Ageras, a leading European software platform for accounting, admin, and banking solutions for small businesses, has acquired Dutch payroll software company Employes. This marks Ageras’ second acquisition in 2025 and its most significant since the 2024 takeover of French business banking platform Shine from Société Générale, signaling a shift in how small businesses across Europe manage payroll.

With this acquisition, Ageras strengthens its presence in the Netherlands, adding advanced payroll capabilities to its suite of services for small businesses. The move follows earlier expansion efforts, including the acquisition of Danish payment reconciliation software Storebuddy in early 2025.

“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,” said Rico Andersen, CEO and co-founder of Ageras. “This deal not only strengthens our Dutch offering but also gives us a scalable platform to innovate payroll—ultimately transforming how small businesses pay wages and eliminating payroll headaches.”

About Employes

Founded in 2018 by Rob Kroezen and Marius van den Oever, Employes has redefined payroll for modern businesses in the Netherlands. Its intuitive platform enables entrepreneurs to handle payroll independently, even within the complex Dutch regulatory environment. Today, Employes serves over 6,000 companies and is used or recommended by more than 300 bookkeeping firms. The Amsterdam- and Zwolle-based team will join Ageras’ growing workforce of approximately 450 employees.

“We started Employes because we were frustrated with how difficult payroll management was for small business owners,” said Rob Kroezen, co-founder of Employes. “Joining Ageras gives us the scale, reach, and resources to bring our product to even more entrepreneurs.”

Strategic Growth and Future Acquisitions

Since its founding in 2012, Ageras has grown into a pan-European platform serving more than 400,000 small businesses with invoicing, accounting, banking, and payroll solutions. Backed by major investors including Investcorp, Coller Capital, and Lazard, Ageras reported a 114% revenue surge in 2024 to EUR 55.5 million, with an EBITDA of EUR 8.7 million. The company plans to continue acquiring strategic businesses to expand its market leadership.

“Small businesses across Europe are increasingly looking for all-in-one platforms to run their operations. Payroll is a crucial piece of that puzzle, but it’s only one step toward our vision of reducing admin time so business owners can focus on growth,” Andersen added.

Ageras Milestones

  • 2012: Founded by Rico Andersen and Martin Hegelund.
  • 2016: Named Børsen Gazelle and wins EY Entrepreneur of the Year award.
  • 2017: Investcorp acquires majority stake; wins Danish e-commerce Best B2B Company award.
  • 2019: Acquires accounting software Billy.
  • 2020: Rabobank invests; achieves EUR 10m ARR.
  • 2021: Secures DKK 450m from Lugard Road Capital; acquires Zervant and Salary.
  • 2022: Receives EUR 35m from Canadian CIBC; acquires German banking app Kontist.
  • 2023: Becomes profitable for the first time.
  • 2024: Raises EUR 82m; acquires Shine from Société Générale.
  • 2025: Acquires Storebuddy and Employes.

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