Copenhagen-based Ageras, a software platform for accounting, administration, and banking for small businesses, has acquired Amsterdam’s Employes, a payroll software company.
This is Ageras’s second acquisition in 2025 and its eighth overall. The company has expanded its operations in several European markets, including through the 2024 acquisition of Shine from Société Générale. With the acquisition of Employes, Ageras adds payroll software to its services in the Netherlands.
Rico Andersen, CEO and co-founder of Ageras, completed the acquisition of Danish payment reconciliation software company Storebuddy in 2025.
With the latest acquisition, Andersen says, “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.”
Payroll administration, simplified
Founded in 2018 by Rob Kroezen and Marius van den Oever, Employes provides a platform that allows businesses in the Netherlands to manage payroll independently within the country’s regulatory framework.
Currently, the company serves over 6,000 businesses and is used or recommended by more than 300 bookkeeping firms.
Co-founder Rob Kroezen, who will stay on the combined journey with Ageras, says, “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 has acquired Employes as part of its expansion. Employes’ teams in Amsterdam and Zwolle will now join Ageras’ workforce of approximately 450 people, a number that increased during 2024.
Ageras aims for more acquisitions
Founded in 2012 by Rico Andersen and Martin Hegelund, Ageras operates a software platform that serves over 400,000 small businesses across Europe. With more than 30 years of combined experience in building internet companies, the founders created Ageras to simplify administration for small businesses.
The platform integrates invoicing, accounting, payroll, banking, and financing into one system, enabling business owners to manage their operations more efficiently. Ageras is backed by investors including Investcorp, Coller Capital, Lazard, Rabo Frontier Ventures (Rabobank), and Folketrygdfondet.
In its 2024 annual results, Ageras reported an EBITDA of €8.7M and revenue of €55.5M, reflecting a 114 per cent increase. According to the CEO, Rico Andersen, Ageras plans to continue expanding through further acquisitions to grow its presence in the European market.
Andersen says, “Small businesses across Europe are increasingly looking for all-in-one platforms to run their businesses. Payroll is a crucial piece of that puzzle, however, it does not conclude our vision to empower businesses everywhere to spend less time on admin and more time on what matters. Therefore, we will still be scouting the market for the right opportunities to arise in Europe.”
