Ageras Group acquires Berlin-based neo-bank Kontist to expand fintech tools for freelancers and micro-business owners

Ageras Group, a fintech startup based in Copenhagen, has acquired Kontist, a neo-bank based in Berlin that specializes in serving the unique accounting and banking needs of self-employed and microbusinesses in Germany. Kontist is well known for its modern business banking and accounting software and sophisticated digital tax. With this acquisition, Ageras aims to expand its suite of fintech tools for freelancers and microbusiness owners, while also leveraging Kontist’s technology to accelerate its services to self-employed and microbusiness owners across Europe and North America.

Established in 2016 by fintech expert Christopher Plantener, Kontist was the first neo-bank in Germany that specifically targeted freelancers and self-employed individuals. With a team of 150 professionals, the company provides self-employed and microbusiness owners with various features such as bank accounts, payment cards, and accounting services, along with tax return calculation and filing services, which are all accessible through its mobile application.

Kontist, a Berlin-based neo-bank focused on serving the accounting and banking needs of Germany’s growing populations of micro-businesses and self-employed workers, has been acquired by Ageras Group. The neo-bank, which was established in 2016, offers bank accounts, payment cards, accounting features, and tax returns calculation and filing, all via its app. It also provides automated calculations of relevant sales and income taxes and sets aside estimated taxes due, among other services designed to help business owners navigate Germany’s complex tax laws.

Ageras Group, which powers more than one million small businesses across Europe and North America, has raised over $100m in a series of funding rounds since early 2021, and the acquisition of Kontist is part of its aggressive expansion strategy. The acquisition is expected to raise Ageras Group’s run-rate revenue by approximately 40%, bringing it closer to its annual target of €30m.

According to Ageras Group Co-founder and CEO Rico Andersen, the acquisition will benefit the company’s existing customer base, providing them with expanded access to Kontist’s expertise in digital tax and accounting software. He said that the acquisition fits into Ageras Group’s long-term plan of combining accounting and admin with financial services, which is what Kontist has perfected.

Kontist’s founders will continue to work for the company under Ageras Group. The acquisition of Kontist is Ageras Group’s third in the last 12 months, reflecting the company’s determination to expand its suite of fintech tools for freelancers and micro-business owners.

With this acquisition, Ageras aims to expand its reach and provide more access to its existing customer base. The acquisition is expected to increase Ageras’ revenue by approximately 40%, bringing it closer to its milestone of €30 million annually.

The acquisition will also bring the total headcount of Ageras to 350 employees across several countries, including Denmark, the Netherlands, Germany, the US, Finland, and Poland

According to Ageras Co-founder and CEO Rico Andersen, the acquisition is a critical step in Ageras’ growth.

This acquisition is an important move for both Ageras and Kontist. It will help Ageras to expand its reach and provide more services to small business owners across Europe and North America. For Kontist, the acquisition will provide access to a global market and allow them to leverage Ageras’ international accounting and financial ecosystem to continue growing and improving their services.