November 26, 2025 – Rabo Investments Corporate Venturing (RICV) is pleased to announce that its portfolio company Shine (formerly known as Ageras) has been acquired by Cegid, a European leader in cloud-based management solutions. This acquisition marks a significant milestone for Rabo Investments, which has supported Shine since its first investment in 2020. Now, Shine is a leading European fintech unicorn, that provides digital business accounts, payments, e-invoicing, accounting, and payroll solutions to over 400,000 small businesses across Europe. Through this agreement, Shine and Cegid will join forces to accelerate their shared ambition of becoming Europe’s leading financial copilot for SMBs and accountants.
Rico Andersen and Martin Hegelund, Co-Founders of Shine, commented: “From founding Shine as a start-up to building it into a leading European unicorn, our mission has been driven by the ambition to radically remove complexity for businesses. Joining forces with Cegid allows us to uniquely bring that vision into a much broader community of millions of small businesses, and their accountants, across Europe. By combining the strongest SMB business accounts and payments platform with the most advanced accounting technology, we are creating Europe’s first truly unified financial hub, built to eliminate complexity for millions of businesses. Two category leaders. One unified platform. Europe’s new business finance powerhouse is here.”
Christian Lucas, Chairman of Cegid and Managing Partner at Silver Lake, added: “This combination is a strong affirmation and natural continuation of Cegid’s European growth journey. For more than four decades, Cegid has stood alongside accountants as trusted partners to small businesses, and with Shine we are strengthening that bond for the next digital era.”
