simplicity in a heavily regulated environment. They want to save time and are looking for interconnected products.
“Joining Ageras is a no-brainer. Together we will be able to offer a state-of-the-art, comprehensive solution that simplifies the daily life of entrepreneurs, not only in France, but throughout Europe. We are excited to begin this international chapter.”
Founded in 2012, Ageras is a European fintech platform for accounting software, business banking, and administrative tools. It specialises in accounting automation, financial forecasting, and administrative solutions.
Ageras has secured over €200m in funding and is backed by major global investors, including Investcorp, Luxor Capital, Rabobank, and Lazard.
By consolidating invoicing, accounting, payroll, banking, and financing into a unified platform, it allows business owners to concentrate on managing and growing their business.
Ageras CEO and co-founder Rico Andersen said: “We built Ageras to enable success for small businesses everywhere, and this includes constantly developing and expanding our platform’s service offering across all markets. From different countries, we have shared that same mission and it’s time to join forces:
“Combining Shine’s banking expertise and presence in France with the strength of Ageras’ platform makes us bigger, broader and more competitive than ever. We also hope to bring Shine to familiar shores and new markets in the coming years as well.”
The combined company expects to serve more than 300,000 customers.
Besides, the acquisition of Shine is expected to bring new banking expertise to Ageras.
As part of the acquisition, Ageras will assume all operations and employees of Shine, expanding its capacity to serve entrepreneurs in France and beyond.
