Thomas Vles, Tellow’s Chief Executive Officer (CEO), announced his decision to step down after 3.5 years of service.
“Following the integration of Tellow into Ageras, my role within the company changed, and as an entrepreneur at heart, I felt a strong desire to venture out on my own again,” says Vles.
Back in June 2020, Rabo Frontier Ventures invested in the Ageras Group. As part of the deal, Ageras Group acquired Tellow to expand its international presence.
“I have complete trust and confidence in Ageras and the dedicated team that is realising our vision. Closing the recent funding round is just a small milestone in the great things to come,” adds Vles.
Thomas Vles assumed the CEO position at Tellow in February 2021, succeeding Roel Smel. Prior to that, he had a strong track record of founding and effectively managing several companies, including Poopy Cat and Wedoido.
Tellow: Automated accounting programme
Tellow, based out of Amsterdam, offers an automated accounting programme specially designed for micro-businesses and freelancers.
According to Tellow, it helps users to control their records at all times, by making their accounts understandable. Users can use its app to send quotes and invoices and keep track of their finances.
They can also scan their receipts and invoices, after which they can submit each quarter in the VAT return to the tax authorities in one click, claims the company.`
Earlier this month, Tellow’s parent company Ageras raised €82M in an oversubscribed private placement round backed by two founders and Investcorp, along with other existing investors.
Ageras Group: Empowering micro-businesses
Founded by Rico Andersen and Martin Hegelund in 2012, Ageras Group empowers micro-businesses by offering an ecosystem around their financial needs.
The platform integrates its solutions into a single “cockpit” for invoicing, accounting, payroll, and banking.
Ageras Group started as the online marketplace Ageras.com (matching SMEs with accountants) but has since acquired accounting software Billy and Tellow, payroll software Salary, invoicing software company Zervant, and neo-bank Konist.
The Danish company was bootstrapped for its first five years until the global private equity firm Investcorp Technology Partners acquired a majority stake in 2017.
In 2020 the Dutch bank Rabobank invested in the group through its venture arm, Rabo Frontier Ventures. In 2021 Ageras Group raised $73M from New York-based investment fund Lugard Road Capital.
Ageras Group has offices in the US and across Europe and has around 350 employees. The group claims that more than 1 million small businesses have used its solutions in Europe and the US.
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